Kovack Advisors Inc. Buys 4,713 Shares of Barrick Gold Corp (NYSE:GOLD)

Kovack Advisors Inc. raised its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 22.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,777 shares of the gold and copper producer’s stock after purchasing an additional 4,713 shares during the quarter. Kovack Advisors Inc.’s holdings in Barrick Gold were worth $466,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Creative Financial Designs Inc. ADV lifted its position in shares of Barrick Gold by 7.1% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 9,100 shares of the gold and copper producer’s stock worth $165,000 after purchasing an additional 600 shares during the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of Barrick Gold by 5.3% during the third quarter. Stratos Wealth Partners LTD. now owns 13,714 shares of the gold and copper producer’s stock worth $200,000 after purchasing an additional 689 shares during the last quarter. Legacy Wealth Asset Management LLC lifted its position in shares of Barrick Gold by 2.9% during the third quarter. Legacy Wealth Asset Management LLC now owns 24,555 shares of the gold and copper producer’s stock worth $357,000 after purchasing an additional 694 shares during the last quarter. A. D. Beadell Investment Counsel Inc. lifted its position in shares of Barrick Gold by 1.2% during the fourth quarter. A. D. Beadell Investment Counsel Inc. now owns 59,825 shares of the gold and copper producer’s stock worth $1,082,000 after purchasing an additional 700 shares during the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of Barrick Gold by 13.1% during the third quarter. Fifth Third Bancorp now owns 6,067 shares of the gold and copper producer’s stock worth $88,000 after purchasing an additional 702 shares during the last quarter. 62.85% of the stock is currently owned by institutional investors.

Barrick Gold Price Performance

Shares of GOLD stock opened at $17.09 on Monday. Barrick Gold Corp has a fifty-two week low of $13.76 and a fifty-two week high of $20.75. The firm has a market capitalization of $30.00 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 1.50 and a beta of 0.58. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.40 and a current ratio of 3.16. The stock’s 50-day simple moving average is $16.14 and its 200-day simple moving average is $16.32.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its earnings results on Wednesday, February 14th. The gold and copper producer reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.06. Barrick Gold had a return on equity of 4.64% and a net margin of 11.16%. The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the previous year, the company posted $0.13 earnings per share. As a group, equities analysts forecast that Barrick Gold Corp will post 0.95 earnings per share for the current fiscal year.

Barrick Gold Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a dividend of $0.074 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date was Wednesday, February 28th. Barrick Gold’s dividend payout ratio (DPR) is 55.56%.

Wall Street Analyst Weigh In

GOLD has been the topic of several research reports. Royal Bank of Canada restated an “outperform” rating and set a $18.00 price target on shares of Barrick Gold in a research note on Monday, March 4th. StockNews.com upgraded Barrick Gold from a “hold” rating to a “buy” rating in a research note on Wednesday, February 21st. National Bank Financial restated a “sector perform overweight” rating on shares of Barrick Gold in a research note on Monday, April 8th. TD Securities cut their price target on Barrick Gold from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Finally, Jefferies Financial Group assumed coverage on Barrick Gold in a research note on Thursday, February 29th. They set a “buy” rating and a $21.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Barrick Gold presently has an average rating of “Moderate Buy” and an average price target of $20.06.

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.