SteelPeak Wealth LLC Takes $169,000 Position in Barrick Gold Corp (NYSE:GOLD)

SteelPeak Wealth LLC bought a new position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 10,147 shares of the gold and copper producer’s stock, valued at approximately $169,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Securities Inc. acquired a new stake in shares of Barrick Gold in the fourth quarter valued at $26,000. EverSource Wealth Advisors LLC increased its position in Barrick Gold by 175.6% in the 4th 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 in the last quarter. Bruce G. Allen Investments LLC bought a new position in shares of Barrick Gold in the fourth quarter worth about $35,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Barrick Gold during the fourth quarter worth approximately $45,000. Finally, Optiver Holding B.V. bought a new stake in shares of Barrick Gold during the fourth quarter valued at approximately $46,000. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOLD has been the topic of several research reports. National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. BMO Capital Markets decreased their price target on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $18.00 target price on shares of Barrick Gold in a research report on Monday, March 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.60.

Barrick Gold Stock Performance

Shares of Barrick Gold stock opened at $16.56 on Tuesday. The stock’s fifty day simple moving average is $16.84 and its 200 day simple moving average is $16.48. The company has a current ratio of 3.32, a quick ratio of 2.49 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $29.07 billion, a PE ratio of 20.20, a PEG ratio of 0.47 and a beta of 0.51. Barrick Gold Corp has a 12 month low of $13.76 and a 12 month high of $18.95.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The company had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same quarter last year, the firm posted $0.14 earnings per share. Barrick Gold’s revenue was up 3.9% compared to the same quarter last year. On average, research analysts predict that Barrick Gold Corp will post 1.08 EPS for the current year.

Barrick Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were given a dividend of $0.10 per share. This is an increase from Barrick Gold’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.40 annualized dividend and a dividend yield of 2.42%. Barrick Gold’s dividend payout ratio is currently 48.78%.

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.