Wedbush Securities Inc. Has $262,000 Stock Holdings in Barrick Gold Corp (NYSE:GOLD)

Wedbush Securities Inc. trimmed its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 9.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,713 shares of the gold and copper producer’s stock after selling 1,546 shares during the quarter. Wedbush Securities Inc.’s holdings in Barrick Gold were worth $262,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Clean Yield Group bought a new stake in shares of Barrick Gold during the 1st quarter worth $25,000. Principal Securities Inc. bought a new stake in shares of Barrick Gold during the 4th quarter worth $26,000. Crewe Advisors LLC boosted its holdings in shares of Barrick Gold by 628.8% during the 2nd quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock worth $30,000 after buying an additional 1,572 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Barrick Gold by 175.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock worth $32,000 after buying an additional 1,143 shares during the period. Finally, Jackson Grant Investment Advisers Inc. bought a new stake in shares of Barrick Gold during the 2nd quarter worth $32,000. 62.85% of the stock is owned by institutional investors.

Barrick Gold Trading Up 1.3 %

Shares of Barrick Gold stock opened at $20.84 on Friday. The stock has a market capitalization of $36.53 billion, a P/E ratio of 25.41, a price-to-earnings-growth ratio of 0.49 and a beta of 0.55. The company has a quick ratio of 2.49, a current ratio of 3.01 and a debt-to-equity ratio of 0.15. The company has a 50-day simple moving average of $18.95 and a 200 day simple moving average of $17.45. Barrick Gold Corp has a 12-month low of $13.76 and a 12-month high of $21.13.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. The business had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the company posted $0.19 EPS. Research analysts expect that Barrick Gold Corp will post 1.22 earnings per share for the current fiscal year.

Barrick Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Friday, August 30th. Barrick Gold’s payout ratio is presently 48.78%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on GOLD shares. CIBC increased their price target on shares of Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Royal Bank of Canada increased their price target on shares of Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Scotiabank increased their price target on shares of Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Jefferies Financial Group increased their price target on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a report on Friday. Finally, Argus upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $23.30.

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.