Keating Investment Counselors Inc. Sells 57,225 Shares of Barrick Gold Corp (NYSE:GOLD)

Keating Investment Counselors Inc. reduced its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 9.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 532,278 shares of the gold and copper producer’s stock after selling 57,225 shares during the period. Barrick Gold makes up approximately 2.8% of Keating Investment Counselors Inc.’s holdings, making the stock its 6th biggest holding. Keating Investment Counselors Inc.’s holdings in Barrick Gold were worth $8,878,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Principal Securities Inc. acquired a new stake in Barrick Gold during the 4th quarter worth approximately $26,000. Clean Yield Group bought a new stake in shares of Barrick Gold in the first quarter worth $25,000. EverSource Wealth Advisors LLC lifted its position in shares of Barrick Gold by 175.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock worth $32,000 after purchasing an additional 1,143 shares in the last quarter. Crewe Advisors LLC lifted its position in shares of Barrick Gold by 628.8% in 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, Jackson Grant Investment Advisers Inc. bought a new stake in shares of Barrick Gold in the second quarter worth $32,000. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on GOLD. Scotiabank boosted their price objective 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 raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Thursday, August 29th. Jefferies Financial Group boosted their price objective on shares of Barrick Gold from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Finally, CIBC boosted their target price on shares of Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.80.

Barrick Gold Price Performance

NYSE:GOLD opened at $19.00 on Friday. Barrick Gold Corp has a one year low of $13.76 and a one year high of $20.89. The company has a market cap of $33.30 billion, a P/E ratio of 23.17, a P/E/G ratio of 0.51 and a beta of 0.55. The firm’s fifty day moving average price is $18.65 and its two-hundred day moving average price is $17.26. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.32 and a quick ratio of 2.49.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 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 5.55%. The firm had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the previous year, the company earned $0.19 earnings per share. The company’s quarterly revenue was up 11.6% on a year-over-year basis. Equities analysts expect that Barrick Gold Corp will post 1.21 earnings per share for the current year.

Barrick Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.40 annualized dividend and a yield of 2.11%. Barrick Gold’s dividend payout ratio is 48.78%.

About Barrick Gold

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.