Kovack Advisors Inc. Has $369,000 Stake in Barrick Gold Corp (NYSE:GOLD)

Kovack Advisors Inc. trimmed its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 2.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,813 shares of the gold and copper producer’s stock after selling 658 shares during the quarter. Kovack Advisors Inc.’s holdings in Barrick Gold were worth $369,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of GOLD. Sprott Inc. raised its position in Barrick Gold by 63.1% in the 4th quarter. Sprott Inc. now owns 121,426 shares of the gold and copper producer’s stock valued at $1,882,000 after buying an additional 46,998 shares during the last quarter. Bank of New York Mellon Corp raised its position in Barrick Gold by 3.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,587,147 shares of the gold and copper producer’s stock valued at $24,601,000 after buying an additional 54,182 shares during the last quarter. Skylands Capital LLC raised its position in Barrick Gold by 4.2% in the 4th quarter. Skylands Capital LLC now owns 423,350 shares of the gold and copper producer’s stock valued at $6,562,000 after buying an additional 16,900 shares during the last quarter. RWC Asset Management LLP raised its position in Barrick Gold by 14.4% in the 4th quarter. RWC Asset Management LLP now owns 3,254,263 shares of the gold and copper producer’s stock valued at $50,441,000 after buying an additional 409,677 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd raised its position in Barrick Gold by 208.8% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 177,659 shares of the gold and copper producer’s stock valued at $2,754,000 after buying an additional 120,129 shares during the last quarter. 62.85% of the stock is owned by institutional investors and hedge funds.

Barrick Gold Stock Down 0.3 %

GOLD stock opened at $17.74 on Friday. 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 company has a market capitalization of $30.63 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 0.44 and a beta of 0.55. Barrick Gold Corp has a fifty-two week low of $14.56 and a fifty-two week high of $21.35. The stock has a fifty day moving average of $16.61 and a 200-day moving average of $18.19.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share for the quarter, hitting the consensus estimate of $0.46. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. As a group, equities research analysts predict that Barrick Gold Corp will post 1.47 earnings per share for the current year.

Barrick Gold declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the gold and copper producer to buy up to 3.2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Barrick Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be paid a $0.10 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.40 annualized dividend and a yield of 2.26%. Barrick Gold’s dividend payout ratio is currently 32.52%.

Analyst Ratings Changes

A number of equities research analysts recently commented on GOLD shares. Citigroup lowered their price target on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Bank of America downgraded Barrick Gold from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $21.00 to $18.00 in a research note on Monday, January 27th. CIBC downgraded Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. Scotiabank upped their price objective on Barrick Gold from $19.00 to $20.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 18th. Finally, Berenberg Bank upped their price objective on Barrick Gold from $37.00 to $38.00 in a research note on Tuesday, November 26th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Barrick Gold presently has an average rating of “Moderate Buy” and a consensus target price of $23.75.

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.