Diversify Advisory Services LLC Cuts Stake in Barrick Gold Corp (NYSE:GOLD)

Diversify Advisory Services LLC reduced its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 23.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 13,376 shares of the gold and copper producer’s stock after selling 4,021 shares during the period. Diversify Advisory Services LLC’s holdings in Barrick Gold were worth $283,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOLD. Kovack Advisors Inc. boosted its holdings in shares of Barrick Gold by 16.9% in the 1st quarter. Kovack Advisors Inc. now owns 30,122 shares of the gold and copper producer’s stock worth $501,000 after buying an additional 4,345 shares during the last quarter. Norden Group LLC boosted its holdings in shares of Barrick Gold by 55.2% in the 1st quarter. Norden Group LLC now owns 25,971 shares of the gold and copper producer’s stock worth $432,000 after buying an additional 9,240 shares during the last quarter. J.W. Cole Advisors Inc. boosted its holdings in shares of Barrick Gold by 3.0% in the 1st quarter. J.W. Cole Advisors Inc. now owns 35,428 shares of the gold and copper producer’s stock worth $590,000 after buying an additional 1,047 shares during the last quarter. Private Advisor Group LLC lifted its holdings in Barrick Gold by 4.8% during the first quarter. Private Advisor Group LLC now owns 235,068 shares of the gold and copper producer’s stock valued at $3,912,000 after purchasing an additional 10,775 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its holdings in Barrick Gold by 9.5% during the first quarter. Sequoia Financial Advisors LLC now owns 13,798 shares of the gold and copper producer’s stock valued at $230,000 after purchasing an additional 1,196 shares during the last quarter. 62.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GOLD has been the topic of several recent research reports. Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Thursday, August 29th. Scotiabank upped their price objective on shares of Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Raymond James dropped their price objective on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a report on Thursday, September 26th. Royal Bank of Canada increased 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, CIBC increased their price target on shares of Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Barrick Gold presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.50.

Barrick Gold Trading Down 3.6 %

Shares of GOLD opened at $19.32 on Friday. The firm’s 50 day simple moving average is $20.14 and its 200 day simple moving average is $18.38. The company has a market capitalization of $33.77 billion, a P/E ratio of 22.47, a P/E/G ratio of 0.47 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. Barrick Gold Corp has a 1-year low of $13.76 and a 1-year high of $21.35.

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 for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The business had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. Barrick Gold’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the firm posted $0.19 earnings per share. Sell-side analysts forecast that Barrick Gold Corp will post 1.27 earnings per share for the current fiscal year.

Barrick Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date was Friday, August 30th. Barrick Gold’s dividend payout ratio is currently 46.51%.

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.