Raymond James Financial Services Advisors Inc. Trims Stock Position in Barrick Gold Corp (NYSE:GOLD)

Raymond James Financial Services Advisors Inc. cut its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 9.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 314,806 shares of the gold and copper producer’s stock after selling 33,986 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Barrick Gold were worth $5,695,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Fairfield Bush & CO. purchased a new position in Barrick Gold during the second quarter worth about $29,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Barrick Gold during the fourth quarter valued at about $35,000. Resurgent Financial Advisors LLC acquired a new stake in shares of Barrick Gold during the fourth quarter valued at about $36,000. FWL Investment Management LLC acquired a new stake in shares of Barrick Gold during the fourth quarter valued at about $36,000. Finally, Chilton Capital Management LLC acquired a new stake in shares of Barrick Gold during the first quarter valued at about $37,000. 62.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GOLD has been the subject of a number of recent analyst reports. Argus reiterated a “hold” rating on shares of Barrick Gold in a research report on Monday, February 26th. Sanford C. Bernstein cut shares of Barrick Gold from an “outperform” rating to a “market perform” rating in a research report on Monday, January 8th. Scotiabank dropped their price target on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a research report on Tuesday, February 20th. CIBC dropped their price objective on shares of Barrick Gold from $27.00 to $23.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Finally, TD Securities dropped their price objective on shares of Barrick Gold from $22.00 to $21.00 and set a “buy” rating for the company in a report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Barrick Gold presently has a consensus rating of “Moderate Buy” and an average target price of $22.05.

Barrick Gold Trading Up 1.5 %

NYSE GOLD opened at $17.43 on Thursday. The company has a quick ratio of 2.40, a current ratio of 3.16 and a debt-to-equity ratio of 0.15. Barrick Gold Corp has a 52 week low of $13.76 and a 52 week high of $20.75. The stock has a market capitalization of $30.60 billion, a PE ratio of 24.19, a price-to-earnings-growth ratio of 1.31 and a beta of 0.58. The firm has a 50 day moving average of $15.36 and a two-hundred day moving average of $16.05.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings results on Wednesday, February 14th. The gold and copper producer reported $0.27 EPS for the quarter, topping the consensus estimate of $0.21 by $0.06. The company had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Barrick Gold had a net margin of 11.16% and a return on equity of 4.64%. During the same quarter in the previous year, the business posted $0.13 EPS. As a group, research analysts expect that Barrick Gold Corp will post 0.9 EPS for the current fiscal year.

Barrick Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a dividend of $0.074 per share. The ex-dividend date was Wednesday, February 28th. This represents a $0.30 annualized dividend and a dividend yield of 1.70%. Barrick Gold’s dividend payout ratio is presently 55.56%.

Barrick Gold Company 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.