Kestra Private Wealth Services LLC Sells 23,948 Shares of Barrick Gold Corp (NYSE:GOLD)

Kestra Private Wealth Services LLC trimmed its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 46.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,014 shares of the gold and copper producer’s stock after selling 23,948 shares during the period. Kestra Private Wealth Services LLC’s holdings in Barrick Gold were worth $434,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in shares of Barrick Gold by 19.9% in the third quarter. Principal Financial Group Inc. now owns 483,613 shares of the gold and copper producer’s stock valued at $9,630,000 after buying an additional 80,366 shares during the period. Mizuho Markets Americas LLC lifted its stake in shares of Barrick Gold by 21.7% in the third quarter. Mizuho Markets Americas LLC now owns 2,317,580 shares of the gold and copper producer’s stock valued at $46,097,000 after buying an additional 413,012 shares during the period. Entropy Technologies LP bought a new stake in shares of Barrick Gold in the third quarter valued at about $3,711,000. Aigen Investment Management LP lifted its stake in shares of Barrick Gold by 330.5% in the third quarter. Aigen Investment Management LP now owns 99,240 shares of the gold and copper producer’s stock valued at $1,974,000 after buying an additional 76,186 shares during the period. Finally, Crocodile Capital Partners GmbH lifted its stake in shares of Barrick Gold by 97.3% in the fourth quarter. Crocodile Capital Partners GmbH now owns 1,460,000 shares of the gold and copper producer’s stock valued at $22,630,000 after buying an additional 720,000 shares during the period. 62.85% of the stock is currently owned by institutional investors.

Barrick Gold Stock Performance

NYSE GOLD opened at $17.96 on Monday. The firm has a market cap of $31.01 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 0.39 and a beta of 0.55. The company has a 50 day moving average of $16.25 and a 200-day moving average of $18.17. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14. Barrick Gold Corp has a 1-year low of $14.25 and a 1-year high of $21.35.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings data on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share for the quarter, hitting the consensus estimate of $0.46. Barrick Gold had a net margin of 13.19% and a return on equity of 5.82%. On average, equities analysts forecast that Barrick Gold Corp will post 1.23 earnings per share for the current fiscal year.

Barrick Gold announced that its board has approved a stock buyback plan on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the gold and copper producer to repurchase up to 3.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Barrick Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, February 28th. This represents a $0.40 annualized dividend and a dividend yield of 2.23%. Barrick Gold’s dividend payout ratio (DPR) is currently 43.01%.

Wall Street Analysts Forecast Growth

GOLD has been the subject of several research reports. Bank of America cut shares of Barrick Gold from a “buy” rating to a “neutral” rating and reduced their target price for the company from $21.00 to $18.00 in a research note on Monday, January 27th. TD Securities reduced their target price on shares of Barrick Gold from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday. CIBC cut shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. UBS Group lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $23.00 to $22.00 in a research report on Wednesday, October 30th. Finally, Berenberg Bank increased their price target on shares of Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Barrick Gold presently has an average rating of “Moderate Buy” and an average target price of $23.67.

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.