Private Advisor Group LLC Sells 19,556 Shares of Barrick Gold Corp (NYSE:GOLD)

Private Advisor Group LLC lessened its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 10.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 171,805 shares of the gold and copper producer’s stock after selling 19,556 shares during the period. Private Advisor Group LLC’s holdings in Barrick Gold were worth $2,913,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of GOLD. Snider Financial Group acquired a new position in shares of Barrick Gold during the first quarter worth $185,000. Bank of New York Mellon Corp raised its stake in Barrick Gold by 239.8% during the first quarter. Bank of New York Mellon Corp now owns 8,556,865 shares of the gold and copper producer’s stock worth $158,901,000 after buying an additional 6,038,440 shares during the last quarter. Bank of Nova Scotia raised its stake in Barrick Gold by 60.1% during the second quarter. Bank of Nova Scotia now owns 15,183,895 shares of the gold and copper producer’s stock worth $256,868,000 after buying an additional 5,697,106 shares during the last quarter. BlackRock Inc. raised its stake in Barrick Gold by 13.9% during the first quarter. BlackRock Inc. now owns 42,464,736 shares of the gold and copper producer’s stock worth $788,570,000 after buying an additional 5,188,456 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Barrick Gold by 40.8% during the first quarter. Wellington Management Group LLP now owns 17,824,320 shares of the gold and copper producer’s stock worth $437,387,000 after buying an additional 5,164,698 shares during the last quarter. Institutional investors and hedge funds own 58.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GOLD. Scotiabank lowered their target price on shares of Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Friday, November 3rd. Jefferies Financial Group lowered their target price on shares of Barrick Gold from $18.00 to $15.00 and set a “hold” rating for the company in a research note on Wednesday, October 4th. Veritas Investment Research downgraded shares of Barrick Gold from a “buy” rating to a “reduce” rating in a research note on Wednesday, October 4th. Raymond James decreased their price target on shares of Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Friday, October 13th. Finally, TD Securities decreased their price target on shares of Barrick Gold from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.31.

Barrick Gold Stock Up 0.6 %

GOLD stock opened at $15.81 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.28 and a current ratio of 3.07. The company has a market capitalization of $27.75 billion, a price-to-earnings ratio of 527.00, a PEG ratio of 1.51 and a beta of 0.46. Barrick Gold Corp has a fifty-two week low of $13.82 and a fifty-two week high of $20.75. The stock has a fifty day moving average of $15.70 and a 200-day moving average of $15.53.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its earnings results on Thursday, November 2nd. The gold and copper producer reported $0.24 EPS for the quarter, topping the consensus estimate of $0.19 by $0.05. Barrick Gold had a return on equity of 3.88% and a net margin of 0.52%. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter last year, the company earned $0.13 EPS. The firm’s revenue was up 13.3% compared to the same quarter last year. As a group, equities research analysts predict that Barrick Gold Corp will post 0.82 earnings per share for the current year.

Barrick Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.53%. Barrick Gold’s dividend payout ratio (DPR) is presently 1,333.33%.

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.