Barrick Gold Corp (NYSE:GOLD) Stake Reduced by Cetera Investment Advisers

Cetera Investment Advisers trimmed its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 15.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 287,660 shares of the gold and copper producer’s stock after selling 54,194 shares during the quarter. Cetera Investment Advisers’ holdings in Barrick Gold were worth $4,798,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of GOLD. Schroder Investment Management Group grew its holdings in Barrick Gold by 3.8% in the 4th quarter. Schroder Investment Management Group now owns 1,538,763 shares of the gold and copper producer’s stock worth $27,836,000 after buying an additional 57,000 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Barrick Gold by 58.4% in the fourth quarter. Wellington Management Group LLP now owns 100,680,644 shares of the gold and copper producer’s stock worth $1,821,963,000 after purchasing an additional 37,128,653 shares in the last quarter. Wahed Invest LLC increased its holdings in shares of Barrick Gold by 10.4% during the fourth quarter. Wahed Invest LLC now owns 13,790 shares of the gold and copper producer’s stock valued at $250,000 after purchasing an additional 1,300 shares during the period. Vanguard Group Inc. raised its stake in shares of Barrick Gold by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 63,671,495 shares of the gold and copper producer’s stock valued at $1,151,817,000 after purchasing an additional 1,103,710 shares in the last quarter. Finally, HighPoint Advisor Group LLC acquired a new stake in Barrick Gold in the fourth quarter worth about $519,000. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Stock Down 1.2 %

GOLD stock opened at $19.65 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.01 and a quick ratio of 2.31. The firm has a market capitalization of $34.44 billion, a P/E ratio of 23.95, a P/E/G ratio of 0.49 and a beta of 0.55. Barrick Gold Corp has a 52-week low of $13.76 and a 52-week high of $21.21. The company’s 50 day simple moving average is $19.61 and its 200-day simple moving average is $18.00.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the previous year, the business earned $0.19 EPS. The company’s revenue was up 11.6% on a year-over-year basis. As a group, equities research analysts anticipate that Barrick Gold Corp will post 1.25 EPS for the current year.

Barrick Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.40 annualized dividend and a yield of 2.04%. Barrick Gold’s dividend payout ratio (DPR) is presently 48.78%.

Analysts Set New Price Targets

Several research firms have commented on GOLD. Scotiabank raised their target price on shares of Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Royal Bank of Canada boosted their target price on Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Jefferies Financial Group increased their price target on Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, September 13th. CIBC upped their price objective on Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Finally, Raymond James lowered their target price on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a report on Thursday, September 26th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Barrick Gold currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.67.

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.