Kestra Private Wealth Services LLC Has $359,000 Stake in Barrick Gold Corp (NYSE:GOLD)

Kestra Private Wealth Services LLC trimmed its holdings in shares of Barrick Gold Corp (NYSE:GOLDGet Rating) (TSE:ABX) by 9.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 14,638 shares of the gold and copper producer’s stock after selling 1,443 shares during the period. Kestra Private Wealth Services LLC’s holdings in Barrick Gold were worth $359,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Capital World Investors increased its position in Barrick Gold by 12.3% during the first quarter. Capital World Investors now owns 72,051,877 shares of the gold and copper producer’s stock worth $1,767,341,000 after buying an additional 7,901,325 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Barrick Gold by 2.5% in the first quarter. Vanguard Group Inc. now owns 56,601,028 shares of the gold and copper producer’s stock valued at $1,388,423,000 after purchasing an additional 1,379,254 shares during the last quarter. Invesco Ltd. grew its position in shares of Barrick Gold by 12.4% in the first quarter. Invesco Ltd. now owns 23,057,924 shares of the gold and copper producer’s stock valued at $565,610,000 after purchasing an additional 2,540,995 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of Barrick Gold by 12.7% in the first quarter. Mackenzie Financial Corp now owns 18,746,318 shares of the gold and copper producer’s stock valued at $458,370,000 after purchasing an additional 2,118,203 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Barrick Gold by 40.8% in the first quarter. Wellington Management Group LLP now owns 17,824,320 shares of the gold and copper producer’s stock valued at $437,387,000 after purchasing an additional 5,164,698 shares during the last quarter. 58.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GOLD shares. Stifel Nicolaus lowered their price target on Barrick Gold from C$41.00 to C$35.25 in a research report on Wednesday, July 20th. National Bank Financial lowered their price target on Barrick Gold from C$34.00 to C$26.00 in a research report on Thursday, July 21st. TheStreet downgraded Barrick Gold from a “b-” rating to a “c+” rating in a research report on Friday, July 29th. The Goldman Sachs Group began coverage on shares of Barrick Gold in a research note on Monday, September 12th. They issued a “neutral” rating and a $18.00 target price for the company. Finally, Barclays reduced their target price on shares of Barrick Gold from $28.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday, July 19th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $27.17.

Barrick Gold Stock Down 2.9 %

Shares of GOLD opened at $15.05 on Wednesday. The stock has a market cap of $26.65 billion, a price-to-earnings ratio of 13.32, a P/E/G ratio of 7.46 and a beta of 0.33. The company has a quick ratio of 3.19, a current ratio of 3.95 and a debt-to-equity ratio of 0.16. Barrick Gold Corp has a 12 month low of $14.53 and a 12 month high of $26.07. The company has a 50-day moving average price of $15.74 and a two-hundred day moving average price of $19.76.

Barrick Gold (NYSE:GOLDGet Rating) (TSE:ABX) last announced its quarterly earnings results on Monday, August 8th. The gold and copper producer reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The firm had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.85 billion. Barrick Gold had a net margin of 16.87% and a return on equity of 5.95%. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.29 earnings per share. Equities analysts predict that Barrick Gold Corp will post 1.02 EPS for the current fiscal year.

Barrick Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were issued a dividend of $0.156 per share. This represents a $0.62 annualized dividend and a dividend yield of 4.15%. The ex-dividend date was Tuesday, August 30th. Barrick Gold’s payout ratio is 72.57%.

About Barrick Gold

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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.

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Institutional Ownership by Quarter for Barrick Gold (NYSE:GOLD)

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