Cetera Advisor Networks LLC Trims Stock Position in Barrick Gold Corp (NYSE:GOLD)

Cetera Advisor Networks LLC lessened its stake in shares of Barrick Gold Corp (NYSE:GOLDFree Report) (TSE:ABX) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 229,637 shares of the gold and copper producer’s stock after selling 3,232 shares during the quarter. Cetera Advisor Networks LLC’s holdings in Barrick Gold were worth $4,154,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Principal Securities Inc. purchased a new stake in Barrick Gold in the 4th quarter valued at $26,000. EverSource Wealth Advisors LLC raised its position in Barrick Gold by 175.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock valued at $32,000 after purchasing an additional 1,143 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new stake in Barrick Gold in the 4th quarter valued at $35,000. Mark Sheptoff Financial Planning LLC purchased a new stake in Barrick Gold in the 4th quarter valued at $45,000. Finally, Optiver Holding B.V. purchased a new stake in Barrick Gold in the 4th quarter valued at $46,000. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Barrick Gold Stock Performance

NYSE:GOLD opened at $16.45 on Tuesday. The company has a quick ratio of 2.49, a current ratio of 3.32 and a debt-to-equity ratio of 0.15. Barrick Gold Corp has a fifty-two week low of $13.76 and a fifty-two week high of $18.95. The stock has a market cap of $28.88 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 0.40 and a beta of 0.59. The firm’s fifty day simple moving average is $17.10 and its 200-day simple moving average is $16.54.

Barrick Gold (NYSE:GOLDGet Free Report) (TSE:ABX) last posted its quarterly earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. The business had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same period in the prior year, the company posted $0.14 EPS. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. Analysts expect that Barrick Gold Corp will post 1.06 earnings per share for the current fiscal year.

Barrick Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, May 31st. This is a boost from Barrick Gold’s previous quarterly dividend of $0.07. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.43%. Barrick Gold’s dividend payout ratio is 47.56%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Raymond James reduced their price target on shares of Barrick Gold from $24.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, February 15th. National Bank Financial reiterated a “sector perform overweight” rating on shares of Barrick Gold in a research report on Monday, April 8th. TD Securities dropped their price objective on shares of Barrick Gold from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $18.00 price objective on shares of Barrick Gold in a research note on Monday, March 4th. Finally, StockNews.com raised shares of Barrick Gold from a “hold” rating to a “buy” rating in a research note on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.60.

Check Out Our Latest Report on GOLD

About Barrick Gold

(Free Report)

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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