Kovack Advisors Inc. Has $501,000 Position in Barrick Gold Corp (NYSE:GOLD)

Kovack Advisors Inc. boosted its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 16.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,122 shares of the gold and copper producer’s stock after purchasing an additional 4,345 shares during the quarter. Kovack Advisors Inc.’s holdings in Barrick Gold were worth $501,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of GOLD. Principal Securities Inc. bought a new stake in Barrick Gold in the fourth quarter valued at approximately $26,000. EverSource Wealth Advisors LLC raised its stake in Barrick Gold by 175.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock worth $32,000 after buying an additional 1,143 shares during the period. Bruce G. Allen Investments LLC bought a new position in Barrick Gold during the fourth quarter worth about $35,000. Mark Sheptoff Financial Planning LLC acquired a new position in Barrick Gold in the fourth quarter valued at about $45,000. Finally, Optiver Holding B.V. bought a new stake in shares of Barrick Gold in the fourth quarter worth about $46,000. 62.85% of the stock is owned by institutional investors.

Barrick Gold Stock Up 4.1 %

GOLD traded up $0.68 on Thursday, hitting $17.30. 18,999,838 shares of the company were exchanged, compared to its average volume of 19,117,142. The stock’s fifty day moving average is $16.84 and its 200-day moving average is $16.46. Barrick Gold Corp has a 12 month low of $13.76 and a 12 month high of $18.95. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.49 and a current ratio of 3.32. The company has a market cap of $30.37 billion, a PE ratio of 21.11, a PEG ratio of 0.47 and a beta of 0.51.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings data on Wednesday, May 1st. The gold and copper producer reported $0.19 EPS for the quarter, beating the consensus estimate of $0.15 by $0.04. The company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.74 billion. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.14 EPS. Equities research analysts predict that Barrick Gold Corp will post 1.08 EPS for the current fiscal year.

Barrick Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.31%. This is a boost from Barrick Gold’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Friday, May 31st. Barrick Gold’s dividend payout ratio is presently 48.78%.

Wall Street Analysts Forecast Growth

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

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.