Crowley Wealth Management Inc. Purchases Shares of 1,650 Barrick Gold Corp (NYSE:GOLD)

Crowley Wealth Management Inc. purchased a new stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 1,650 shares of the gold and copper producer’s stock, valued at approximately $26,000.

Other large investors have also modified their holdings of the company. First Horizon Advisors Inc. boosted its stake in shares of Barrick Gold by 619.7% during the 4th quarter. First Horizon Advisors Inc. now owns 3,073 shares of the gold and copper producer’s stock worth $48,000 after acquiring an additional 2,646 shares in the last quarter. BNP Paribas boosted its stake in shares of Barrick Gold by 221.7% during 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 in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Barrick Gold by 196.9% during the 4th quarter. Exchange Traded Concepts LLC now owns 4,178 shares of the gold and copper producer’s stock worth $65,000 after acquiring an additional 2,771 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new stake in shares of Barrick Gold during the 4th quarter worth $65,000. Finally, Avior Wealth Management LLC boosted its stake in shares of Barrick Gold by 24.1% during the 3rd quarter. Avior Wealth Management LLC now owns 3,399 shares of the gold and copper producer’s stock worth $68,000 after acquiring an additional 659 shares in the last quarter. 62.85% of the stock is owned by institutional investors.

Barrick Gold Price Performance

Shares of NYSE:GOLD opened at $18.86 on Monday. The company has a current ratio of 2.89, a quick ratio of 2.15 and a debt-to-equity ratio of 0.14. Barrick Gold Corp has a 1 year low of $0.25 and a 1 year high of $21.35. The business has a fifty day simple moving average of $17.50 and a 200 day simple moving average of $18.03. The firm has a market cap of $32.54 billion, a price-to-earnings ratio of 15.33, a P/E/G ratio of 0.44 and a beta of 0.58.

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, hitting the consensus estimate of $0.46. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. As a group, sell-side analysts predict that Barrick Gold Corp will post 1.47 earnings per share for the current fiscal year.

Barrick Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Friday, February 28th. Barrick Gold’s payout ratio is 32.52%.

Barrick Gold declared that its board has approved a stock buyback program on Wednesday, February 12th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the gold and copper producer to repurchase up to 3.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

GOLD has been the subject of several research reports. Raymond James reduced their price objective on Barrick Gold from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. CIBC lowered Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday, November 25th. Berenberg Bank increased their target price on Barrick Gold from $37.00 to $38.00 in a report on Tuesday, November 26th. Bank of America lowered Barrick Gold from a “buy” rating to a “neutral” rating and reduced their target price for the company from $21.00 to $18.00 in a report on Monday, January 27th. Finally, TD Securities reduced their target price on Barrick Gold from $24.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.75.

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.