Capital Asset Advisory Services LLC Sells 3,360 Shares of Barrick Gold Corp (NYSE:GOLD)

Capital Asset Advisory Services LLC reduced its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 2.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 135,865 shares of the gold and copper producer’s stock after selling 3,360 shares during the period. Capital Asset Advisory Services LLC’s holdings in Barrick Gold were worth $2,427,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Wellington Management Group LLP raised its position in shares of Barrick Gold by 58.4% in the 4th 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 acquiring 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% in the 4th quarter. Van ECK Associates Corp now owns 80,933,517 shares of the gold and copper producer’s stock worth $1,464,070,000 after acquiring an additional 7,150,142 shares in the last quarter. Capital World Investors raised its position in shares of Barrick Gold by 16.4% in the 4th quarter. Capital World Investors now owns 45,479,229 shares of the gold and copper producer’s stock worth $821,790,000 after acquiring an additional 6,417,244 shares in the last quarter. Ruffer LLP raised its position in shares of Barrick Gold by 198.3% in the 4th quarter. Ruffer LLP now owns 9,606,218 shares of the gold and copper producer’s stock worth $173,727,000 after acquiring an additional 6,385,566 shares in the last quarter. Finally, TD Asset Management Inc increased its position in Barrick Gold by 28.3% in the 4th quarter. TD Asset Management Inc now owns 17,713,269 shares of the gold and copper producer’s stock valued at $321,595,000 after buying an additional 3,910,872 shares in the last quarter. 62.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

GOLD has been the topic of a number of research analyst reports. National Bank Financial restated a “sector perform overweight” rating on shares of Barrick Gold in a research note on Monday, April 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $18.00 price objective on shares of Barrick Gold in a research note on Monday, March 4th. BMO Capital Markets dropped their price objective on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. Finally, Jefferies Financial Group initiated coverage on Barrick Gold in a research note on Thursday, February 29th. They issued a “buy” rating and a $21.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.60.

Barrick Gold Stock Performance

GOLD stock traded down $0.17 during midday trading on Friday, reaching $16.67. 13,270,405 shares of the company’s stock traded hands, compared to its average volume of 21,921,693. The company has a 50-day moving average price of $16.85 and a two-hundred day moving average price of $16.48. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.49 and a current ratio of 3.32. Barrick Gold Corp has a 52 week low of $13.76 and a 52 week high of $18.95. The firm has a market capitalization of $29.27 billion, a PE ratio of 20.51, a price-to-earnings-growth ratio of 0.48 and a beta of 0.59.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.04. The firm had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.74 billion. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.14 earnings per share. As a group, equities analysts anticipate that Barrick Gold Corp will post 1.06 EPS for the current year.

Barrick Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.40 annualized dividend and a dividend yield of 2.40%. This is a boost from Barrick Gold’s previous quarterly dividend of $0.07. Barrick Gold’s dividend payout ratio is presently 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.