Advisory Services Network LLC Sells 9,399 Shares of Barrick Gold Corp (NYSE:GOLD)

Advisory Services Network LLC lowered its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 35.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,400 shares of the gold and copper producer’s stock after selling 9,399 shares during the period. Advisory Services Network LLC’s holdings in Barrick Gold were worth $270,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Crowley Wealth Management Inc. bought a new stake in Barrick Gold during the fourth quarter valued at about $26,000. First Horizon Advisors Inc. lifted its holdings in Barrick Gold by 619.7% during the fourth quarter. First Horizon Advisors Inc. now owns 3,073 shares of the gold and copper producer’s stock valued at $48,000 after purchasing an additional 2,646 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Barrick Gold by 196.9% in the fourth quarter. Exchange Traded Concepts LLC now owns 4,178 shares of the gold and copper producer’s stock worth $65,000 after purchasing an additional 2,771 shares during the period. Newbridge Financial Services Group Inc. bought a new stake in shares of Barrick Gold during the 4th quarter valued at $65,000. Finally, Principal Securities Inc. boosted its holdings in Barrick Gold by 119.4% in the 4th quarter. Principal Securities Inc. now owns 4,848 shares of the gold and copper producer’s stock worth $75,000 after buying an additional 2,638 shares during the period. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Barrick Gold Stock Down 2.3 %

Shares of Barrick Gold stock opened at $20.19 on Friday. Barrick Gold Corp has a one year low of $15.11 and a one year high of $21.35. The company has a market cap of $34.71 billion, a P/E ratio of 16.41, a PEG ratio of 0.44 and a beta of 0.55. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89. The firm has a fifty day moving average of $18.80 and a two-hundred day moving average of $17.94.

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, hitting analysts’ consensus estimates of $0.46. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. On average, analysts forecast that Barrick Gold Corp will post 1.47 earnings per share for the current year.

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

Barrick Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were given a $0.10 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.40 annualized dividend and a dividend yield of 1.98%. Barrick Gold’s dividend payout ratio is presently 32.52%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. StockNews.com upgraded Barrick Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 5th. Bank of America lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $21.00 to $18.00 in a research report on Monday, January 27th. National Bankshares reiterated an “outperform” rating on shares of Barrick Gold in a report on Wednesday, April 2nd. BMO Capital Markets started coverage on Barrick Gold in a report on Wednesday. They issued a “market perform” rating on the stock. Finally, Raymond James increased their price target on Barrick Gold from $23.00 to $23.50 and gave the company an “outperform” rating in a research note on Monday, March 31st. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Barrick Gold has an average rating of “Moderate Buy” and a consensus price target of $24.05.

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.