Pekin Hardy Strauss Inc. Has $1.84 Million Stake in Barrick Gold Corp (NYSE:GOLD)

Pekin Hardy Strauss Inc. lifted its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 23.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 101,413 shares of the gold and copper producer’s stock after buying an additional 19,163 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Barrick Gold were worth $1,835,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Clarius Group LLC bought a new stake in Barrick Gold during the third quarter worth about $262,000. Golden State Equity Partners bought a new position in Barrick Gold in the third quarter valued at approximately $146,000. Compagnie Lombard Odier SCmA acquired a new position in Barrick Gold during the third quarter valued at approximately $435,000. Maryland State Retirement & Pension System lifted its stake in Barrick Gold by 2.1% during the third quarter. Maryland State Retirement & Pension System now owns 325,533 shares of the gold and copper producer’s stock worth $4,731,000 after purchasing an additional 6,685 shares during the last quarter. Finally, Stratos Wealth Partners LTD. boosted its holdings in shares of Barrick Gold by 5.3% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 13,714 shares of the gold and copper producer’s stock valued at $200,000 after purchasing an additional 689 shares in the last quarter. Institutional investors own 62.85% of the company’s stock.

Wall Street Analysts Forecast Growth

GOLD has been the topic of several research analyst reports. Raymond James reduced their price objective on Barrick Gold from $24.00 to $23.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. National Bank Financial restated a “sector perform overweight” rating on shares of Barrick Gold in a research report on Monday, April 8th. TD Securities dropped their price target on Barrick Gold from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Argus reaffirmed a “hold” rating on shares of Barrick Gold in a report on Monday, February 26th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $18.00 target price on shares of Barrick Gold in a research report on Monday, March 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Barrick Gold currently has an average rating of “Moderate Buy” and a consensus price target of $20.06.

Barrick Gold Stock Down 3.9 %

NYSE:GOLD traded down $0.68 during mid-day trading on Tuesday, hitting $16.64. 30,767,992 shares of the company’s stock were exchanged, compared to its average volume of 23,116,355. The business has a fifty day moving average price of $16.19 and a 200 day moving average price of $16.34. The company has a market cap of $29.21 billion, a PE ratio of 23.35, a P/E/G ratio of 1.50 and a beta of 0.58. Barrick Gold Corp has a one year low of $13.76 and a one year high of $20.75. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.16 and a quick ratio of 2.40.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings results on Wednesday, February 14th. The gold and copper producer reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.06. The business had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Barrick Gold had a return on equity of 4.64% and a net margin of 11.16%. During the same period last year, the firm earned $0.13 earnings per share. Equities analysts predict that Barrick Gold Corp will post 0.95 EPS for the current year.

Barrick Gold Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a $0.074 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.30 dividend on an annualized basis and a yield of 1.78%. Barrick Gold’s dividend payout ratio is presently 55.56%.

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.