Janney Montgomery Scott LLC Purchases 26,752 Shares of Barrick Gold Corp (NYSE:GOLD)

Janney Montgomery Scott LLC raised its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 24.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 135,618 shares of the gold and copper producer’s stock after acquiring an additional 26,752 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Barrick Gold were worth $2,257,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Principal Securities Inc. bought a new position in Barrick Gold in the fourth 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 valued at $32,000 after acquiring an additional 1,143 shares during the period. Bruce G. Allen Investments LLC bought a new position in Barrick Gold in the fourth quarter valued at about $35,000. Mark Sheptoff Financial Planning LLC purchased a new stake in Barrick Gold in the fourth quarter worth about $45,000. Finally, Optiver Holding B.V. purchased a new stake in Barrick Gold in the fourth quarter worth about $46,000. Institutional investors own 62.85% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on GOLD. Jefferies Financial Group upped their price target on Barrick Gold from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday. National Bank Financial restated a “sector perform overweight” rating on shares of Barrick Gold in a research report on Monday, April 8th. BMO Capital Markets reduced their price target on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. Finally, CIBC upped their price target on Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.20.

Barrick Gold Stock Performance

NYSE GOLD opened at $18.52 on Friday. The stock has a market capitalization of $32.46 billion, a PE ratio of 22.59, a P/E/G ratio of 0.51 and a beta of 0.51. The business has a 50 day simple moving average of $16.99 and a two-hundred day simple moving average of $16.46. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.32 and a quick ratio of 2.49. Barrick Gold Corp has a 1-year low of $13.76 and a 1-year high of $18.95.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.04. The business had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.14 EPS. On average, research analysts predict that Barrick Gold Corp will post 1.07 EPS for the current fiscal year.

Barrick Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.16%. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.07. The ex-dividend date was Friday, May 31st. Barrick Gold’s dividend payout ratio (DPR) is presently 48.78%.

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.