Barrick Gold Corp (NYSE:GOLD) Shares Sold by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC trimmed its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 5.5% in the fourth quarter, HoldingsChannel reports. The firm owned 16,020 shares of the gold and copper producer’s stock after selling 926 shares during the period. Concurrent Investment Advisors LLC’s holdings in Barrick Gold were worth $248,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JFS Wealth Advisors LLC increased its stake in Barrick Gold by 451.7% during the 3rd quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer’s stock valued at $38,000 after buying an additional 1,563 shares during the period. BNP Paribas boosted its holdings in shares of Barrick Gold by 221.7% in the third quarter. BNP Paribas now owns 3,066 shares of the gold and copper producer’s stock valued at $62,000 after acquiring an additional 2,113 shares in the last quarter. Avior Wealth Management LLC increased its stake in shares of Barrick Gold by 24.1% during the third quarter. Avior Wealth Management LLC now owns 3,399 shares of the gold and copper producer’s stock valued at $68,000 after acquiring an additional 659 shares during the period. Newbridge Financial Services Group Inc. bought a new stake in Barrick Gold during the fourth quarter worth approximately $65,000. Finally, Exchange Traded Concepts LLC raised its holdings in Barrick Gold by 196.9% during the fourth quarter. Exchange Traded Concepts LLC now owns 4,178 shares of the gold and copper producer’s stock worth $65,000 after purchasing an additional 2,771 shares in the last quarter. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Stock Down 1.0 %

GOLD opened at $18.09 on Wednesday. The firm has a market cap of $31.23 billion, a price-to-earnings ratio of 14.70, a PEG ratio of 0.44 and a beta of 0.55. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89. The firm’s 50-day simple moving average is $16.46 and its 200-day simple moving average is $18.21. Barrick Gold Corp has a twelve month low of $14.27 and a twelve month high of $21.35.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings data on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. Equities research analysts anticipate that Barrick Gold Corp will post 1.47 EPS for the current fiscal year.

Barrick Gold announced that its board has approved a share repurchase program on Wednesday, February 12th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the gold and copper producer to reacquire up to 3.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are 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 given a $0.10 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.40 dividend on an annualized basis and a yield of 2.21%. Barrick Gold’s payout ratio is 32.52%.

Analysts Set New Price Targets

Several brokerages recently weighed in on GOLD. Bank of America cut Barrick Gold from a “buy” rating to a “neutral” rating and decreased their target price for the company from $21.00 to $18.00 in a research note on Monday, January 27th. CIBC lowered shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday, November 25th. Scotiabank boosted their target price on shares of Barrick Gold from $19.00 to $20.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 18th. Raymond James reduced their target price on shares of Barrick Gold from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Finally, Cibc World Mkts lowered shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $23.75.

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.