Gamco Investors INC. ET AL Sells 92,822 Shares of Barrick Gold Corp (NYSE:GOLD)

Gamco Investors INC. ET AL lessened its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 42.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 125,866 shares of the gold and copper producer’s stock after selling 92,822 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Barrick Gold were worth $2,094,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GOLD. Principal Securities Inc. acquired a new position in Barrick Gold during the fourth quarter worth approximately $26,000. EverSource Wealth Advisors LLC increased its holdings in shares of Barrick Gold by 175.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock worth $32,000 after acquiring an additional 1,143 shares during the last quarter. Mark Sheptoff Financial Planning LLC bought a new stake in Barrick Gold in the 4th quarter valued at $45,000. Optiver Holding B.V. acquired a new stake in Barrick Gold during the 4th quarter valued at $46,000. Finally, Bruce G. Allen Investments LLC boosted its position in Barrick Gold by 82.4% during the first quarter. Bruce G. Allen Investments LLC now owns 3,504 shares of the gold and copper producer’s stock worth $58,000 after purchasing an additional 1,583 shares during the period. 62.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group increased their price objective on shares of Barrick Gold from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, July 12th. National Bank Financial restated a “sector perform overweight” rating on shares of Barrick Gold in a research report on Monday, April 8th. BMO Capital Markets reduced their price objective on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. Finally, CIBC increased their target price on Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.20.

Barrick Gold Price Performance

GOLD stock traded up $0.07 during midday trading on Friday, reaching $17.79. The company had a trading volume of 21,083,235 shares, compared to its average volume of 19,890,004. Barrick Gold Corp has a 1-year low of $13.76 and a 1-year high of $19.45. The stock has a 50 day moving average price of $17.25 and a 200-day moving average price of $16.51. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.32 and a quick ratio of 2.49. The company has a market capitalization of $31.18 billion, a price-to-earnings ratio of 21.68, a price-to-earnings-growth ratio of 0.47 and a beta of 0.51.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 EPS for the quarter, beating the consensus estimate of $0.15 by $0.04. The company had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.14 EPS. Equities research analysts expect that Barrick Gold Corp will post 1.16 earnings per share for the current year.

Barrick Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.25%. This is a boost from Barrick Gold’s previous quarterly dividend of $0.07. Barrick Gold’s payout ratio is 48.78%.

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.