Barrick Gold Corp (NYSE:GOLD) Position Trimmed by DORCHESTER WEALTH MANAGEMENT Co

DORCHESTER WEALTH MANAGEMENT Co lowered its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 8.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,125 shares of the gold and copper producer’s stock after selling 2,294 shares during the period. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Barrick Gold were worth $480,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Clean Yield Group acquired a new position in shares of Barrick Gold in the first quarter worth about $25,000. Exchange Traded Concepts LLC lifted its position in shares of Barrick Gold by 198.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock valued at $28,000 after acquiring an additional 935 shares in the last quarter. Crewe Advisors LLC boosted its stake in Barrick Gold by 628.8% in the 2nd quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock worth $30,000 after purchasing an additional 1,572 shares during the period. Jackson Grant Investment Advisers Inc. purchased a new position in Barrick Gold during the 2nd quarter worth approximately $32,000. Finally, Eastern Bank acquired a new stake in Barrick Gold during the 3rd quarter valued at $32,000. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Stock Performance

Shares of Barrick Gold stock traded down $0.50 during midday trading on Thursday, hitting $20.30. The company had a trading volume of 6,238,212 shares, compared to its average volume of 20,974,070. The stock has a market cap of $35.58 billion, a PE ratio of 25.06, a P/E/G ratio of 0.47 and a beta of 0.55. Barrick Gold Corp has a 1-year low of $13.76 and a 1-year high of $21.35. The business’s 50 day simple moving average is $20.16 and its two-hundred day simple moving average is $18.30. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.01 and a quick ratio of 2.31.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The firm had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same period in the previous year, the company posted $0.19 earnings per share. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, equities analysts predict that Barrick Gold Corp will post 1.27 EPS for the current fiscal year.

Barrick Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend was Friday, August 30th. Barrick Gold’s dividend payout ratio (DPR) is presently 48.78%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on GOLD shares. Royal Bank of Canada lifted their price target on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Raymond James cut their target price on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a research report on Thursday, September 26th. Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Thursday, August 29th. Scotiabank raised their price target on Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Finally, CIBC raised their price objective on shares of Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Barrick Gold presently has an average rating of “Moderate Buy” and a consensus target price of $23.60.

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.