AMJ Financial Wealth Management Invests $286,000 in Barrick Gold Corp (NYSE:GOLD)

AMJ Financial Wealth Management acquired a new stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) during the second quarter, according to its most recent filing with the SEC. The firm acquired 16,900 shares of the gold and copper producer’s stock, valued at approximately $286,000.

A number of other large investors also recently bought and sold shares of GOLD. HM Payson & Co. lifted its holdings in Barrick Gold by 58.2% in the second quarter. HM Payson & Co. now owns 1,740 shares of the gold and copper producer’s stock valued at $29,000 after acquiring an additional 640 shares during the period. RFP Financial Group LLC acquired a new stake in Barrick Gold in the second quarter valued at $30,000. Venturi Wealth Management LLC purchased a new position in shares of Barrick Gold in the first quarter valued at $32,000. Resurgent Financial Advisors LLC acquired a new position in shares of Barrick Gold during the 4th quarter worth $36,000. Finally, FWL Investment Management LLC purchased a new stake in shares of Barrick Gold in the 4th quarter worth about $36,000. Hedge funds and other institutional investors own 58.20% of the company’s stock.

Barrick Gold Trading Up 0.6 %

Shares of GOLD traded up $0.09 during trading hours on Monday, hitting $15.80. The stock had a trading volume of 3,661,078 shares, compared to its average volume of 16,085,660. Barrick Gold Corp has a 12-month low of $13.82 and a 12-month high of $20.75. The firm has a market cap of $27.74 billion, a P/E ratio of 523.67, a P/E/G ratio of 1.51 and a beta of 0.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.28 and a current ratio of 3.07. The company’s fifty day simple moving average is $15.71 and its 200 day simple moving average is $15.53.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings data on Thursday, November 2nd. The gold and copper producer reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.93 billion. Barrick Gold had a return on equity of 3.88% and a net margin of 0.52%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period last year, the business posted $0.13 EPS. Equities research analysts forecast that Barrick Gold Corp will post 0.82 EPS for the current fiscal year.

Barrick Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend is Wednesday, November 29th. Barrick Gold’s payout ratio is currently 1,333.33%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GOLD. BMO Capital Markets reduced their price target on shares of Barrick Gold from $31.00 to $30.00 and set an “outperform” rating on the stock in a report on Friday, October 13th. StockNews.com raised Barrick Gold from a “hold” rating to a “buy” rating in a research note on Friday. Cormark raised Barrick Gold from a “market perform” rating to a “buy” rating in a research report on Wednesday, August 9th. Scotiabank reduced their price objective on Barrick Gold from $26.00 to $25.00 and set an “outperform” rating on the stock in a research report on Friday, November 3rd. Finally, Veritas Investment Research cut Barrick Gold from a “buy” rating to a “reduce” rating in a research report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $22.31.

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.