Bogart Wealth LLC Raises Position in Barrick Gold Corp (NYSE:GOLD)

Bogart Wealth LLC grew its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 31.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,378 shares of the gold and copper producer’s stock after purchasing an additional 2,023 shares during the period. Bogart Wealth LLC’s holdings in Barrick Gold were worth $130,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GOLD. Exchange Traded Concepts LLC lifted its holdings in shares of Barrick Gold by 198.1% during 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 purchasing an additional 935 shares during the last quarter. Eastern Bank purchased a new position in Barrick Gold in the 3rd quarter worth $32,000. JFS Wealth Advisors LLC raised 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 acquiring an additional 1,563 shares during the last quarter. AlphaMark Advisors LLC purchased a new position in Barrick Gold in the 3rd quarter worth $60,000. Finally, BNP Paribas raised its stake in Barrick Gold by 221.7% in the 3rd quarter. BNP Paribas now owns 3,066 shares of the gold and copper producer’s stock worth $62,000 after acquiring an additional 2,113 shares during the last quarter. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Barrick Gold Price Performance

NYSE:GOLD opened at $17.96 on Friday. Barrick Gold Corp has a 52 week low of $14.25 and a 52 week high of $21.35. The company has a quick ratio of 2.06, a current ratio of 2.65 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $31.01 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 0.39 and a beta of 0.55. The stock’s 50-day moving average price is $16.23 and its 200-day moving average price is $18.17.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 EPS for the quarter, meeting analysts’ consensus estimates of $0.46. Barrick Gold had a return on equity of 5.82% and a net margin of 13.19%. As a group, equities analysts expect that Barrick Gold Corp will post 1.23 EPS for the current fiscal year.

Barrick Gold announced that its board has initiated a stock buyback program on Wednesday, February 12th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the gold and copper producer to repurchase up to 3.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Barrick Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.23%. The ex-dividend date is Friday, February 28th. Barrick Gold’s payout ratio is 43.01%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GOLD. Bank of America lowered Barrick Gold from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $21.00 to $18.00 in a research note on Monday, January 27th. CIBC lowered Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. Cibc World Mkts lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Citigroup reduced their price objective on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Finally, Scotiabank lowered Barrick Gold from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $23.00 to $19.00 in a research note on Thursday, January 30th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Barrick Gold has a consensus rating of “Moderate Buy” and an average price target of $23.67.

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.