Barrick Gold Corp (NYSE:GOLD) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC lowered its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 1.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 135,865 shares of the gold and copper producer’s stock after selling 2,512 shares during the period. Axxcess Wealth Management LLC’s holdings in Barrick Gold were worth $2,261,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Principal Securities Inc. bought a new stake in shares of Barrick Gold in the 4th quarter worth about $26,000. EverSource Wealth Advisors LLC increased its holdings in Barrick Gold by 175.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock valued at $32,000 after buying an additional 1,143 shares during the last quarter. Mark Sheptoff Financial Planning LLC acquired a new stake in Barrick Gold during the fourth quarter valued at approximately $45,000. Optiver Holding B.V. bought a new position in Barrick Gold during the 4th quarter worth approximately $46,000. Finally, Bruce G. Allen Investments LLC lifted its holdings in Barrick Gold by 82.4% during the 1st quarter. Bruce G. Allen Investments LLC now owns 3,504 shares of the gold and copper producer’s stock worth $58,000 after buying an additional 1,583 shares during the last quarter. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Price Performance

NYSE GOLD traded up $0.07 on Friday, reaching $17.79. 20,354,168 shares of the stock traded hands, compared to its average volume of 21,840,373. Barrick Gold Corp has a 12 month low of $13.76 and a 12 month high of $19.45. 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’s fifty day simple moving average is $17.26 and its 200 day simple moving average is $16.51. The company has a market cap of $31.18 billion, a price-to-earnings ratio of 21.84, a P/E/G ratio of 0.49 and a beta of 0.51.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same period in the previous year, the company earned $0.14 earnings per share. Barrick Gold’s revenue was up 3.9% compared to the same quarter last year. As a group, research analysts predict that Barrick Gold Corp will post 1.16 EPS for the current fiscal year.

Barrick Gold Increases Dividend

The firm also recently announced 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. The ex-dividend date was Friday, May 31st. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.07. This represents a $0.40 annualized dividend and a yield of 2.25%. Barrick Gold’s dividend payout ratio is currently 48.78%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on GOLD shares. BMO Capital Markets dropped their price target on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. CIBC raised their price target on shares of Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. Finally, Jefferies Financial Group raised their target price on shares of Barrick Gold from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.20.

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.