Bleakley Financial Group LLC Sells 2,490 Shares of Barrick Gold Corp (NYSE:GOLD)

Bleakley Financial Group LLC lessened its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 8.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,675 shares of the gold and copper producer’s stock after selling 2,490 shares during the period. Bleakley Financial Group LLC’s holdings in Barrick Gold were worth $511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in GOLD. Ritholtz Wealth Management lifted its position in Barrick Gold by 2.8% during the third quarter. Ritholtz Wealth Management now owns 18,163 shares of the gold and copper producer’s stock valued at $361,000 after acquiring an additional 502 shares during the last quarter. Silverlake Wealth Management LLC boosted its position in shares of Barrick Gold by 1.3% in the 3rd quarter. Silverlake Wealth Management LLC now owns 49,890 shares of the gold and copper producer’s stock worth $992,000 after purchasing an additional 628 shares in the last quarter. Edge Wealth Management LLC grew its stake in 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 buying an additional 725 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Barrick Gold by 1.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 38,999 shares of the gold and copper producer’s stock valued at $650,000 after buying an additional 731 shares in the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co raised its stake in Barrick Gold by 2.4% in 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 buying an additional 850 shares during the last quarter. 62.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GOLD has been the topic of a number of research analyst reports. CIBC boosted their price target on Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Royal Bank of Canada raised their price target on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. UBS Group boosted their price objective on shares of Barrick Gold from $22.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Raymond James reduced their target price on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a research note on Thursday, September 26th. Finally, Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Thursday, August 29th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.60.

Barrick Gold Trading Down 0.3 %

Shares of NYSE:GOLD opened at $20.86 on Tuesday. The company has a current ratio of 3.01, a quick ratio of 2.31 and a debt-to-equity ratio of 0.15. Barrick Gold Corp has a 12-month low of $13.76 and a 12-month high of $21.35. The business has a 50 day moving average of $20.08 and a two-hundred day moving average of $18.26. The company has a market capitalization of $36.56 billion, a PE ratio of 25.44, a PEG ratio of 0.47 and a beta of 0.55.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The firm had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the prior year, the firm posted $0.19 earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, analysts forecast that Barrick Gold Corp will post 1.27 EPS for the current year.

Barrick Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.40 annualized dividend and a dividend yield of 1.92%. Barrick Gold’s dividend payout ratio is presently 48.78%.

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.