EverSource Wealth Advisors LLC Has $30,000 Stock Holdings in Barrick Gold Corp (NYSE:GOLD)

EverSource Wealth Advisors LLC reduced its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 28.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,916 shares of the gold and copper producer’s stock after selling 773 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Barrick Gold were worth $30,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. The Manufacturers Life Insurance Company boosted its stake in Barrick Gold by 33.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,431,497 shares of the gold and copper producer’s stock valued at $227,524,000 after purchasing an additional 2,854,055 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Barrick Gold by 2.1% in the fourth quarter. Van ECK Associates Corp now owns 76,299,834 shares of the gold and copper producer’s stock valued at $1,182,641,000 after purchasing an additional 1,563,361 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Barrick Gold by 2.7% during the third quarter. Wellington Management Group LLP now owns 54,712,508 shares of the gold and copper producer’s stock valued at $1,088,484,000 after buying an additional 1,458,084 shares during the last quarter. Ruffer LLP boosted its position in shares of Barrick Gold by 14.8% during the fourth quarter. Ruffer LLP now owns 10,269,848 shares of the gold and copper producer’s stock valued at $159,180,000 after buying an additional 1,325,119 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in Barrick Gold in the 3rd quarter valued at $20,379,000. 62.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GOLD has been the topic of a number of analyst reports. Berenberg Bank lifted their price objective on shares of Barrick Gold from $37.00 to $38.00 in a report on Tuesday, November 26th. Citigroup reduced their price objective on shares of Barrick Gold from $23.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. UBS Group raised shares of Barrick Gold from a “neutral” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Wednesday, March 5th. Scotiabank upped their target price on Barrick Gold from $19.00 to $20.00 and gave the company a “sector perform” rating in a report on Tuesday, February 18th. Finally, Cibc World Mkts lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.75.

Barrick Gold Price Performance

Shares of NYSE:GOLD opened at $19.28 on Friday. The firm has a market capitalization of $33.26 billion, a PE ratio of 15.67, a P/E/G ratio of 0.44 and a beta of 0.58. 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 company has a 50-day moving average price of $17.44 and a two-hundred day moving average price of $18.06. Barrick Gold Corp has a twelve month low of $0.25 and a twelve month high of $21.35.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings data on Wednesday, February 12th. The gold and copper producer reported $0.46 EPS for the quarter, hitting the consensus estimate of $0.46. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. Equities analysts forecast that Barrick Gold Corp will post 1.47 EPS for the current year.

Barrick Gold announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the gold and copper producer to purchase up to 3.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Barrick Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.40 dividend on an annualized basis and a yield of 2.08%. Barrick Gold’s dividend payout ratio (DPR) is 32.52%.

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.