SteelPeak Wealth LLC Invests $169,000 in Barrick Gold Corp (NYSE:GOLD)

SteelPeak Wealth LLC bought a new position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) during the 1st quarter, Holdings Channel reports. The fund bought 10,147 shares of the gold and copper producer’s stock, valued at approximately $169,000.

A number of other hedge funds also recently bought and sold shares of GOLD. Principal Securities Inc. bought a new stake in shares of Barrick Gold during the 4th quarter valued at about $26,000. EverSource Wealth Advisors LLC lifted its holdings in Barrick Gold by 175.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock worth $32,000 after buying an additional 1,143 shares during the period. Bruce G. Allen Investments LLC purchased a new stake in Barrick Gold in the fourth quarter worth about $35,000. Mark Sheptoff Financial Planning LLC bought a new stake in Barrick Gold during the 4th quarter valued at approximately $45,000. Finally, Optiver Holding B.V. purchased a new position in shares of Barrick Gold during the 4th quarter worth approximately $46,000. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Barrick Gold Stock Performance

Shares of GOLD stock opened at $16.56 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.49 and a current ratio of 3.32. The company has a market capitalization of $29.07 billion, a price-to-earnings ratio of 20.20, a price-to-earnings-growth ratio of 0.47 and a beta of 0.51. Barrick Gold Corp has a one year low of $13.76 and a one year high of $18.95. The company’s 50-day moving average is $16.84 and its 200 day moving average is $16.48.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. The firm had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same quarter in the prior year, the company posted $0.14 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. Sell-side analysts expect that Barrick Gold Corp will post 1.08 EPS for the current fiscal year.

Barrick Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were paid a $0.10 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.40 annualized dividend and a dividend yield of 2.42%. This is a boost from Barrick Gold’s previous quarterly dividend of $0.07. Barrick Gold’s payout ratio is currently 48.78%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. BMO Capital Markets dropped their price target on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. National Bank Financial restated a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $18.00 price target on shares of Barrick Gold in a research note on Monday, March 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock 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.