Axxcess Wealth Management LLC Sells 7,119 Shares of Barrick Gold Corp (NYSE:GOLD)

Axxcess Wealth Management LLC decreased its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 4.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 138,377 shares of the gold and copper producer’s stock after selling 7,119 shares during the period. Axxcess Wealth Management LLC’s holdings in Barrick Gold were worth $2,503,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Van ECK Associates Corp raised its stake in Barrick Gold by 9.7% in the 4th quarter. Van ECK Associates Corp now owns 80,933,517 shares of the gold and copper producer’s stock worth $1,464,070,000 after purchasing an additional 7,150,142 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Barrick Gold by 35.0% during the 3rd quarter. Wellington Management Group LLP now owns 63,551,991 shares of the gold and copper producer’s stock valued at $925,121,000 after acquiring an additional 16,485,756 shares during the period. Vanguard Group Inc. grew its holdings in shares of Barrick Gold by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 62,567,785 shares of the gold and copper producer’s stock worth $910,361,000 after purchasing an additional 956,452 shares in the last quarter. FMR LLC increased its position in shares of Barrick Gold by 12.2% in the third quarter. FMR LLC now owns 43,399,480 shares of the gold and copper producer’s stock worth $631,228,000 after purchasing an additional 4,731,559 shares during the period. Finally, Mackenzie Financial Corp lifted its position in Barrick Gold by 4.4% during the fourth quarter. Mackenzie Financial Corp now owns 18,783,046 shares of the gold and copper producer’s stock worth $339,524,000 after purchasing an additional 787,829 shares during the period. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Trading Down 0.5 %

Shares of GOLD stock traded down $0.09 during trading hours on Friday, hitting $16.46. 16,806,390 shares of the company’s stock traded hands, compared to its average volume of 29,962,524. The stock has a market cap of $28.90 billion, a PE ratio of 20.07, a price-to-earnings-growth ratio of 1.44 and a beta of 0.59. The stock’s 50 day simple moving average is $16.34 and its 200 day simple moving average is $16.35. The company has a quick ratio of 2.40, a current ratio of 3.16 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 $20.75.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.04. The business had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.74 billion. Barrick Gold had a return on equity of 4.89% and a net margin of 12.58%. Barrick Gold’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the company earned $0.14 EPS. On average, sell-side analysts anticipate that Barrick Gold Corp will post 0.95 EPS for the current year.

Barrick Gold Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date is Friday, May 31st. This is an increase from Barrick Gold’s previous quarterly dividend of $0.07. Barrick Gold’s dividend payout ratio is currently 48.78%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. CIBC dropped their target price on shares of Barrick Gold from $27.00 to $23.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Royal Bank of Canada restated an “outperform” rating and set a $18.00 target price on shares of Barrick Gold in a research note on Monday, March 4th. Sanford C. Bernstein lowered Barrick Gold from an “outperform” rating to a “market perform” rating in a research note on Monday, January 8th. Scotiabank dropped their price objective on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a research report on Tuesday, February 20th. Finally, TD Securities reduced their price objective on Barrick Gold from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Barrick Gold currently has an average rating of “Moderate Buy” and a consensus price target of $21.60.

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.