Sunbelt Securities Inc. Has $167,000 Stock Holdings in Barrick Gold Corp (NYSE:GOLD)

Sunbelt Securities Inc. boosted its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 46.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,040 shares of the gold and copper producer’s stock after purchasing an additional 3,200 shares during the period. Sunbelt Securities Inc.’s holdings in Barrick Gold were worth $167,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several research firms have commented on GOLD. Royal Bank of Canada reissued an “outperform” rating and set a $18.00 target price on shares of Barrick Gold in a research report on Monday, March 4th. BMO Capital Markets cut their price objective on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. Finally, National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Barrick Gold in a research report on Monday, April 8th. One 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. According to data from MarketBeat, Barrick Gold has a consensus rating of “Moderate Buy” and a consensus price target of $21.60.

Barrick Gold Price Performance

Shares of Barrick Gold stock opened at $16.67 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.32 and a quick ratio of 2.49. The company has a market cap of $29.27 billion, a PE ratio of 20.33, a price-to-earnings-growth ratio of 0.48 and a beta of 0.59. The firm has a fifty day moving average price of $16.84 and a two-hundred day moving average price of $16.48. Barrick Gold Corp has a fifty-two week low of $13.76 and a fifty-two week high of $18.95.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its 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. The business had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.74 billion. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the business earned $0.14 earnings per share. Analysts expect that Barrick Gold Corp will post 1.06 EPS for the current year.

Barrick Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.40%. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Friday, May 31st. Barrick Gold’s dividend payout ratio is presently 48.78%.

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.