Ashton Thomas Private Wealth LLC Has $481,000 Position in Barrick Gold Corp (NYSE:GOLD)

Ashton Thomas Private Wealth LLC cut its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 2.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,194 shares of the gold and copper producer’s stock after selling 675 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Barrick Gold were worth $481,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of GOLD. Clean Yield Group purchased a new position in Barrick Gold in the first quarter valued at about $25,000. Exchange Traded Concepts LLC grew its stake in shares of Barrick Gold by 198.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock valued at $28,000 after buying an additional 935 shares in the last quarter. Crewe Advisors LLC grew its stake in shares of Barrick Gold by 628.8% in the 2nd quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock valued at $30,000 after buying an additional 1,572 shares in the last quarter. Jackson Grant Investment Advisers Inc. acquired a new position in Barrick Gold in the second quarter worth approximately $32,000. Finally, Eastern Bank bought a new position in Barrick Gold during the third quarter valued at approximately $32,000. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Gold Stock Up 0.4 %

Shares of GOLD stock opened at $16.85 on Friday. The stock has a 50 day moving average of $19.79 and a 200-day moving average of $18.48. The firm has a market cap of $29.45 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 0.40 and a beta of 0.56. The company has a quick ratio of 2.06, a current ratio of 2.65 and a debt-to-equity ratio of 0.14. Barrick Gold Corp has a 12 month low of $13.76 and a 12 month high of $21.35.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The firm had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.13 billion. Barrick Gold had a net margin of 13.19% and a return on equity of 5.82%. During the same period in the prior year, the firm earned $0.19 EPS. The business’s revenue was up 11.6% on a year-over-year basis. On average, equities analysts predict that Barrick Gold Corp will post 1.29 EPS for the current year.

Barrick Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Friday, November 29th. Barrick Gold’s payout ratio is presently 43.01%.

Wall Street Analysts Forecast Growth

Several research firms have commented on GOLD. TD Securities decreased their target price on shares of Barrick Gold from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Royal Bank of Canada upped their price objective on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Raymond James cut their target price on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a report on Thursday, September 26th. Jefferies Financial Group upped their price target on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Finally, Scotiabank cut their price objective on Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating on the stock in a research note on Friday, November 8th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $23.90.

Barrick Gold Company 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.