EverSource Wealth Advisors LLC Has $30,000 Holdings in Barrick Gold Corp (NYSE:GOLD)

EverSource Wealth Advisors LLC lessened its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 28.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,916 shares of the gold and copper producer’s stock after selling 773 shares during the period. EverSource Wealth Advisors LLC’s holdings in Barrick Gold were worth $30,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company increased its position in Barrick Gold by 33.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,431,497 shares of the gold and copper producer’s stock worth $227,524,000 after purchasing an additional 2,854,055 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Barrick Gold by 2.1% during the fourth quarter. Van ECK Associates Corp now owns 76,299,834 shares of the gold and copper producer’s stock worth $1,182,641,000 after buying an additional 1,563,361 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Barrick Gold by 2.7% during the third quarter. Wellington Management Group LLP now owns 54,712,508 shares of the gold and copper producer’s stock worth $1,088,484,000 after buying an additional 1,458,084 shares in the last quarter. Ruffer LLP lifted its stake in shares of Barrick Gold by 14.8% in the 4th quarter. Ruffer LLP now owns 10,269,848 shares of the gold and copper producer’s stock valued at $159,180,000 after acquiring an additional 1,325,119 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new stake in Barrick Gold during the 3rd quarter worth $20,379,000. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Trading Down 0.6 %

NYSE GOLD opened at $19.28 on Friday. Barrick Gold Corp has a one year low of $0.25 and a one year high of $21.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15. The business has a 50 day simple moving average of $17.44 and a 200 day simple moving average of $18.06. The stock has a market capitalization of $33.26 billion, a P/E ratio of 15.67, a P/E/G ratio of 0.44 and a beta of 0.58.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings data on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share for the quarter, meeting the consensus estimate of $0.46. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. Research analysts expect that Barrick Gold Corp will post 1.47 earnings per share for the current year.

Barrick Gold declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 12th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the gold and copper producer to buy up to 3.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Barrick Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.08%. Barrick Gold’s dividend payout ratio (DPR) is presently 32.52%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GOLD shares. CIBC lowered Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. Stifel Canada upgraded shares of Barrick Gold to a “strong-buy” rating in a research report on Wednesday. TD Securities decreased their price target 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. Scotiabank lifted their price target on shares of Barrick Gold from $19.00 to $20.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 18th. Finally, Berenberg Bank increased their price objective on Barrick Gold from $37.00 to $38.00 in a report on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.75.

Barrick Gold 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.