Kestra Private Wealth Services LLC Sells 23,948 Shares of Barrick Gold Corp (NYSE:GOLD)

Kestra Private Wealth Services LLC cut its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 46.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 28,014 shares of the gold and copper producer’s stock after selling 23,948 shares during the period. Kestra Private Wealth Services LLC’s holdings in Barrick Gold were worth $434,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its position in shares of Barrick Gold by 19.9% during the third quarter. Principal Financial Group Inc. now owns 483,613 shares of the gold and copper producer’s stock worth $9,630,000 after purchasing an additional 80,366 shares in the last quarter. Mizuho Markets Americas LLC boosted its position in shares of Barrick Gold by 21.7% during the third quarter. Mizuho Markets Americas LLC now owns 2,317,580 shares of the gold and copper producer’s stock worth $46,097,000 after purchasing an additional 413,012 shares in the last quarter. Entropy Technologies LP bought a new position in shares of Barrick Gold during the third quarter worth $3,711,000. Aigen Investment Management LP boosted its position in shares of Barrick Gold by 330.5% during the third quarter. Aigen Investment Management LP now owns 99,240 shares of the gold and copper producer’s stock worth $1,974,000 after purchasing an additional 76,186 shares in the last quarter. Finally, Crocodile Capital Partners GmbH boosted its position in shares of Barrick Gold by 97.3% during the fourth quarter. Crocodile Capital Partners GmbH now owns 1,460,000 shares of the gold and copper producer’s stock worth $22,630,000 after purchasing an additional 720,000 shares in the last quarter. 62.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. TD Securities reduced their price target on shares of Barrick Gold from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday. Berenberg Bank raised their price objective on shares of Barrick Gold from $37.00 to $38.00 in a report on Tuesday, November 26th. Raymond James dropped their price objective on shares of Barrick Gold from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Bank of America lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $21.00 to $18.00 in a report on Monday, January 27th. Finally, CIBC lowered shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday, November 25th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.67.

Barrick Gold Stock Down 2.6 %

Shares of GOLD stock opened at $17.96 on Monday. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14. Barrick Gold Corp has a 1 year low of $14.25 and a 1 year high of $21.35. The firm’s fifty day moving average price is $16.25 and its two-hundred day moving average price is $18.17. The firm has a market capitalization of $31.01 billion, a P/E ratio of 19.31, a PEG ratio of 0.39 and a beta of 0.55.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. Barrick Gold had a net margin of 13.19% and a return on equity of 5.82%. On average, equities analysts predict that Barrick Gold Corp will post 1.23 EPS for the current fiscal year.

Barrick Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.40 annualized dividend and a dividend yield of 2.23%. Barrick Gold’s dividend payout ratio is presently 43.01%.

Barrick Gold declared that its board has authorized a stock repurchase program on Wednesday, February 12th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the gold and copper producer to purchase up to 3.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.