Kovack Advisors Inc. Sells 4,165 Shares of Barrick Gold Corp (NYSE:GOLD)

Kovack Advisors Inc. decreased its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 14.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 24,471 shares of the gold and copper producer’s stock after selling 4,165 shares during the period. Kovack Advisors Inc.’s holdings in Barrick Gold were worth $487,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Ritholtz Wealth Management lifted its holdings in Barrick Gold by 2.8% in the 3rd quarter. Ritholtz Wealth Management now owns 18,163 shares of the gold and copper producer’s stock worth $361,000 after buying an additional 502 shares during the period. Greenleaf Trust lifted its stake in Barrick Gold by 2.1% in the third quarter. Greenleaf Trust now owns 25,659 shares of the gold and copper producer’s stock worth $510,000 after acquiring an additional 540 shares during the period. Silverlake Wealth Management LLC boosted its holdings in Barrick Gold by 1.3% in the third quarter. Silverlake Wealth Management LLC now owns 49,890 shares of the gold and copper producer’s stock valued at $992,000 after acquiring an additional 628 shares in the last quarter. Whitener Capital Management Inc. increased its position in Barrick Gold by 0.9% during the 3rd quarter. Whitener Capital Management Inc. now owns 73,185 shares of the gold and copper producer’s stock valued at $1,456,000 after purchasing an additional 675 shares during the period. Finally, apricus wealth LLC raised its holdings in Barrick Gold by 0.6% in the 3rd quarter. apricus wealth LLC now owns 112,850 shares of the gold and copper producer’s stock worth $2,245,000 after purchasing an additional 710 shares in the last quarter. 62.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Raymond James cut their target price on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a research note on Thursday, September 26th. Royal Bank of Canada lifted their price objective on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Jefferies Financial Group lifted their price target on Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, September 13th. UBS Group downgraded Barrick Gold from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $23.00 to $22.00 in a report on Wednesday, October 30th. Finally, Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Thursday, August 29th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.90.

Barrick Gold Trading Up 0.4 %

Barrick Gold stock opened at $16.85 on Friday. Barrick Gold Corp has a one year low of $13.76 and a one year high of $21.35. The business’s fifty day moving average is $19.79 and its 200 day moving average is $18.48. The stock has a market capitalization of $29.45 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 0.40 and a beta of 0.56. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. Barrick Gold had a net margin of 13.19% and a return on equity of 5.82%. The firm had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same period in the previous year, the business posted $0.19 earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, sell-side analysts predict that Barrick Gold Corp will post 1.29 EPS for the current year.

Barrick Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a yield of 2.37%. Barrick Gold’s dividend payout ratio is presently 43.01%.

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.