Kovack Advisors Inc. Decreases Stock Position in Barrick Gold Corp (NYSE:GOLD)

Kovack Advisors Inc. lessened its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 14.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Exchange Traded Concepts LLC grew its stake in Barrick Gold by 198.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock valued at $28,000 after buying an additional 935 shares in the last quarter. Clean Yield Group purchased a new position in shares of Barrick Gold in the first quarter valued at $25,000. Eastern Bank bought a new stake in shares of Barrick Gold during the 3rd quarter valued at $32,000. Crewe Advisors LLC lifted its holdings in Barrick Gold by 628.8% during the 2nd quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock worth $30,000 after purchasing an additional 1,572 shares in the last quarter. Finally, JFS Wealth Advisors LLC boosted its stake in Barrick Gold by 451.7% in the 3rd quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer’s stock worth $38,000 after purchasing an additional 1,563 shares during the period. Institutional investors own 62.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on GOLD shares. Jefferies Financial Group increased their price target on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, September 13th. TD Securities cut their price target on shares of Barrick Gold from $27.00 to $26.00 and set a “buy” rating for the company in a report on Friday, November 8th. Royal Bank of Canada upped their price target on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. 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 note on Thursday, August 29th. Finally, UBS Group cut Barrick Gold from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $23.00 to $22.00 in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.90.

Barrick Gold Stock Performance

Shares of NYSE GOLD opened at $16.85 on Friday. The stock’s 50-day moving average is $19.79 and its 200 day moving average is $18.48. The stock has a market cap of $29.45 billion, a price-to-earnings ratio of 18.12, a P/E/G ratio of 0.40 and a beta of 0.56. Barrick Gold Corp has a 1-year low of $13.76 and a 1-year high of $21.35. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings data 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 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 EPS. The business’s quarterly revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts anticipate that Barrick Gold Corp will post 1.29 EPS for the current fiscal year.

Barrick Gold Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Friday, November 29th. This represents a $0.40 annualized dividend and a yield of 2.37%. Barrick Gold’s payout ratio is 43.01%.

About Barrick Gold

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.