Bogart Wealth LLC Boosts Stake in Barrick Gold Corp (NYSE:GOLD)

Bogart Wealth LLC increased its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 31.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,378 shares of the gold and copper producer’s stock after buying an additional 2,023 shares during the period. Bogart Wealth LLC’s holdings in Barrick Gold were worth $130,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Exchange Traded Concepts LLC raised its position in Barrick Gold by 198.1% during the third quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock valued at $28,000 after purchasing an additional 935 shares during the period. Eastern Bank purchased a new stake in Barrick Gold during the third quarter valued at approximately $32,000. JFS Wealth Advisors LLC raised its position in Barrick Gold by 451.7% during the third quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer’s stock valued at $38,000 after purchasing an additional 1,563 shares during the period. AlphaMark Advisors LLC purchased a new stake in Barrick Gold during the third quarter valued at approximately $60,000. Finally, BNP Paribas raised its position in Barrick Gold by 221.7% during the third quarter. BNP Paribas now owns 3,066 shares of the gold and copper producer’s stock valued at $62,000 after purchasing an additional 2,113 shares during the period. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Gold Stock Down 2.6 %

Shares of NYSE GOLD opened at $17.96 on Friday. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $31.01 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 0.39 and a beta of 0.55. The stock’s fifty day simple moving average is $16.23 and its two-hundred day simple moving average is $18.17. Barrick Gold Corp has a 12-month low of $14.25 and a 12-month high of $21.35.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. Barrick Gold had a return on equity of 5.82% and a net margin of 13.19%. As a group, analysts expect that Barrick Gold Corp will post 1.23 EPS for the current fiscal year.

Barrick Gold announced that its Board of Directors has approved a stock repurchase plan on Wednesday, February 12th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the gold and copper producer to buy up to 3.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Barrick Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, February 28th. This represents a $0.40 annualized dividend and a yield of 2.23%. Barrick Gold’s dividend payout ratio (DPR) is presently 43.01%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GOLD. CIBC downgraded Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday, November 25th. Bank of America downgraded Barrick Gold from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $21.00 to $18.00 in a report on Monday, January 27th. Scotiabank downgraded Barrick Gold from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $23.00 to $19.00 in a report on Thursday, January 30th. Citigroup reduced their price target on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. Finally, Cibc World Mkts downgraded Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $23.67.

About Barrick Gold

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.