Legacy Capital Wealth Partners LLC Sells 1,323 Shares of Barrick Gold Corp (NYSE:GOLD)

Legacy Capital Wealth Partners LLC lessened its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 9.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,285 shares of the gold and copper producer’s stock after selling 1,323 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Barrick Gold were worth $222,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV lifted its holdings in shares of Barrick Gold by 7.1% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 9,100 shares of the gold and copper producer’s stock worth $165,000 after buying an additional 600 shares during the last quarter. Stratos Wealth Partners LTD. raised its holdings in Barrick Gold by 5.3% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 13,714 shares of the gold and copper producer’s stock valued at $200,000 after acquiring an additional 689 shares in the last quarter. Legacy Wealth Asset Management LLC lifted its position in shares of Barrick Gold by 2.9% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 24,555 shares of the gold and copper producer’s stock worth $357,000 after acquiring an additional 694 shares during the period. A. D. Beadell Investment Counsel Inc. grew its holdings in shares of Barrick Gold by 1.2% during the 4th 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 in the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Barrick Gold by 13.1% during the third quarter. Fifth Third Bancorp now owns 6,067 shares of the gold and copper producer’s stock valued at $88,000 after purchasing an additional 702 shares during the period. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Price Performance

Barrick Gold stock opened at $17.32 on Tuesday. The stock has a market cap of $30.41 billion, a price-to-earnings ratio of 24.06, a P/E/G ratio of 1.50 and a beta of 0.58. Barrick Gold Corp has a 12-month low of $13.76 and a 12-month high of $20.75. 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 business’s 50-day simple moving average is $16.19 and its 200 day simple moving average is $16.34.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings results on Wednesday, February 14th. The gold and copper producer reported $0.27 EPS for the quarter, topping the consensus estimate of $0.21 by $0.06. The company had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Barrick Gold had a net margin of 11.16% and a return on equity of 4.64%. During the same quarter in the previous year, the company earned $0.13 EPS. As a group, research analysts anticipate that Barrick Gold Corp will post 0.95 earnings per share for the current year.

Barrick Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a dividend of $0.074 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.71%. The ex-dividend date was Wednesday, February 28th. Barrick Gold’s payout ratio is 55.56%.

Analysts Set New Price Targets

A number of research firms have weighed in on GOLD. BMO Capital Markets decreased their price target on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. Jefferies Financial Group began coverage on shares of Barrick Gold in a report on Thursday, February 29th. They set a “buy” rating and a $21.00 price objective for the company. Scotiabank reduced their target price on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a report on Tuesday, February 20th. National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. Finally, CIBC reduced their price objective on Barrick Gold from $27.00 to $23.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.06.

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.