GW Henssler & Associates Ltd. Cuts Stock Holdings in Barrick Gold Corp (NYSE:GOLD)

GW Henssler & Associates Ltd. reduced its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 2.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,292,664 shares of the gold and copper producer’s stock after selling 37,452 shares during the quarter. Barrick Gold makes up 1.5% of GW Henssler & Associates Ltd.’s investment portfolio, making the stock its 25th largest holding. GW Henssler & Associates Ltd.’s holdings in Barrick Gold were worth $25,711,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the stock. Ritholtz Wealth Management raised its holdings in shares of Barrick Gold by 2.8% in the third quarter. Ritholtz Wealth Management now owns 18,163 shares of the gold and copper producer’s stock valued at $361,000 after purchasing an additional 502 shares during the last quarter. Greenleaf Trust grew its position in Barrick Gold by 2.1% in the 3rd quarter. Greenleaf Trust now owns 25,659 shares of the gold and copper producer’s stock worth $510,000 after purchasing an additional 540 shares in the last quarter. Silverlake Wealth Management LLC lifted its position in shares of Barrick Gold by 1.3% during the 3rd quarter. Silverlake Wealth Management LLC now owns 49,890 shares of the gold and copper producer’s stock worth $992,000 after buying an additional 628 shares in the last quarter. apricus wealth LLC boosted its stake in shares of 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 buying an additional 710 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Barrick Gold by 1.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 38,999 shares of the gold and copper producer’s stock valued at $650,000 after acquiring an additional 731 shares in the last quarter. 62.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GOLD has been the topic of several research analyst reports. CIBC boosted their price objective on Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. Jefferies Financial Group raised their price objective 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. UBS Group boosted their target price on shares of Barrick Gold from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Raymond James decreased their price target on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a research note on Thursday, September 26th. Finally, Scotiabank increased their price objective on Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.60.

Barrick Gold Price Performance

GOLD traded up $0.08 during trading on Tuesday, reaching $20.06. 7,481,258 shares of the company were exchanged, compared to its average volume of 21,060,338. Barrick Gold Corp has a 12-month low of $13.76 and a 12-month high of $21.35. The company’s 50-day moving average is $20.18 and its two-hundred day moving average is $18.35. The company has a quick ratio of 2.31, a current ratio of 3.01 and a debt-to-equity ratio of 0.15. The company has a market cap of $35.16 billion, a price-to-earnings ratio of 24.48, a P/E/G ratio of 0.47 and a beta of 0.55.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The company had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.13 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. Barrick Gold’s revenue was up 11.6% compared to the same quarter last year. During the same period last year, the business earned $0.19 earnings per share. Research analysts forecast that Barrick Gold Corp will post 1.27 earnings per share for the current fiscal year.

Barrick Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a $0.10 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.40 annualized dividend and a dividend yield of 1.99%. Barrick Gold’s payout ratio is currently 48.78%.

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.