FLC Capital Advisors Increases Holdings in Barrick Gold Corp (NYSE:GOLD)

FLC Capital Advisors lifted its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 9.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,860 shares of the gold and copper producer’s stock after purchasing an additional 1,300 shares during the quarter. FLC Capital Advisors’ holdings in Barrick Gold were worth $269,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. A. D. Beadell Investment Counsel Inc. raised its stake in shares of Barrick Gold by 1.2% in the fourth quarter. A. D. Beadell Investment Counsel Inc. now owns 59,825 shares of the gold and copper producer’s stock worth $1,082,000 after purchasing an additional 700 shares during the last quarter. S.A. Mason LLC grew its holdings in Barrick Gold by 7.9% during the fourth quarter. S.A. Mason LLC now owns 27,570 shares of the gold and copper producer’s stock worth $499,000 after acquiring an additional 2,020 shares during the period. Bangor Savings Bank grew its holdings in Barrick Gold by 9.1% during the fourth quarter. Bangor Savings Bank now owns 18,274 shares of the gold and copper producer’s stock worth $331,000 after acquiring an additional 1,523 shares during the period. Klein Pavlis & Peasley Financial Inc. acquired a new stake in Barrick Gold during the fourth quarter worth about $1,331,000. Finally, Avalon Capital Management grew its holdings in Barrick Gold by 10.6% during the fourth quarter. Avalon Capital Management now owns 20,975 shares of the gold and copper producer’s stock worth $379,000 after acquiring an additional 2,002 shares during the period. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Gold Price Performance

Shares of GOLD traded up $0.43 on Thursday, reaching $16.64. The stock had a trading volume of 28,975,668 shares, compared to its average volume of 20,537,006. The firm has a market capitalization of $29.21 billion, a PE ratio of 23.11, a PEG ratio of 1.21 and a beta of 0.57. The company has a quick ratio of 2.40, a current ratio of 3.16 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average of $15.26 and a 200 day moving average of $16.04. Barrick Gold Corp has a twelve month low of $13.76 and a twelve month high of $20.75.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings results on Wednesday, February 14th. The gold and copper producer reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.06. The business had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Barrick Gold had a return on equity of 4.64% and a net margin of 11.16%. During the same quarter in the prior year, the firm posted $0.13 EPS. Sell-side analysts expect that Barrick Gold Corp will post 0.9 EPS for the current year.

Barrick Gold Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a dividend of $0.074 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend was Wednesday, February 28th. Barrick Gold’s dividend payout ratio (DPR) is presently 55.56%.

Analyst Ratings Changes

Several brokerages have commented on GOLD. Royal Bank of Canada reissued an “outperform” rating and issued a $18.00 price objective on shares of Barrick Gold in a report on Monday, March 4th. BMO Capital Markets dropped their price objective on Barrick Gold from $26.00 to $24.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. Argus reaffirmed a “hold” rating on shares of Barrick Gold in a research note on Monday, February 26th. Sanford C. Bernstein lowered Barrick Gold from an “outperform” rating to a “market perform” rating in a research note on Monday, January 8th. Finally, Jefferies Financial Group initiated coverage on Barrick Gold in a research report on Thursday, February 29th. They set a “buy” rating and a $21.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.05.

About Barrick Gold

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.