Wallace Advisory Group LLC Has $344,000 Stake in Barrick Gold Corp (NYSE:GOLD)

Wallace Advisory Group LLC cut its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 3.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,612 shares of the gold and copper producer’s stock after selling 669 shares during the period. Wallace Advisory Group LLC’s holdings in Barrick Gold were worth $344,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Barrick Gold by 1.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 38,999 shares of the gold and copper producer’s stock valued at $650,000 after purchasing an additional 731 shares during the last quarter. NewEdge Advisors LLC increased its stake in Barrick Gold by 61.0% in the 2nd quarter. NewEdge Advisors LLC now owns 164,352 shares of the gold and copper producer’s stock valued at $2,741,000 after buying an additional 62,271 shares during the last quarter. Coastal Bridge Advisors LLC lifted its position in Barrick Gold by 8.3% during the 2nd quarter. Coastal Bridge Advisors LLC now owns 12,991 shares of the gold and copper producer’s stock worth $217,000 after buying an additional 1,000 shares in the last quarter. Creative Planning boosted its stake in shares of Barrick Gold by 25.6% during the 2nd quarter. Creative Planning now owns 108,493 shares of the gold and copper producer’s stock worth $1,810,000 after buying an additional 22,103 shares during the last quarter. Finally, EdgePoint Investment Group Inc. grew its holdings in shares of Barrick Gold by 3.7% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 18,837,028 shares of the gold and copper producer’s stock valued at $314,254,000 after acquiring an additional 666,214 shares in the last quarter. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Stock Down 3.7 %

Shares of GOLD opened at $20.23 on Monday. The firm’s 50-day simple moving average is $19.38 and its 200 day simple moving average is $17.82. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.31 and a current ratio of 3.01. The firm has a market cap of $35.46 billion, a P/E ratio of 24.67, a price-to-earnings-growth 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.

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 for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.19 earnings per share. On average, analysts forecast that Barrick Gold Corp will post 1.25 earnings per share for the current year.

Barrick Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date was Friday, August 30th. Barrick Gold’s dividend payout ratio is currently 48.78%.

Wall Street Analyst Weigh In

GOLD has been the topic of several analyst reports. Scotiabank upped their target price on Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. CIBC upped their price objective on Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Jefferies Financial Group raised their target price on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Thursday, August 29th. Finally, Raymond James decreased their price objective on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a research report on Thursday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.60.

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.