Janney Montgomery Scott LLC Has $3.68 Million Position in Barrick Gold Corp (NYSE:GOLD)

Janney Montgomery Scott LLC lifted its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 42.4% during the 3rd quarter, Holdings Channel reports. The firm owned 184,897 shares of the gold and copper producer’s stock after purchasing an additional 55,051 shares during the period. Janney Montgomery Scott LLC’s holdings in Barrick Gold were worth $3,678,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Clean Yield Group bought a new position in Barrick Gold in the 1st quarter valued at approximately $25,000. Exchange Traded Concepts LLC raised its holdings in shares of Barrick Gold by 198.1% during the third quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock valued at $28,000 after purchasing an additional 935 shares during the period. Crewe Advisors LLC boosted its holdings in Barrick Gold by 628.8% in the second quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock worth $30,000 after acquiring an additional 1,572 shares in the last quarter. Jackson Grant Investment Advisers Inc. acquired a new position in shares of Barrick Gold during the second quarter valued at about $32,000. Finally, Eastern Bank bought a new stake in Barrick Gold during the 3rd quarter worth approximately $32,000. 62.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on GOLD. Jefferies Financial Group lifted their target price on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Scotiabank cut their price target on shares of Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating for the company in a report on Friday. Argus upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Thursday, August 29th. TD Securities reduced their price objective on Barrick Gold from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday. Finally, UBS Group lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and reduced their target price for the company from $23.00 to $22.00 in a 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 presently has a consensus rating of “Moderate Buy” and an average target price of $23.90.

Barrick Gold Stock Down 0.4 %

Shares of NYSE:GOLD opened at $18.40 on Monday. The business has a 50 day simple moving average of $19.95 and a two-hundred day simple moving average of $18.47. Barrick Gold Corp has a 1 year low of $13.76 and a 1 year high of $21.35. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.01 and a quick ratio of 2.31. The firm has a market capitalization of $32.16 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 0.43 and a beta of 0.56.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its 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. The business had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.19 EPS. On average, equities analysts predict that Barrick Gold Corp will post 1.29 EPS for the current year.

Barrick Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 2.17%. Barrick Gold’s dividend payout ratio is presently 46.51%.

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.