J.W. Cole Advisors Inc. Sells 6,046 Shares of Barrick Gold Corp (NYSE:GOLD)

J.W. Cole Advisors Inc. trimmed its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 17.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,382 shares of the gold and copper producer’s stock after selling 6,046 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Barrick Gold were worth $490,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Edge Wealth Management LLC raised its holdings in shares of Barrick Gold by 6.3% during the 1st quarter. Edge Wealth Management LLC now owns 12,255 shares of the gold and copper producer’s stock worth $204,000 after acquiring an additional 725 shares in the last quarter. Greenleaf Trust raised its stake in Barrick Gold by 3.5% during the first quarter. Greenleaf Trust now owns 25,119 shares of the gold and copper producer’s stock valued at $418,000 after purchasing an additional 838 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co lifted its position in Barrick Gold by 2.4% during the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 36,519 shares of the gold and copper producer’s stock valued at $608,000 after purchasing an additional 850 shares during the last quarter. Bangor Savings Bank grew its stake in shares of Barrick Gold by 4.4% in the 2nd quarter. Bangor Savings Bank now owns 21,445 shares of the gold and copper producer’s stock worth $358,000 after buying an additional 904 shares in the last quarter. Finally, S.A. Mason LLC increased its holdings in shares of Barrick Gold by 3.5% in the 1st quarter. S.A. Mason LLC now owns 28,543 shares of the gold and copper producer’s stock worth $475,000 after buying an additional 973 shares during the last quarter. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Gold Stock Performance

Shares of NYSE:GOLD opened at $20.47 on Wednesday. The firm’s 50 day simple moving average is $19.07 and its 200-day simple moving average is $17.55. 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 Corp has a one year low of $13.76 and a one year high of $21.13. The firm has a market cap of $35.88 billion, a PE ratio of 24.96, a price-to-earnings-growth ratio of 0.49 and a beta of 0.55.

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

Barrick Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend was Friday, August 30th. Barrick Gold’s dividend payout ratio (DPR) is 48.78%.

Wall Street Analyst Weigh In

GOLD has been the subject of a number of analyst reports. CIBC increased their price target on shares of Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Thursday, August 29th. Royal Bank of Canada boosted their target price on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Scotiabank raised their price target on 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, Jefferies Financial Group boosted their price objective on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, September 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.30.

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.