Kestra Private Wealth Services LLC Boosts Stake in Barrick Gold Corp (NYSE:GOLD)

Kestra Private Wealth Services LLC grew its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 7.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,241 shares of the gold and copper producer’s stock after purchasing an additional 1,833 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Barrick Gold were worth $475,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in GOLD. Bruce G. Allen Investments LLC acquired a new position in Barrick Gold in the fourth quarter valued at about $35,000. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Barrick Gold by 41.1% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 3,919 shares of the gold and copper producer’s stock valued at $57,000 after purchasing an additional 1,142 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Barrick Gold during the 4th quarter worth approximately $61,000. Headlands Technologies LLC acquired a new stake in Barrick Gold during the 3rd quarter worth approximately $75,000. Finally, Fifth Third Bancorp boosted its position in Barrick Gold by 13.1% in the 3rd quarter. Fifth Third Bancorp now owns 6,067 shares of the gold and copper producer’s stock valued at $88,000 after buying an additional 702 shares during the period. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GOLD. Jefferies Financial Group started coverage on Barrick Gold in a research report on Thursday, February 29th. They set a “buy” rating and a $21.00 price objective on the stock. StockNews.com upgraded Barrick Gold from a “hold” rating to a “buy” rating in a research note on Wednesday, February 21st. Scotiabank cut their target price on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, February 20th. Argus reaffirmed a “hold” rating on shares of Barrick Gold in a report on Monday, February 26th. Finally, TD Securities lowered their price target 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 investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $21.60.

Barrick Gold Stock Up 1.3 %

GOLD stock opened at $16.68 on Tuesday. The stock has a market capitalization of $29.28 billion, a PE ratio of 20.34, a price-to-earnings-growth ratio of 1.44 and a beta of 0.59. The company has a fifty day moving average of $16.38 and a 200-day moving average of $16.35. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.49 and a current ratio of 3.32. Barrick Gold Corp has a one year low of $13.76 and a one year high of $20.26.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. The business had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.74 billion. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.14 EPS. As a group, analysts expect that Barrick Gold Corp will post 0.95 EPS for the current year.

Barrick Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, May 31st. This represents a $0.40 dividend on an annualized basis and a yield of 2.40%. This is an increase from Barrick Gold’s previous quarterly dividend of $0.07. 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.