Axxcess Wealth Management LLC Has $2.64 Million Stake in Barrick Gold Corp (NYSE:GOLD)

Axxcess Wealth Management LLC lowered its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 1.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 132,650 shares of the gold and copper producer’s stock after selling 2,248 shares during the period. Axxcess Wealth Management LLC’s holdings in Barrick Gold were worth $2,638,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in GOLD. Mesirow Financial Investment Management Inc. boosted its holdings in Barrick Gold by 5.7% in the third quarter. Mesirow Financial Investment Management Inc. now owns 29,475 shares of the gold and copper producer’s stock worth $586,000 after purchasing an additional 1,596 shares in the last quarter. Oxbow Advisors LLC increased its stake in shares of Barrick Gold by 3.7% in the third quarter. Oxbow Advisors LLC now owns 64,847 shares of the gold and copper producer’s stock worth $1,290,000 after purchasing an additional 2,308 shares during the period. Confluence Investment Management LLC grew its holdings in Barrick Gold by 6.2% in the 3rd quarter. Confluence Investment Management LLC now owns 28,777 shares of the gold and copper producer’s stock valued at $572,000 after buying an additional 1,685 shares during the last quarter. Hara Capital LLC bought a new stake in shares of Barrick Gold in the third quarter valued at approximately $1,690,000. Finally, Principal Financial Group Inc. raised its position in Barrick Gold by 19.9% in the third quarter. Principal Financial Group Inc. now owns 483,613 shares of the gold and copper producer’s stock worth $9,630,000 after purchasing an additional 80,366 shares in the last quarter. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Barrick Gold Price Performance

Barrick Gold stock opened at $18.40 on Monday. The company has a quick ratio of 2.31, a current ratio of 3.01 and a debt-to-equity ratio of 0.15. Barrick Gold Corp has a 12-month low of $13.76 and a 12-month high of $21.35. The stock has a market cap of $32.16 billion, a price-to-earnings ratio of 21.40, a P/E/G ratio of 0.43 and a beta of 0.56. The business’s 50-day simple moving average is $19.95 and its 200 day simple moving average is $18.47.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the previous year, the firm posted $0.19 earnings per share. Barrick Gold’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, research analysts anticipate that Barrick Gold Corp will post 1.29 earnings per share for the current year.

Barrick Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Friday, November 29th. Barrick Gold’s payout ratio is 46.51%.

Analyst Ratings Changes

GOLD has been the subject of several analyst reports. Royal Bank of Canada raised their target price on Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Thursday, August 29th. Raymond James reduced their price target on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a research report on Thursday, September 26th. Scotiabank dropped their price objective on shares of Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating for the company in a report on Friday. Finally, TD Securities reduced their target price on Barrick Gold from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Friday. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.90.

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.