Uncommon Cents Investing LLC Raises Position in Barrick Gold Corp (NYSE:GOLD)

Uncommon Cents Investing LLC lifted its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 1.7% in the 4th quarter, HoldingsChannel reports. The firm owned 119,265 shares of the gold and copper producer’s stock after buying an additional 2,040 shares during the quarter. Uncommon Cents Investing LLC’s holdings in Barrick Gold were worth $2,158,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Fairfield Bush & CO. purchased a new position in Barrick Gold in the 2nd quarter valued at approximately $29,000. Bruce G. Allen Investments LLC purchased a new position in Barrick Gold in the 4th quarter valued at approximately $35,000. Resurgent Financial Advisors LLC purchased a new position in Barrick Gold in the 4th quarter valued at approximately $36,000. FWL Investment Management LLC purchased a new position in Barrick Gold in the 4th quarter valued at approximately $36,000. Finally, Chilton Capital Management LLC purchased a new position in Barrick Gold in the 1st quarter valued at approximately $37,000. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Barrick Gold Stock Performance

NYSE GOLD opened at $16.64 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.40 and a current ratio of 3.16. The company has a market capitalization of $29.21 billion, a P/E ratio of 23.11, a P/E/G ratio of 1.26 and a beta of 0.57. The company has a fifty day moving average of $15.27 and a 200-day moving average of $16.04. Barrick Gold Corp has a 52-week low of $13.76 and a 52-week high of $20.75.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings data on Wednesday, February 14th. The gold and copper producer reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.06. Barrick Gold had a net margin of 11.16% and a return on equity of 4.64%. The firm had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the previous year, the company earned $0.13 earnings per share. As a group, equities research analysts predict that Barrick Gold Corp will post 0.9 EPS for the current fiscal year.

Barrick Gold Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a dividend of $0.074 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend was Wednesday, February 28th. Barrick Gold’s dividend payout ratio is currently 55.56%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. BMO Capital Markets reduced their price objective on shares of Barrick Gold from $26.00 to $24.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. National Bank Financial restated a “sector perform overweight” rating on shares of Barrick Gold in a research report on Wednesday, January 3rd. Raymond James reduced their price target on shares of Barrick Gold from $24.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, February 15th. Jefferies Financial Group started coverage on shares of Barrick Gold in a research report on Thursday, February 29th. They set a “buy” rating and a $21.00 price target for the company. Finally, Sanford C. Bernstein lowered shares of Barrick Gold from an “outperform” rating to a “market perform” rating in a research report on Monday, January 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.05.

About Barrick Gold

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.