Barrick Gold Corp (NYSE:GOLD) Stake Lowered by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC cut its stake in shares of Barrick Gold Corp (NYSE:GOLDGet Rating) (TSE:ABX) by 9.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,638 shares of the gold and copper producer’s stock after selling 1,443 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Barrick Gold were worth $359,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Hazlett Burt & Watson Inc. bought a new position in Barrick Gold in the 1st quarter worth approximately $26,000. KRS Capital Management LLC bought a new position in Barrick Gold in the 4th quarter worth approximately $27,000. Tompkins Financial Corp bought a new position in Barrick Gold in the 1st quarter worth approximately $27,000. Glassman Wealth Services grew its holdings in Barrick Gold by 99.3% in the 1st quarter. Glassman Wealth Services now owns 1,160 shares of the gold and copper producer’s stock worth $28,000 after buying an additional 578 shares in the last quarter. Finally, JFS Wealth Advisors LLC grew its holdings in Barrick Gold by 91.6% in the 1st quarter. JFS Wealth Advisors LLC now owns 1,226 shares of the gold and copper producer’s stock worth $30,000 after buying an additional 586 shares in the last quarter. 58.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Barclays cut their target price on Barrick Gold from $28.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday, July 19th. National Bank Financial cut their target price on Barrick Gold from C$34.00 to C$26.00 in a research report on Thursday, July 21st. TheStreet downgraded Barrick Gold from a “b-” rating to a “c+” rating in a research report on Friday, July 29th. The Goldman Sachs Group assumed coverage on Barrick Gold in a research report on Monday, September 12th. They issued a “neutral” rating and a $18.00 target price for the company. Finally, Fundamental Research restated a “buy” rating and issued a $23.42 target price (down from $26.11) on shares of Barrick Gold in a research report on Tuesday, August 16th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.17.

Barrick Gold Price Performance

GOLD opened at $15.05 on Wednesday. The stock has a fifty day moving average of $15.74 and a 200-day moving average of $19.76. The firm has a market capitalization of $26.65 billion, a P/E ratio of 13.32, a PEG ratio of 7.46 and a beta of 0.33. Barrick Gold Corp has a 12-month low of $14.53 and a 12-month high of $26.07. The company has a quick ratio of 3.19, a current ratio of 3.95 and a debt-to-equity ratio of 0.16.

Barrick Gold (NYSE:GOLDGet Rating) (TSE:ABX) last released its earnings results on Monday, August 8th. The gold and copper producer reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.85 billion. Barrick Gold had a return on equity of 5.95% and a net margin of 16.87%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.29 earnings per share. Equities analysts forecast that Barrick Gold Corp will post 1.02 EPS for the current fiscal year.

Barrick Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were issued a $0.156 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.15%. Barrick Gold’s payout ratio is currently 72.57%.

About Barrick Gold

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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.

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Institutional Ownership by Quarter for Barrick Gold (NYSE:GOLD)

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