Barrick Gold Corp (NYSE:GOLD) Shares Sold by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC reduced its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 52.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,975 shares of the gold and copper producer’s stock after selling 2,177 shares during the period. EverSource Wealth Advisors LLC’s holdings in Barrick Gold were worth $37,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in GOLD. Wellington Management Group LLP raised its position in shares of Barrick Gold by 58.4% during the 4th quarter. Wellington Management Group LLP now owns 100,680,644 shares of the gold and copper producer’s stock valued at $1,821,963,000 after acquiring an additional 37,128,653 shares in the last quarter. First Eagle Investment Management LLC increased its position in Barrick Gold by 31.6% in the first quarter. First Eagle Investment Management LLC now owns 58,820,050 shares of the gold and copper producer’s stock worth $978,766,000 after buying an additional 14,138,639 shares during the period. Capital World Investors increased its position in Barrick Gold by 16.4% in the fourth quarter. Capital World Investors now owns 45,479,229 shares of the gold and copper producer’s stock worth $821,790,000 after buying an additional 6,417,244 shares during the period. EdgePoint Investment Group Inc. increased its position in Barrick Gold by 38.8% in the first quarter. EdgePoint Investment Group Inc. now owns 18,170,814 shares of the gold and copper producer’s stock worth $302,366,000 after buying an additional 5,080,510 shares during the period. Finally, Letko Brosseau & Associates Inc. acquired a new stake in Barrick Gold in the second quarter worth $66,820,000. 62.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on GOLD shares. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Thursday, August 29th. Jefferies Financial Group increased their target price on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Raymond James dropped their target price on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a research report on Thursday. Scotiabank increased their target price on Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Finally, CIBC increased their target price on Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.60.

Barrick Gold Trading Down 3.7 %

Shares of GOLD stock opened at $20.23 on Friday. The stock has a 50-day simple moving average of $19.38 and a 200 day simple moving average of $17.79. Barrick Gold Corp has a fifty-two week low of $13.76 and a fifty-two week high of $21.21. The stock has a market capitalization of $35.46 billion, a P/E ratio of 24.67, a P/E/G ratio of 0.49 and a beta of 0.55. The company has a quick ratio of 2.31, a current ratio of 3.01 and a debt-to-equity ratio of 0.15.

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, beating the consensus estimate of $0.27 by $0.05. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The business had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter last year, the business posted $0.19 earnings per share. The company’s quarterly revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts expect that Barrick Gold Corp will post 1.25 earnings per share for the current fiscal year.

Barrick Gold Announces Dividend

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

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.