Axxcess Wealth Management LLC Trims Stock Position in Barrick Gold Corp (NYSE:GOLD)

Axxcess Wealth Management LLC lessened its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 134,898 shares of the gold and copper producer’s stock after selling 967 shares during the period. Axxcess Wealth Management LLC’s holdings in Barrick Gold were worth $2,250,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Plancorp LLC increased its holdings in shares of Barrick Gold by 23.8% in the second quarter. Plancorp LLC now owns 273,027 shares of the gold and copper producer’s stock worth $4,554,000 after purchasing an additional 52,434 shares during the period. Moors & Cabot Inc. increased its stake in Barrick Gold by 11.6% in the 2nd quarter. Moors & Cabot Inc. now owns 63,506 shares of the gold and copper producer’s stock worth $1,059,000 after acquiring an additional 6,605 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Barrick Gold by 16.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,471,407 shares of the gold and copper producer’s stock valued at $124,635,000 after acquiring an additional 1,057,886 shares in the last quarter. Rathbones Group PLC boosted its position in shares of Barrick Gold by 16.6% during the 2nd quarter. Rathbones Group PLC now owns 152,937 shares of the gold and copper producer’s stock valued at $2,551,000 after acquiring an additional 21,790 shares during the last quarter. Finally, Achmea Investment Management B.V. grew its holdings in shares of Barrick Gold by 128.9% during the second quarter. Achmea Investment Management B.V. now owns 189,383 shares of the gold and copper producer’s stock worth $3,158,000 after purchasing an additional 106,630 shares in the last quarter. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GOLD. Royal Bank of Canada raised 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. 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. Scotiabank upped their target price on shares of Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Thursday, August 29th. Finally, Jefferies Financial Group upped their price objective on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Barrick Gold currently has an average rating of “Moderate Buy” and an average target price of $23.30.

Barrick Gold Stock Down 0.2 %

GOLD opened at $20.47 on Wednesday. The company has a market cap of $35.88 billion, a P/E ratio of 24.96, a P/E/G ratio of 0.49 and a beta of 0.55. Barrick Gold Corp has a 12 month low of $13.76 and a 12 month high of $21.13. The business’s 50-day moving average price is $19.07 and its 200-day moving average price is $17.55. The company has a current ratio of 3.01, a quick ratio of 2.49 and a debt-to-equity ratio of 0.15.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. The business had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.19 EPS. On average, equities analysts expect that Barrick Gold Corp will post 1.22 EPS for the current year.

Barrick Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.40 annualized dividend and a yield of 1.95%. Barrick Gold’s payout ratio is currently 48.78%.

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.