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

Kestra Private Wealth Services LLC increased its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 7.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 26,241 shares of the gold and copper producer’s stock after purchasing an additional 1,833 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Barrick Gold were worth $475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the business. Van ECK Associates Corp boosted its stake in Barrick Gold by 9.7% during the 4th quarter. Van ECK Associates Corp now owns 80,933,517 shares of the gold and copper producer’s stock valued at $1,464,070,000 after purchasing an additional 7,150,142 shares in the last quarter. Wellington Management Group LLP grew its holdings in Barrick Gold by 35.0% during the third quarter. Wellington Management Group LLP now owns 63,551,991 shares of the gold and copper producer’s stock worth $925,121,000 after acquiring an additional 16,485,756 shares during the period. Vanguard Group Inc. raised its position in Barrick Gold by 1.6% in the third quarter. Vanguard Group Inc. now owns 62,567,785 shares of the gold and copper producer’s stock worth $910,361,000 after acquiring an additional 956,452 shares in the last quarter. FMR LLC raised its position in Barrick Gold by 12.2% in the third quarter. FMR LLC now owns 43,399,480 shares of the gold and copper producer’s stock worth $631,228,000 after acquiring an additional 4,731,559 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in Barrick Gold by 4.4% in the 4th quarter. Mackenzie Financial Corp now owns 18,783,046 shares of the gold and copper producer’s stock valued at $339,524,000 after acquiring an additional 787,829 shares during the last quarter. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on GOLD shares. Argus reiterated a “hold” rating on shares of Barrick Gold in a report on Monday, February 26th. Sanford C. Bernstein downgraded Barrick Gold from an “outperform” rating to a “market perform” rating in a research report on Monday, January 8th. BMO Capital Markets decreased their target price on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. StockNews.com raised Barrick Gold from a “hold” rating to a “buy” rating in a report on Wednesday, February 21st. Finally, Scotiabank dropped their price target on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.60.

Barrick Gold Stock Up 1.3 %

Shares of GOLD stock opened at $16.68 on Tuesday. Barrick Gold Corp has a one year low of $13.76 and a one year high of $20.26. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.32 and a quick ratio of 2.49. The stock has a fifty day moving average price of $16.38 and a 200 day moving average price of $16.35. The stock has a market cap of $29.28 billion, a P/E ratio of 20.34, a price-to-earnings-growth ratio of 1.44 and a beta of 0.59.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.04. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. The firm had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.74 billion. During the same quarter in the prior year, the business posted $0.14 earnings per share. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. Analysts predict that Barrick Gold Corp will post 0.95 earnings per share for the current year.

Barrick Gold Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be issued a dividend of $0.10 per share. This is an increase from Barrick Gold’s previous quarterly dividend of $0.07. This represents a $0.40 annualized dividend and a yield of 2.40%. The ex-dividend date is Friday, May 31st. Barrick Gold’s dividend payout ratio (DPR) is currently 48.78%.

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.