D.B. Root & Company LLC Sells 39,355 Shares of Barrick Gold Corp (NYSE:GOLD)

D.B. Root & Company LLC lessened its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 62.9% in the second quarter, HoldingsChannel.com reports. The firm owned 23,175 shares of the gold and copper producer’s stock after selling 39,355 shares during the period. D.B. Root & Company LLC’s holdings in Barrick Gold were worth $387,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Granite Bay Wealth Management LLC bought a new stake in Barrick Gold during the 2nd quarter worth approximately $348,000. Gateway Investment Advisers LLC grew its holdings in Barrick Gold by 12.3% during the second quarter. Gateway Investment Advisers LLC now owns 283,754 shares of the gold and copper producer’s stock worth $4,733,000 after buying an additional 31,082 shares in the last quarter. A. D. Beadell Investment Counsel Inc. raised its position in Barrick Gold by 1.9% in the 2nd quarter. A. D. Beadell Investment Counsel Inc. now owns 78,650 shares of the gold and copper producer’s stock valued at $1,311,000 after buying an additional 1,500 shares during the last quarter. U.S. Capital Wealth Advisors LLC lifted its stake in Barrick Gold by 2.4% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 317,033 shares of the gold and copper producer’s stock valued at $5,288,000 after acquiring an additional 7,307 shares in the last quarter. Finally, Simplicity Wealth LLC boosted its holdings in Barrick Gold by 17.0% during the 2nd quarter. Simplicity Wealth LLC now owns 28,151 shares of the gold and copper producer’s stock worth $470,000 after acquiring an additional 4,092 shares during the last quarter. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Price Performance

Shares of NYSE GOLD opened at $19.04 on Tuesday. The company has a current ratio of 3.32, a quick ratio of 2.49 and a debt-to-equity ratio of 0.15. The stock has a fifty day simple moving average of $17.37 and a two-hundred day simple moving average of $16.62. Barrick Gold Corp has a 1-year low of $13.76 and a 1-year high of $19.45. The firm has a market cap of $33.37 billion, a price-to-earnings ratio of 23.22, a price-to-earnings-growth ratio of 0.48 and a beta of 0.51.

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 the consensus estimate of $0.27 by $0.05. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the company earned $0.19 EPS. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. Analysts anticipate that Barrick Gold Corp will post 1.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. BMO Capital Markets dropped their price target on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. Jefferies Financial Group lifted their target price on shares of Barrick Gold from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Finally, CIBC boosted their target price on Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Barrick Gold presently has an average rating of “Moderate Buy” and an average price target 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.