Realta Investment Advisors Sells 4,842 Shares of Barrick Gold Corp (NYSE:GOLD)

Realta Investment Advisors lessened its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 13.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,700 shares of the gold and copper producer’s stock after selling 4,842 shares during the period. Realta Investment Advisors’ holdings in Barrick Gold were worth $613,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in GOLD. Clean Yield Group purchased a new position in shares of Barrick Gold during the first quarter valued at approximately $25,000. Exchange Traded Concepts LLC lifted its stake in Barrick Gold by 198.1% during 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 acquiring an additional 935 shares in the last quarter. Crewe Advisors LLC boosted its holdings in Barrick Gold by 628.8% during the 2nd quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock worth $30,000 after acquiring an additional 1,572 shares during the last quarter. Jackson Grant Investment Advisers Inc. bought a new stake in shares of Barrick Gold in the 2nd quarter worth $32,000. Finally, Eastern Bank bought a new position in shares of Barrick Gold during the third quarter valued at about $32,000. Institutional investors own 62.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GOLD. UBS Group downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $23.00 to $22.00 in a research report on Wednesday. Jefferies Financial Group increased their price target on Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, September 13th. CIBC boosted their price objective on Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Thursday, August 29th. Finally, Raymond James cut their price target on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a report on Thursday, September 26th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.50.

Barrick Gold Stock Performance

Shares of Barrick Gold stock traded down $0.27 during trading hours on Friday, reaching $19.05. The company had a trading volume of 18,207,038 shares, compared to its average volume of 21,171,258. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.01 and a quick ratio of 2.31. Barrick Gold Corp has a one year low of $13.76 and a one year high of $21.35. The firm has a market cap of $33.30 billion, a PE ratio of 22.15, a price-to-earnings-growth ratio of 0.47 and a beta of 0.55. The business has a fifty day simple moving average of $20.11 and a 200 day simple moving average of $18.39.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.05. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The firm had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the prior year, the business posted $0.19 earnings per share. The company’s revenue was up 11.6% on a year-over-year basis. On average, analysts anticipate that Barrick Gold Corp will post 1.29 earnings per share for the current fiscal year.

Barrick Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.10%. The ex-dividend date was Friday, August 30th. Barrick Gold’s payout ratio is 46.51%.

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.