Scissortail Wealth Management LLC Invests $295,000 in Barrick Gold Corp (NYSE:GOLD)

Scissortail Wealth Management LLC acquired a new position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 16,333 shares of the gold and copper producer’s stock, valued at approximately $295,000.

Other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP increased its position in shares of Barrick Gold by 35.0% during the third quarter. Wellington Management Group LLP now owns 63,551,991 shares of the gold and copper producer’s stock valued at $925,121,000 after buying an additional 16,485,756 shares during the period. Snider Financial Group purchased a new position in shares of Barrick Gold during the first quarter valued at about $185,000. BlackRock Inc. increased its position in shares of Barrick Gold by 13.9% during the first quarter. BlackRock Inc. now owns 42,464,736 shares of the gold and copper producer’s stock valued at $788,570,000 after buying an additional 5,188,456 shares during the period. FMR LLC boosted its stake in Barrick Gold by 12.2% during the third quarter. FMR LLC now owns 43,399,480 shares of the gold and copper producer’s stock worth $631,228,000 after acquiring an additional 4,731,559 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD bought a new stake in Barrick Gold during the first quarter worth about $53,227,000. 62.85% of the stock is owned by institutional investors.

Barrick Gold Stock Down 5.1 %

Shares of NYSE GOLD traded down $0.89 during trading hours on Wednesday, hitting $16.48. 49,673,575 shares of the stock were exchanged, compared to its average volume of 26,440,198. The firm has a fifty day moving average price of $15.78 and a 200-day moving average price of $16.20. The company has a market cap of $28.93 billion, a PE ratio of 22.89, a PEG ratio of 1.58 and a beta of 0.58. The company has a quick ratio of 2.40, a current ratio of 3.16 and a debt-to-equity ratio of 0.15. Barrick Gold Corp has a 12 month low of $13.76 and a 12 month high of $20.75.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings data on Wednesday, February 14th. The gold and copper producer reported $0.27 EPS for the quarter, beating the consensus estimate of $0.21 by $0.06. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.13 billion. Barrick Gold had a net margin of 11.16% and a return on equity of 4.64%. During the same period in the prior year, the firm earned $0.13 EPS. On average, sell-side analysts expect that Barrick Gold Corp will post 0.91 EPS for the current year.

Barrick Gold Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a dividend of $0.074 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date was Wednesday, February 28th. Barrick Gold’s dividend payout ratio (DPR) is presently 55.56%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $18.00 target price on shares of Barrick Gold in a research note on Monday, March 4th. Raymond James reduced their target price on shares of Barrick Gold from $24.00 to $23.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. Sanford C. Bernstein cut shares of Barrick Gold from an “outperform” rating to a “market perform” rating in a report on Monday, January 8th. StockNews.com raised shares of Barrick Gold from a “hold” rating to a “buy” rating in a report on Wednesday, February 21st. Finally, Argus reaffirmed a “hold” rating on shares of Barrick Gold in a report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Barrick Gold presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.05.

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.