Cetera Investment Advisers Has $2.22 Million Holdings in Barrick Gold Corp (NYSE:B)

Cetera Investment Advisers lessened its position in Barrick Gold Corp (NYSE:B) (TSE:ABX) by 48.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 143,170 shares of the gold and copper producer’s stock after selling 133,461 shares during the period. Cetera Investment Advisers’ holdings in Barrick Gold were worth $2,219,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its holdings in Barrick Gold by 2.1% during the fourth quarter. Van ECK Associates Corp now owns 76,299,834 shares of the gold and copper producer’s stock worth $1,182,641,000 after acquiring an additional 1,563,361 shares during the period. Vanguard Group Inc. raised its stake in shares of Barrick Gold by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 68,358,533 shares of the gold and copper producer’s stock valued at $1,060,036,000 after purchasing an additional 1,195,585 shares during the period. Wellington Management Group LLP raised its stake in shares of Barrick Gold by 17.5% during the 4th quarter. Wellington Management Group LLP now owns 64,310,800 shares of the gold and copper producer’s stock valued at $996,802,000 after purchasing an additional 9,598,292 shares during the period. Capital International Investors increased its stake in Barrick Gold by 136.1% in the 4th quarter. Capital International Investors now owns 33,293,792 shares of the gold and copper producer’s stock worth $516,055,000 after acquiring an additional 19,189,830 shares during the last quarter. Finally, Amundi increased its stake in Barrick Gold by 1.7% in the 4th quarter. Amundi now owns 14,120,278 shares of the gold and copper producer’s stock worth $223,665,000 after acquiring an additional 236,116 shares during the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barrick Gold Stock Down 0.6%

B stock opened at $17.85 on Monday. Barrick Gold Corp has a twelve month low of $17.41 and a twelve month high of $47.50. The company has a quick ratio of 2.15, a current ratio of 2.89 and a debt-to-equity ratio of 0.14. The stock has a market cap of $30.69 billion, a P/E ratio of 14.51, a PEG ratio of 0.44 and a beta of 0.25. The business’s 50-day moving average price is $19.04 and its 200-day moving average price is $17.73.

Barrick Gold (NYSE:B) (TSE:ABX) last issued its earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.06. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.15 billion. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the company earned $0.19 EPS. On average, equities research analysts forecast that Barrick Gold Corp will post 1.47 EPS for the current year.

Barrick Gold announced that its board has initiated a share buyback program on Wednesday, February 12th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the gold and copper producer to buy up to 3.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Barrick Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.24%. The ex-dividend date is Friday, May 30th. Barrick Gold’s dividend payout ratio (DPR) is presently 30.08%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on B. Stifel Canada upgraded Barrick Gold to a “strong-buy” rating in a report on Wednesday, March 19th. Bank of America lowered Barrick Gold from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $21.00 to $18.00 in a research note on Monday, January 27th. StockNews.com began coverage on Barrick Gold in a research note on Monday, May 12th. They issued a “sell” rating for the company. UBS Group increased their price objective on Barrick Gold from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, April 11th. Finally, Scotiabank increased their price objective on Barrick Gold from $20.00 to $22.00 and gave the stock a “sector perform” rating in a report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.05.

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.