Barrick Gold Corp (NYSE:GOLD) Holdings Lowered by Wedbush Securities Inc.

Wedbush Securities Inc. trimmed its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 9.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,713 shares of the gold and copper producer’s stock after selling 1,546 shares during the quarter. Wedbush Securities Inc.’s holdings in Barrick Gold were worth $262,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Clean Yield Group bought a new stake in shares of Barrick Gold during the 1st quarter worth about $25,000. Principal Securities Inc. acquired a new position in shares of Barrick Gold in the 4th quarter worth approximately $26,000. Crewe Advisors LLC grew its stake in shares of Barrick Gold by 628.8% in the 2nd quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock worth $30,000 after purchasing an additional 1,572 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of 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 worth $32,000 after purchasing an additional 1,143 shares during the last quarter. Finally, Jackson Grant Investment Advisers Inc. acquired a new position in shares of Barrick Gold in the 2nd quarter worth approximately $32,000. 62.85% of the stock is currently owned by institutional investors.

Barrick Gold Stock Performance

Shares of GOLD opened at $20.84 on Friday. The company’s 50 day moving average price is $18.95 and its 200 day moving average price is $17.45. Barrick Gold Corp has a 52 week low of $13.76 and a 52 week high of $21.13. The company has a market capitalization of $36.53 billion, a PE ratio of 25.41, a PEG ratio of 0.49 and a beta of 0.55. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.49 and a current ratio of 3.01.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The company’s revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.19 earnings per share. Research analysts expect that Barrick Gold Corp will post 1.22 EPS for the current fiscal year.

Barrick Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Friday, August 30th. Barrick Gold’s dividend payout ratio (DPR) is presently 48.78%.

Wall Street Analysts Forecast Growth

GOLD has been the topic of several recent research reports. Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Thursday, August 29th. Royal Bank of Canada lifted their price objective on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Jefferies Financial Group lifted their target price on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday. Scotiabank lifted their target price on shares of Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Finally, CIBC lifted their target price on shares of Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Barrick Gold presently has an average rating of “Moderate Buy” and an average target price of $23.30.

Barrick Gold Company 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.