Barrick Gold Corp (NYSE:GOLD) Stock Holdings Decreased by IFP Advisors Inc

IFP Advisors Inc lowered its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 73.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 10,416 shares of the gold and copper producer’s stock after selling 28,785 shares during the period. IFP Advisors Inc’s holdings in Barrick Gold were worth $161,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Moors & Cabot Inc. increased its position in shares of Barrick Gold by 0.9% in the 3rd quarter. Moors & Cabot Inc. now owns 64,085 shares of the gold and copper producer’s stock worth $1,275,000 after purchasing an additional 579 shares during the last quarter. Chelsea Counsel Co. increased its position in shares of Barrick Gold by 1.4% in the 3rd quarter. Chelsea Counsel Co. now owns 42,973 shares of the gold and copper producer’s stock worth $855,000 after purchasing an additional 590 shares during the last quarter. Avior Wealth Management LLC increased its position in shares of Barrick Gold by 24.1% in the 3rd quarter. Avior Wealth Management LLC now owns 3,399 shares of the gold and copper producer’s stock worth $68,000 after purchasing an additional 659 shares during the last quarter. VisionPoint Advisory Group LLC grew its position in shares of Barrick Gold by 6.7% during the 4th quarter. VisionPoint Advisory Group LLC now owns 14,051 shares of the gold and copper producer’s stock valued at $224,000 after buying an additional 880 shares during the last quarter. Finally, Bangor Savings Bank grew its position in shares of Barrick Gold by 4.5% during the 4th quarter. Bangor Savings Bank now owns 22,025 shares of the gold and copper producer’s stock valued at $341,000 after buying an additional 956 shares during the last quarter. Institutional investors own 62.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Berenberg Bank boosted their price objective on shares of Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. CIBC downgraded shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday, November 25th. Cibc World Mkts downgraded shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Raymond James lowered their price objective on shares of Barrick Gold from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Finally, TD Securities lowered their price objective on shares of Barrick Gold from $24.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.75.

Barrick Gold Trading Down 0.5 %

Shares of NYSE:GOLD opened at $17.67 on Tuesday. The company has a 50 day moving average of $16.65 and a 200-day moving average of $18.18. The firm has a market cap of $30.52 billion, a P/E ratio of 14.37, a P/E/G ratio of 0.44 and a beta of 0.55. Barrick Gold Corp has a twelve month low of $15.05 and a twelve month high of $21.35. The company has a current ratio of 2.89, a quick ratio of 2.15 and a debt-to-equity ratio of 0.14.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.46. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. As a group, analysts anticipate that Barrick Gold Corp will post 1.47 earnings per share for the current fiscal year.

Barrick Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Friday, February 28th. Barrick Gold’s dividend payout ratio is currently 32.52%.

Barrick Gold announced that its Board of Directors has authorized a share repurchase program on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the gold and copper producer to repurchase up to 3.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Barrick Gold Company Profile

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.
 
In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.