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

Scissortail Wealth Management LLC purchased a new position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) in the fourth quarter, Holdings Channel.com reports. The firm purchased 16,333 shares of the gold and copper producer’s stock, valued at approximately $295,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in shares of Barrick Gold by 35.0% during the 3rd quarter. Wellington Management Group LLP now owns 63,551,991 shares of the gold and copper producer’s stock worth $925,121,000 after purchasing an additional 16,485,756 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Barrick Gold by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 62,567,785 shares of the gold and copper producer’s stock worth $910,361,000 after purchasing an additional 956,452 shares in the last quarter. FMR LLC raised its stake in shares of Barrick Gold by 12.2% in the 3rd quarter. FMR LLC now owns 43,399,480 shares of the gold and copper producer’s stock valued at $631,228,000 after acquiring an additional 4,731,559 shares in the last quarter. BlackRock Inc. raised its stake in shares of Barrick Gold by 13.9% in the 1st quarter. BlackRock Inc. now owns 42,464,736 shares of the gold and copper producer’s stock valued at $788,570,000 after acquiring an additional 5,188,456 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of Barrick Gold by 6.3% in the 4th quarter. Mackenzie Financial Corp now owns 21,129,740 shares of the gold and copper producer’s stock valued at $361,616,000 after acquiring an additional 1,254,531 shares in the last quarter. 62.85% of the stock is owned by hedge funds and other institutional investors.

Barrick Gold Stock Performance

Shares of NYSE:GOLD traded down $0.89 during trading on Wednesday, hitting $16.48. 49,673,575 shares of the stock were exchanged, compared to its average volume of 26,440,198. Barrick Gold Corp has a 1-year low of $13.76 and a 1-year high of $20.75. The company has a market capitalization of $28.93 billion, a price-to-earnings ratio of 22.89, a price-to-earnings-growth ratio of 1.58 and a beta of 0.58. The company’s fifty day simple moving average is $15.78 and its 200-day simple moving average is $16.20. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.40 and a current ratio of 3.16.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its earnings results on Wednesday, February 14th. The gold and copper producer reported $0.27 EPS for the quarter, topping the consensus estimate of $0.21 by $0.06. The business had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.13 billion. Barrick Gold had a return on equity of 4.64% and a net margin of 11.16%. During the same quarter last year, the company earned $0.13 EPS. Sell-side analysts expect that Barrick Gold Corp will post 0.91 EPS for the current fiscal year.

Barrick Gold Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GOLD shares. Jefferies Financial Group started coverage on Barrick Gold in a research note on Thursday, February 29th. They issued a “buy” rating and a $21.00 price objective on the stock. Sanford C. Bernstein downgraded Barrick Gold from an “outperform” rating to a “market perform” rating in a research note on Monday, January 8th. Argus reissued a “hold” rating on shares of Barrick Gold in a research note on Monday, February 26th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $18.00 target price on shares of Barrick Gold in a report on Monday, March 4th. Finally, Scotiabank lowered their target price on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.05.

Barrick Gold 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.