&Partners Sells 606 Shares of Barrick Gold Corp (NYSE:GOLD)

&Partners lowered its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 5.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,536 shares of the gold and copper producer’s stock after selling 606 shares during the quarter. &Partners’ holdings in Barrick Gold were worth $175,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GOLD. Principal Securities Inc. bought a new position in Barrick Gold during the fourth quarter worth about $26,000. EverSource Wealth Advisors LLC lifted its position in shares of Barrick Gold by 175.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock worth $32,000 after buying an additional 1,143 shares during the period. Bruce G. Allen Investments LLC bought a new position in shares of Barrick Gold during the 4th quarter worth approximately $35,000. Mark Sheptoff Financial Planning LLC acquired a new stake in Barrick Gold in the 4th quarter valued at $45,000. Finally, Optiver Holding B.V. acquired a new position in Barrick Gold during the fourth quarter worth $46,000. Institutional investors and hedge funds own 62.85% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on GOLD. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $18.00 target price on shares of Barrick Gold in a report on Monday, March 4th. National Bank Financial reiterated a “sector perform overweight” rating on shares of Barrick Gold in a research note on Monday, April 8th. Argus restated a “hold” rating on shares of Barrick Gold in a research report on Monday, February 26th. Jefferies Financial Group started coverage on Barrick Gold in a research report on Thursday, February 29th. They issued a “buy” rating and a $21.00 price objective for the company. Finally, BMO Capital Markets decreased their target price on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. One 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $21.60.

Barrick Gold Stock Performance

Shares of NYSE:GOLD opened at $16.72 on Tuesday. The company has a current ratio of 3.32, a quick ratio of 2.49 and a debt-to-equity ratio of 0.15. Barrick Gold Corp has a 1-year low of $13.76 and a 1-year high of $18.95. The stock has a market capitalization of $29.35 billion, a P/E ratio of 20.39, a P/E/G ratio of 0.48 and a beta of 0.59. The business has a 50-day moving average price of $16.85 and a two-hundred day moving average price of $16.48.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. The business had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same period in the previous year, the firm posted $0.14 earnings per share. Barrick Gold’s revenue for the quarter was up 3.9% compared to the same quarter last year. Equities analysts predict that Barrick Gold Corp will post 1.06 earnings per share for the current year.

Barrick Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were given a $0.10 dividend. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.07. This represents a $0.40 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend was Friday, May 31st. Barrick Gold’s dividend payout ratio (DPR) is currently 47.56%.

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.