A. D. Beadell Investment Counsel Inc. Has $627,000 Stake in Barrick Gold Corp (NYSE:GOLD)

A. D. Beadell Investment Counsel Inc. trimmed its position in shares of Barrick Gold Corp (NYSE:GOLDGet Rating) (TSE:ABX) by 8.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,500 shares of the gold and copper producer’s stock after selling 3,200 shares during the quarter. A. D. Beadell Investment Counsel Inc.’s holdings in Barrick Gold were worth $627,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Hazlett Burt & Watson Inc. purchased a new stake in Barrick Gold in the 1st quarter valued at $26,000. Tompkins Financial Corp purchased a new stake in Barrick Gold in the 1st quarter valued at $27,000. Glassman Wealth Services raised its position in Barrick Gold by 99.3% in the 1st quarter. Glassman Wealth Services now owns 1,160 shares of the gold and copper producer’s stock valued at $28,000 after buying an additional 578 shares during the last quarter. JFS Wealth Advisors LLC grew its stake in Barrick Gold by 91.6% in the 1st quarter. JFS Wealth Advisors LLC now owns 1,226 shares of the gold and copper producer’s stock valued at $30,000 after purchasing an additional 586 shares during the period. Finally, Herold Advisors Inc. bought a new position in Barrick Gold in the 1st quarter valued at $36,000. 58.03% of the stock is owned by institutional investors and hedge funds.

Barrick Gold Price Performance

Shares of NYSE:GOLD traded down $0.78 on Friday, hitting $14.29. The company’s stock had a trading volume of 775,907 shares, compared to its average volume of 19,960,788. The company has a 50-day simple moving average of $15.67 and a 200 day simple moving average of $19.63. Barrick Gold Corp has a 1 year low of $14.53 and a 1 year high of $26.07. The company has a market capitalization of $25.30 billion, a PE ratio of 13.34, a PEG ratio of 7.41 and a beta of 0.33. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.95 and a quick ratio of 3.19.

Barrick Gold (NYSE:GOLDGet Rating) (TSE:ABX) last released its quarterly earnings results on Monday, August 8th. The gold and copper producer reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.02. Barrick Gold had a return on equity of 5.95% and a net margin of 16.87%. The firm had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter last year, the firm posted $0.29 EPS. The company’s revenue was down 1.2% compared to the same quarter last year. Sell-side analysts forecast that Barrick Gold Corp will post 1.02 EPS for the current fiscal year.

Barrick Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were issued a dividend of $0.156 per share. The ex-dividend date was Tuesday, August 30th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.37%. Barrick Gold’s dividend payout ratio is 35.40%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. National Bank Financial reduced their price objective on Barrick Gold from C$34.00 to C$26.00 in a research note on Thursday, July 21st. Stifel Nicolaus reduced their price objective on Barrick Gold from C$41.00 to C$35.25 in a research note on Wednesday, July 20th. The Goldman Sachs Group initiated coverage on Barrick Gold in a research note on Monday, September 12th. They issued a “neutral” rating and a $18.00 price objective for the company. TheStreet downgraded Barrick Gold from a “b-” rating to a “c+” rating in a research note on Friday, July 29th. Finally, Fundamental Research reiterated a “buy” rating and set a $23.42 price target (down previously from $26.11) on shares of Barrick Gold in a research note on Tuesday, August 16th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.17.

Barrick Gold Company Profile

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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.

See Also

Institutional Ownership by Quarter for Barrick Gold (NYSE:GOLD)

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