NBC Securities Inc. Decreases Stake in Barrick Gold Corp (NYSE:GOLD)

NBC Securities Inc. decreased its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 9.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 13,062 shares of the gold and copper producer’s stock after selling 1,340 shares during the quarter. NBC Securities Inc.’s holdings in Barrick Gold were worth $259,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GOLD. Creative Planning boosted its position in Barrick Gold by 6.4% during the third quarter. Creative Planning now owns 115,395 shares of the gold and copper producer’s stock worth $2,295,000 after acquiring an additional 6,902 shares during the last quarter. Sapient Capital LLC boosted its holdings in shares of Barrick Gold by 2.2% during the 3rd quarter. Sapient Capital LLC now owns 114,055 shares of the gold and copper producer’s stock worth $2,269,000 after purchasing an additional 2,435 shares during the last quarter. Exchange Traded Concepts LLC grew its position in shares of Barrick Gold by 198.1% in the third quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock valued at $28,000 after purchasing an additional 935 shares in the last quarter. Ritholtz Wealth Management increased its holdings in shares of Barrick Gold by 2.8% in the third quarter. Ritholtz Wealth Management now owns 18,163 shares of the gold and copper producer’s stock valued at $361,000 after purchasing an additional 502 shares during the last quarter. Finally, Evexia Wealth LLC acquired a new stake in shares of Barrick Gold in the third quarter valued at approximately $2,382,000. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GOLD. Scotiabank upped their target price on Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Jefferies Financial Group raised their price objective on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. UBS Group boosted their target price on shares of Barrick Gold from $22.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday. Royal Bank of Canada raised their price target on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Finally, Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Thursday, August 29th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.60.

Barrick Gold Stock Up 2.9 %

NYSE:GOLD opened at $20.92 on Friday. Barrick Gold Corp has a 52 week low of $13.76 and a 52 week high of $21.21. The stock’s fifty day moving average is $20.05 and its two-hundred day moving average is $18.22. The stock has a market capitalization of $36.67 billion, a price-to-earnings ratio of 25.51, a price-to-earnings-growth ratio of 0.47 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 posted its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. The firm 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 EPS. Research analysts anticipate that Barrick Gold Corp will post 1.27 EPS for the current year.

Barrick Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Friday, August 30th. Barrick Gold’s payout ratio is 48.78%.

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.