Barrick Gold Corp (NYSE:GOLD) Shares Sold by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC lowered its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 7.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,823 shares of the gold and copper producer’s stock after selling 890 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Barrick Gold were worth $215,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Norden Group LLC raised its position in Barrick Gold by 2,383.6% during the first quarter. Norden Group LLC now owns 415,536 shares of the gold and copper producer’s stock worth $6,915,000 after acquiring an additional 398,805 shares during the period. Kovack Advisors Inc. lifted its stake in Barrick Gold by 16.9% in the 1st quarter. Kovack Advisors Inc. now owns 30,122 shares of the gold and copper producer’s stock valued at $501,000 after buying an additional 4,345 shares in the last quarter. Maryland State Retirement & Pension System lifted its stake in Barrick Gold by 13.6% in the 1st quarter. Maryland State Retirement & Pension System now owns 312,892 shares of the gold and copper producer’s stock valued at $5,179,000 after buying an additional 37,550 shares in the last quarter. J.W. Cole Advisors Inc. boosted its holdings in Barrick Gold by 3.0% in the 1st quarter. J.W. Cole Advisors Inc. now owns 35,428 shares of the gold and copper producer’s stock worth $590,000 after buying an additional 1,047 shares during the last quarter. Finally, Private Advisor Group LLC increased its stake in Barrick Gold by 4.8% during the 1st quarter. Private Advisor Group LLC now owns 235,068 shares of the gold and copper producer’s stock worth $3,912,000 after buying an additional 10,775 shares in the last quarter. 62.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GOLD has been the topic of a number of research analyst reports. UBS Group lowered Barrick Gold from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $23.00 to $22.00 in a research note on Wednesday. Jefferies Financial Group upped their target price on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Royal Bank of Canada increased their target price on shares of Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Raymond James lowered their price target on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a research report on Thursday, September 26th. Finally, Scotiabank increased their price objective on shares of Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $23.50.

Barrick Gold Trading Down 1.1 %

Shares of Barrick Gold stock opened at $20.05 on Thursday. Barrick Gold Corp has a fifty-two week low of $13.76 and a fifty-two week high of $21.35. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.31 and a current ratio of 3.01. The firm has a market capitalization of $35.14 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 0.47 and a beta of 0.55. The stock has a 50 day moving average of $20.16 and a 200 day moving average of $18.38.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The firm had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period last year, the company earned $0.19 EPS. The company’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, research analysts predict that Barrick Gold Corp will post 1.27 earnings per share for the current year.

Barrick Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a dividend of $0.10 per share. The ex-dividend date was Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.00%. Barrick Gold’s payout ratio is currently 48.78%.

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.