A. D. Beadell Investment Counsel Inc. Trims Holdings in Barrick Gold Corp (NYSE:GOLD)

A. D. Beadell Investment Counsel Inc. cut its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 5.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 73,985 shares of the gold and copper producer’s stock after selling 4,665 shares during the quarter. A. D. Beadell Investment Counsel Inc.’s holdings in Barrick Gold were worth $1,471,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in GOLD. Wellington Management Group LLP boosted its stake in Barrick Gold by 58.4% during the fourth 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 buying an additional 37,128,653 shares during the period. First Eagle Investment Management LLC lifted its stake in Barrick Gold by 31.6% during 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 purchasing an additional 14,138,639 shares during the last quarter. EdgePoint Investment Group Inc. lifted its stake in Barrick Gold by 38.8% during 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 purchasing an additional 5,080,510 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Barrick Gold by 4,713.3% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,144,456 shares of the gold and copper producer’s stock worth $69,141,000 after purchasing an additional 4,058,351 shares during the last quarter. Finally, Letko Brosseau & Associates Inc. bought a new stake in Barrick Gold during the second quarter worth about $66,820,000. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Gold Trading Up 0.8 %

NYSE:GOLD traded up $0.16 during mid-day trading on Thursday, reaching $19.82. 4,509,033 shares of the company’s stock traded hands, compared to its average volume of 21,136,754. Barrick Gold Corp has a 12-month low of $13.76 and a 12-month high of $21.21. The firm has a market capitalization of $34.74 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 0.49 and a beta of 0.55. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.01 and a quick ratio of 2.31. The company has a 50 day moving average price of $19.66 and a 200-day moving average price of $18.04.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly 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 the consensus estimate of $3.13 billion. During the same quarter in the previous year, the business earned $0.19 EPS. Barrick Gold’s revenue was up 11.6% compared to the same quarter last year. On average, sell-side analysts predict that Barrick Gold Corp will post 1.25 earnings per share for the current year.

Barrick Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a yield of 2.02%. Barrick Gold’s dividend payout ratio is presently 48.78%.

Analysts Set New Price Targets

GOLD has been the subject of several research analyst reports. CIBC lifted their price target on Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Scotiabank lifted their price target on Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Thursday, August 29th. Jefferies Financial Group lifted their price target on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Finally, Raymond James lowered their target price on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a research note on Thursday, September 26th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $23.67.

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.