Legacy Capital Wealth Partners LLC Has $501,000 Position in Barrick Gold Corp (NYSE:GOLD)

Legacy Capital Wealth Partners LLC boosted its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 14.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,176 shares of the gold and copper producer’s stock after purchasing an additional 3,140 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Barrick Gold were worth $501,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. First Eagle Investment Management LLC lifted its stake in shares of Barrick Gold by 31.6% in the first quarter. First Eagle Investment Management LLC now owns 58,820,050 shares of the gold and copper producer’s stock valued at $978,766,000 after buying an additional 14,138,639 shares during the period. EdgePoint Investment Group Inc. lifted its position in shares of Barrick Gold by 38.8% in the 1st quarter. EdgePoint Investment Group Inc. now owns 18,170,814 shares of the gold and copper producer’s stock worth $302,366,000 after acquiring an additional 5,080,510 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Barrick Gold by 4,713.3% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,144,456 shares of the gold and copper producer’s stock worth $69,141,000 after purchasing an additional 4,058,351 shares in the last quarter. Letko Brosseau & Associates Inc. bought a new stake in shares of Barrick Gold during the second quarter valued at approximately $66,820,000. Finally, Mizuho Markets Americas LLC acquired a new position in shares of Barrick Gold in the second quarter valued at $31,768,000. 62.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on GOLD shares. Raymond James lowered their price target on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a report on Thursday, September 26th. Royal Bank of Canada upped their target price on shares of Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. TD Securities cut their price target on shares of Barrick Gold from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Friday. UBS Group lowered Barrick Gold from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $23.00 to $22.00 in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group boosted their price target on Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Barrick Gold presently has an average rating of “Moderate Buy” and a consensus target price of $23.90.

Barrick Gold Stock Performance

Shares of NYSE:GOLD opened at $18.40 on Monday. The business has a fifty day moving average of $19.95 and a 200-day moving average of $18.47. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.31 and a current ratio of 3.01. Barrick Gold Corp has a twelve month low of $13.76 and a twelve month high of $21.35. The firm has a market cap of $32.16 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 0.43 and a beta of 0.56.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.05. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter last year, the company posted $0.19 EPS. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, equities research analysts predict that Barrick Gold Corp will post 1.29 EPS for the current fiscal year.

Barrick Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.17%. The ex-dividend date is Friday, November 29th. Barrick Gold’s dividend payout ratio (DPR) is presently 46.51%.

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.