Steward Partners Investment Advisory LLC Acquires 24,176 Shares of Barrick Gold Corp (NYSE:GOLD)

Steward Partners Investment Advisory LLC increased its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 66.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,620 shares of the gold and copper producer’s stock after acquiring an additional 24,176 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Barrick Gold were worth $940,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of GOLD. Moors & Cabot Inc. grew its holdings in Barrick Gold by 0.9% during the third quarter. Moors & Cabot Inc. now owns 64,085 shares of the gold and copper producer’s stock valued at $1,275,000 after purchasing an additional 579 shares during the period. Chelsea Counsel Co. grew its holdings in Barrick Gold by 1.4% during the third quarter. Chelsea Counsel Co. now owns 42,973 shares of the gold and copper producer’s stock valued at $855,000 after purchasing an additional 590 shares during the period. Avior Wealth Management LLC grew its holdings in Barrick Gold by 24.1% during the third quarter. Avior Wealth Management LLC now owns 3,399 shares of the gold and copper producer’s stock valued at $68,000 after purchasing an additional 659 shares during the period. VisionPoint Advisory Group LLC grew its holdings in Barrick Gold by 6.7% during the fourth quarter. VisionPoint Advisory Group LLC now owns 14,051 shares of the gold and copper producer’s stock valued at $224,000 after purchasing an additional 880 shares during the period. Finally, Bangor Savings Bank grew its holdings in Barrick Gold by 4.5% during the fourth quarter. Bangor Savings Bank now owns 22,025 shares of the gold and copper producer’s stock valued at $341,000 after purchasing an additional 956 shares during the period. 62.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GOLD has been the subject of several research reports. Scotiabank increased their price objective on Barrick Gold from $19.00 to $20.00 and gave the company a “sector perform” rating in a report on Tuesday, February 18th. Berenberg Bank increased their price objective on Barrick Gold from $37.00 to $38.00 in a report on Tuesday, November 26th. Cibc World Mkts lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. UBS Group raised Barrick Gold from a “neutral” rating to a “buy” rating and set a $22.00 price target for the company in a report on Wednesday, March 5th. Finally, CIBC cut Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday, November 25th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.75.

Barrick Gold Trading Down 2.3 %

Shares of GOLD stock opened at $18.17 on Tuesday. The stock has a market capitalization of $31.37 billion, a PE ratio of 14.77, a P/E/G ratio of 0.44 and a beta of 0.58. Barrick Gold Corp has a 1-year low of $15.11 and a 1-year high of $21.35. The business has a 50-day moving average of $16.92 and a 200 day moving average of $18.11. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share for the quarter, meeting the consensus estimate of $0.46. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. As a group, sell-side analysts anticipate that Barrick Gold Corp will post 1.47 earnings per share for the current year.

Barrick Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.20%. The ex-dividend date is Friday, February 28th. Barrick Gold’s dividend payout ratio is presently 32.52%.

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

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.