Kovack Advisors Inc. Purchases 4,345 Shares of Barrick Gold Corp (NYSE:GOLD)

Kovack Advisors Inc. lifted its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 16.9% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 30,122 shares of the gold and copper producer’s stock after buying an additional 4,345 shares during the quarter. Kovack Advisors Inc.’s holdings in Barrick Gold were worth $501,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of GOLD. Wellington Management Group LLP grew its position in shares of Barrick Gold by 58.4% during the fourth quarter. Wellington Management Group LLP now owns 100,680,644 shares of the gold and copper producer’s stock worth $1,821,963,000 after purchasing an additional 37,128,653 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Barrick Gold by 9.7% during the fourth quarter. Van ECK Associates Corp now owns 80,933,517 shares of the gold and copper producer’s stock valued at $1,464,070,000 after buying an additional 7,150,142 shares during the last quarter. Capital World Investors raised its position in shares of Barrick Gold by 16.4% during the fourth quarter. Capital World Investors now owns 45,479,229 shares of the gold and copper producer’s stock valued at $821,790,000 after buying an additional 6,417,244 shares during the last quarter. Ruffer LLP lifted its holdings in shares of Barrick Gold by 198.3% in the fourth quarter. Ruffer LLP now owns 9,606,218 shares of the gold and copper producer’s stock worth $173,727,000 after buying an additional 6,385,566 shares in the last quarter. Finally, TD Asset Management Inc boosted its position in shares of Barrick Gold by 28.3% during the fourth quarter. TD Asset Management Inc now owns 17,713,269 shares of the gold and copper producer’s stock worth $321,595,000 after acquiring an additional 3,910,872 shares during the last quarter. Institutional investors own 62.85% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GOLD. BMO Capital Markets reduced their target price on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. National Bank Financial restated a “sector perform overweight” rating on shares of Barrick Gold in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.60.

Barrick Gold Stock Up 4.1 %

GOLD stock traded up $0.68 during trading on Thursday, hitting $17.30. 18,999,838 shares of the company’s stock traded hands, compared to its average volume of 19,117,142. The business has a fifty day simple moving average of $16.84 and a two-hundred day simple moving average of $16.46. The company has a quick ratio of 2.49, a current ratio of 3.32 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $30.37 billion, a P/E ratio of 21.11, a PEG ratio of 0.47 and a beta of 0.51. Barrick Gold Corp has a 1 year low of $13.76 and a 1 year high of $18.95.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings data on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. The firm had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.14 EPS. Sell-side analysts anticipate that Barrick Gold Corp will post 1.08 EPS for the current year.

Barrick Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend was Friday, May 31st. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.07. Barrick Gold’s payout ratio is 48.78%.

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.