Cetera Advisor Networks LLC Reduces Holdings in Barrick Gold Corp (NYSE:GOLD)

Cetera Advisor Networks LLC trimmed its position in shares of Barrick Gold Corp (NYSE:GOLDGet Rating) (TSE:ABX) by 16.8% in the 2nd quarter, Holdings Channel reports. The firm owned 172,146 shares of the gold and copper producer’s stock after selling 34,749 shares during the period. Cetera Advisor Networks LLC’s holdings in Barrick Gold were worth $3,045,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clearstead Advisors LLC lifted its stake in shares of Barrick Gold by 20.5% in the 1st quarter. Clearstead Advisors LLC now owns 3,204 shares of the gold and copper producer’s stock valued at $78,000 after purchasing an additional 545 shares during the last quarter. RMB Capital Management LLC lifted its stake in shares of Barrick Gold by 0.8% in the 1st quarter. RMB Capital Management LLC now owns 73,357 shares of the gold and copper producer’s stock valued at $1,799,000 after purchasing an additional 613 shares during the last quarter. MAI Capital Management lifted its stake in shares of Barrick Gold by 6.1% in the 2nd quarter. MAI Capital Management now owns 11,327 shares of the gold and copper producer’s stock valued at $200,000 after purchasing an additional 649 shares during the last quarter. Optiver Holding B.V. lifted its stake in Barrick Gold by 65.9% during the 2nd quarter. Optiver Holding B.V. now owns 1,669 shares of the gold and copper producer’s stock worth $30,000 after acquiring an additional 663 shares in the last quarter. Finally, Rational Advisors LLC lifted its stake in Barrick Gold by 56.0% during the 1st quarter. Rational Advisors LLC now owns 1,916 shares of the gold and copper producer’s stock worth $47,000 after acquiring an additional 688 shares in the last quarter. Institutional investors and hedge funds own 58.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Raymond James decreased their target price on Barrick Gold from $24.50 to $23.00 and set an “outperform” rating on the stock in a research note on Friday, November 4th. The Goldman Sachs Group assumed coverage on Barrick Gold in a research note on Monday, September 12th. They set a “neutral” rating and a $18.00 target price on the stock. Stifel Nicolaus decreased their target price on Barrick Gold from C$35.25 to C$33.00 in a research note on Wednesday, October 19th. BMO Capital Markets upped their price target on Barrick Gold from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Tuesday, August 9th. Finally, TheStreet downgraded Barrick Gold from a “b-” rating to a “c+” rating in a report on Friday, July 29th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $23.59.

Barrick Gold Trading Up 1.4 %

GOLD opened at $16.23 on Friday. Barrick Gold Corp has a one year low of $13.01 and a one year high of $26.07. The company has a market cap of $28.59 billion, a P/E ratio of 15.17, a PEG ratio of 10.15 and a beta of 0.27. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 3.76. The business’s 50-day simple moving average is $15.21 and its 200-day simple moving average is $16.85.

Barrick Gold Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.71%. Barrick Gold’s payout ratio is currently 37.38%.

Barrick Gold Company Profile

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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.

See Also

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Institutional Ownership by Quarter for Barrick Gold (NYSE:GOLD)

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