Phoenix Wealth Advisors Has $159,000 Stake in Barrick Gold Corp (NYSE:GOLD)

Phoenix Wealth Advisors trimmed its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 52.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,270 shares of the gold and copper producer’s stock after selling 11,177 shares during the period. Phoenix Wealth Advisors’ holdings in Barrick Gold were worth $159,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOLD. Ritholtz Wealth Management lifted its holdings in shares of Barrick Gold by 2.8% in the third quarter. Ritholtz Wealth Management now owns 18,163 shares of the gold and copper producer’s stock valued at $361,000 after purchasing an additional 502 shares in the last quarter. Greenleaf Trust lifted its holdings in shares of Barrick Gold by 2.1% in the third quarter. Greenleaf Trust now owns 25,659 shares of the gold and copper producer’s stock valued at $510,000 after purchasing an additional 540 shares in the last quarter. Moors & Cabot Inc. lifted its holdings in shares of Barrick Gold by 0.9% in the third quarter. Moors & Cabot Inc. now owns 64,085 shares of the gold and copper producer’s stock valued at $1,275,000 after purchasing an additional 579 shares in the last quarter. Chelsea Counsel Co. lifted its holdings in shares of Barrick Gold by 1.4% in the third quarter. Chelsea Counsel Co. now owns 42,973 shares of the gold and copper producer’s stock valued at $855,000 after purchasing an additional 590 shares in the last quarter. Finally, Silverlake Wealth Management LLC raised its holdings in Barrick Gold by 1.3% during the third quarter. Silverlake Wealth Management LLC now owns 49,890 shares of the gold and copper producer’s stock worth $992,000 after acquiring an additional 628 shares in the last quarter. 62.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GOLD. Raymond James dropped their target price on Barrick Gold from $26.00 to $25.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. Citigroup lowered their price target on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Scotiabank downgraded Barrick Gold from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the stock from $23.00 to $19.00 in a research report on Tuesday. UBS Group downgraded Barrick Gold from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $23.00 to $22.00 in a research report on Wednesday, October 30th. Finally, Berenberg Bank boosted their price target on Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.45.

Barrick Gold Price Performance

Barrick Gold stock opened at $15.98 on Wednesday. Barrick Gold Corp has a 12 month low of $13.76 and a 12 month high of $21.35. The stock’s 50 day moving average is $16.47 and its 200-day moving average is $18.35. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $27.59 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 0.30 and a beta of 0.54.

Barrick Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend was Friday, November 29th. Barrick Gold’s dividend payout ratio is currently 43.01%.

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.