Harvest Portfolios Group Inc. Lowers Stake in Barrick Gold Corp (NYSE:GOLD)

Harvest Portfolios Group Inc. decreased its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 8.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,327 shares of the gold and copper producer’s stock after selling 2,688 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Barrick Gold were worth $603,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC raised its holdings 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 buying an additional 935 shares during the period. Clean Yield Group acquired a new position in Barrick Gold in the 1st quarter valued at about $25,000. Eastern Bank purchased a new stake in Barrick Gold during the third quarter worth about $32,000. Crewe Advisors LLC lifted its position in shares of Barrick Gold by 628.8% during the second 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 in the last quarter. Finally, JFS Wealth Advisors LLC boosted its stake in shares of Barrick Gold by 451.7% in the third quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer’s stock valued at $38,000 after purchasing an additional 1,563 shares during the period. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOLD has been the topic of several recent research reports. Jefferies Financial Group upped their target price on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. UBS Group lowered Barrick Gold from a “buy” rating to a “neutral” rating and decreased their target price for the company from $23.00 to $22.00 in a report on Wednesday, October 30th. Scotiabank upped their price target on Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Royal Bank of Canada increased their price target on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Finally, Raymond James lowered their price objective on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a research report on Thursday, September 26th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Barrick Gold presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.50.

Barrick Gold Stock Down 2.4 %

GOLD stock opened at $18.43 on Thursday. The company’s 50 day moving average is $20.02 and its two-hundred day moving average is $18.44. Barrick Gold Corp has a twelve month low of $13.76 and a twelve month high of $21.35. The company has a current ratio of 3.01, a quick ratio of 2.31 and a debt-to-equity ratio of 0.15. The stock has a market cap of $32.22 billion, a P/E ratio of 21.43, a PEG ratio of 0.45 and a beta of 0.56.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings data 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 net margin of 12.78% and a return on equity of 5.53%. The company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the firm posted $0.19 earnings per share. Barrick Gold’s revenue for the quarter was up 11.6% on a year-over-year basis. Research analysts expect that Barrick Gold Corp will post 1.29 earnings per share for the current fiscal year.

Barrick Gold Announces Dividend

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. This represents a $0.40 annualized dividend and a yield of 2.17%. The ex-dividend date was Friday, August 30th. Barrick Gold’s dividend payout ratio (DPR) is 46.51%.

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.