Regal Investment Advisors LLC Has $3.57 Million Stock Holdings in Barrick Gold Corp (NYSE:GOLD)

Regal Investment Advisors LLC lowered its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 10.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 230,266 shares of the gold and copper producer’s stock after selling 25,659 shares during the period. Regal Investment Advisors LLC’s holdings in Barrick Gold were worth $3,569,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in GOLD. Van ECK Associates Corp grew its stake in shares of Barrick Gold by 2.1% in the fourth quarter. Van ECK Associates Corp now owns 76,299,834 shares of the gold and copper producer’s stock worth $1,182,641,000 after acquiring an additional 1,563,361 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Barrick Gold by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 68,358,533 shares of the gold and copper producer’s stock valued at $1,060,036,000 after purchasing an additional 1,195,585 shares during the period. Wellington Management Group LLP grew its position in Barrick Gold by 17.5% in the 4th quarter. Wellington Management Group LLP now owns 64,310,800 shares of the gold and copper producer’s stock worth $996,802,000 after purchasing an additional 9,598,292 shares during the last quarter. Amundi grew its position in Barrick Gold by 1.7% in the 4th quarter. Amundi now owns 14,120,278 shares of the gold and copper producer’s stock worth $223,665,000 after purchasing an additional 236,116 shares during the last quarter. Finally, Causeway Capital Management LLC acquired a new position in shares of Barrick Gold during the fourth quarter valued at about $172,225,000. 62.85% of the stock is owned by institutional investors.

Barrick Gold Stock Down 0.8 %

Shares of GOLD opened at $20.42 on Tuesday. The business’s 50 day simple moving average is $18.55 and its 200-day simple moving average is $17.90. Barrick Gold Corp has a one year low of $15.11 and a one year high of $21.35. The company has a market capitalization of $35.11 billion, a P/E ratio of 16.60, a PEG ratio of 0.44 and a beta of 0.55. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 EPS for the quarter, hitting the consensus estimate of $0.46. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. As a group, sell-side analysts predict that Barrick Gold Corp will post 1.47 EPS for the current fiscal year.

Barrick Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Friday, February 28th. Barrick Gold’s dividend payout ratio is presently 32.52%.

Barrick Gold announced that its board has approved a stock buyback plan on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the gold and copper producer to repurchase up to 3.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

GOLD has been the topic of a number of recent research reports. National Bankshares reissued an “outperform” rating on shares of Barrick Gold in a research report on Wednesday, April 2nd. TD Securities lowered their price objective on Barrick Gold from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Citigroup reduced their target price on Barrick Gold from $21.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, March 31st. National Bank Financial raised shares of Barrick Gold to a “hold” rating in a report on Friday, March 21st. Finally, Bank of America lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and decreased their target price for the company from $21.00 to $18.00 in a research report on Monday, January 27th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Barrick Gold presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.21.

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.