Ritholtz Wealth Management Has $361,000 Position in Barrick Gold Corp (NYSE:GOLD)

Ritholtz Wealth Management lifted its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 2.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 18,163 shares of the gold and copper producer’s stock after purchasing an additional 502 shares during the period. Ritholtz Wealth Management’s holdings in Barrick Gold were worth $361,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Clean Yield Group bought a new stake in shares of Barrick Gold during the first quarter worth $25,000. Crewe Advisors LLC grew its holdings in shares of Barrick Gold by 628.8% during the second quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock worth $30,000 after purchasing an additional 1,572 shares during the last quarter. Jackson Grant Investment Advisers Inc. bought a new stake in shares of Barrick Gold during the second quarter worth $32,000. LRI Investments LLC bought a new stake in shares of Barrick Gold during the first quarter worth $37,000. Finally, City State Bank grew its holdings in shares of Barrick Gold by 338.6% during the second 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 last quarter. Institutional investors own 62.85% of the company’s stock.

Wall Street Analysts Forecast Growth

GOLD has been the topic of several recent research reports. CIBC raised their price target on Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. UBS Group raised their price target on Barrick Gold from $22.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday. Jefferies Financial Group raised their price target on Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a report on Friday, September 13th. Raymond James decreased their price target on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a report on Thursday, September 26th. Finally, Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Thursday, August 29th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.60.

Barrick Gold Price Performance

Shares of GOLD opened at $19.93 on Thursday. The company has a current ratio of 3.01, a quick ratio of 2.31 and a debt-to-equity ratio of 0.15. Barrick Gold Corp has a 1 year low of $13.76 and a 1 year high of $21.21. The stock has a market cap of $34.93 billion, a P/E ratio of 24.30, a price-to-earnings-growth ratio of 0.47 and a beta of 0.55. The stock’s 50-day moving average price is $19.92 and its two-hundred day moving average price is $18.18.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. Barrick Gold’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.19 earnings per share. On average, equities analysts predict that Barrick Gold Corp will post 1.27 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. Stockholders of record on Friday, August 30th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Friday, August 30th. Barrick Gold’s dividend payout ratio is currently 48.78%.

Barrick Gold 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.