Wallace Advisory Group LLC Lowers Holdings in Barrick Gold Corp (NYSE:GOLD)

Wallace Advisory Group LLC decreased its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 2.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,026 shares of the gold and copper producer’s stock after selling 586 shares during the quarter. Wallace Advisory Group LLC’s holdings in Barrick Gold were worth $398,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOLD. Clean Yield Group purchased a new stake in Barrick Gold in the 1st quarter valued at about $25,000. Crewe Advisors LLC grew its holdings in Barrick Gold by 628.8% in the 2nd quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock valued at $30,000 after buying an additional 1,572 shares during the period. Jackson Grant Investment Advisers Inc. purchased a new stake in shares of Barrick Gold during the 2nd quarter worth about $32,000. LRI Investments LLC purchased a new stake in shares of Barrick Gold during the 1st quarter worth about $37,000. Finally, City State Bank grew its holdings in shares of Barrick Gold by 338.6% during the 2nd quarter. City State Bank now owns 2,500 shares of the gold and copper producer’s stock worth $42,000 after purchasing an additional 1,930 shares during the period. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Barrick Gold Stock Up 1.3 %

Shares of GOLD traded up $0.26 during trading on Friday, reaching $20.11. The company’s stock had a trading volume of 20,038,452 shares, compared to its average volume of 21,307,180. The company has a fifty day moving average of $19.57 and a two-hundred day moving average of $17.94. Barrick Gold Corp has a twelve month low of $13.76 and a twelve month high of $21.21. The company has a market cap of $35.25 billion, a price-to-earnings ratio of 24.54, 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same period in the prior year, the company posted $0.19 EPS. Barrick Gold’s quarterly revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts predict that Barrick Gold Corp will post 1.25 EPS for the current fiscal year.

Barrick Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a $0.10 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.99%. Barrick Gold’s dividend payout ratio (DPR) is 48.78%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Scotiabank boosted 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. Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Thursday, August 29th. Raymond James decreased their target price on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a report on Thursday, September 26th. Jefferies Financial Group boosted their target price on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Finally, CIBC boosted their price target on Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.60.

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.