Keene & Associates Inc. Cuts Stock Position in Barrick Gold Corp (NYSE:GOLD)

Keene & Associates Inc. cut its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 0.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 211,133 shares of the gold and copper producer’s stock after selling 713 shares during the period. Barrick Gold makes up 3.2% of Keene & Associates Inc.’s holdings, making the stock its 6th largest position. Keene & Associates Inc.’s holdings in Barrick Gold were worth $4,199,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the company. Sunbelt Securities Inc. boosted its stake in shares of Barrick Gold by 46.8% in the first quarter. Sunbelt Securities Inc. now owns 10,040 shares of the gold and copper producer’s stock valued at $167,000 after buying an additional 3,200 shares during the period. Edge Wealth Management LLC raised its stake in Barrick Gold by 6.3% during the first quarter. Edge Wealth Management LLC now owns 12,255 shares of the gold and copper producer’s stock worth $204,000 after buying an additional 725 shares during the last quarter. SteelPeak Wealth LLC acquired a new position in shares of Barrick Gold in the 1st quarter valued at about $169,000. Oak Asset Management LLC lifted its stake in Barrick Gold by 23.7% in the first quarter. Oak Asset Management LLC now owns 39,400 shares of the gold and copper producer’s stock valued at $656,000 after buying an additional 7,550 shares during the period. Finally, JTC Employer Solutions Trustee Ltd lifted its position in shares of Barrick Gold by 219.8% during the 1st quarter. JTC Employer Solutions Trustee Ltd now owns 15,422 shares of the gold and copper producer’s stock valued at $250,000 after acquiring an additional 10,600 shares during the period. Institutional investors own 62.85% of the company’s stock.

Analyst Ratings Changes

GOLD has been the subject of several research reports. Raymond James reduced their price target on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a research report on Thursday, September 26th. Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Thursday, August 29th. CIBC raised their price target on shares of Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. UBS Group lifted their price objective on Barrick Gold from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, Scotiabank boosted their target price on shares of Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.60.

Barrick Gold Stock Performance

NYSE:GOLD opened at $20.80 on Thursday. The stock has a 50-day simple moving average of $20.16 and a two-hundred day simple moving average of $18.30. The firm has a market capitalization of $36.45 billion, a PE ratio of 25.36, a P/E/G ratio of 0.47 and a beta of 0.55. Barrick Gold Corp has a 52-week low of $13.76 and a 52-week high of $21.35. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.31 and a current ratio of 3.01.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 EPS for the quarter, topping 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 firm had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the previous year, the firm earned $0.19 earnings per share. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. Analysts forecast that Barrick Gold Corp will post 1.27 EPS for the current year.

Barrick Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date was Friday, August 30th. Barrick Gold’s dividend payout ratio is currently 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.