Kovack Advisors Inc. Sells 658 Shares of Barrick Gold Corp (NYSE:GOLD)

Kovack Advisors Inc. lowered its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 2.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 23,813 shares of the gold and copper producer’s stock after selling 658 shares during the quarter. Kovack Advisors Inc.’s holdings in Barrick Gold were worth $369,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Moors & Cabot Inc. raised its holdings in shares of Barrick Gold by 0.9% in the 3rd quarter. Moors & Cabot Inc. now owns 64,085 shares of the gold and copper producer’s stock valued at $1,275,000 after acquiring an additional 579 shares in the last quarter. Chelsea Counsel Co. raised its holdings in shares of Barrick Gold by 1.4% in the 3rd quarter. Chelsea Counsel Co. now owns 42,973 shares of the gold and copper producer’s stock valued at $855,000 after acquiring an additional 590 shares in the last quarter. Avior Wealth Management LLC raised its holdings in shares of Barrick Gold by 24.1% during the 3rd quarter. Avior Wealth Management LLC now owns 3,399 shares of the gold and copper producer’s stock valued at $68,000 after buying an additional 659 shares in the last quarter. Whitener Capital Management Inc. raised its holdings in shares of Barrick Gold by 0.9% during the 3rd quarter. Whitener Capital Management Inc. now owns 73,185 shares of the gold and copper producer’s stock valued at $1,456,000 after buying an additional 675 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of Barrick Gold by 0.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 147,903 shares of the gold and copper producer’s stock valued at $2,953,000 after buying an additional 732 shares in the last quarter. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Citigroup decreased their price objective on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. Berenberg Bank raised their price objective on Barrick Gold from $37.00 to $38.00 in a report on Tuesday, November 26th. CIBC cut Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday, November 25th. Cibc World Mkts cut Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. Finally, TD Securities decreased their price objective on Barrick Gold from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.75.

Barrick Gold Price Performance

Shares of GOLD stock opened at $17.74 on Friday. The firm has a market cap of $30.63 billion, a P/E ratio of 14.42, a P/E/G ratio of 0.44 and a beta of 0.55. Barrick Gold Corp has a fifty-two week low of $14.56 and a fifty-two week high of $21.35. The business’s 50 day moving average price is $16.61 and its 200-day moving average price is $18.19. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings data on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.46. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. On average, equities research analysts anticipate that Barrick Gold Corp will post 1.47 earnings per share for the current year.

Barrick Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.26%. Barrick Gold’s dividend payout ratio is currently 32.52%.

Barrick Gold announced that its Board of Directors has authorized a share buyback program on Wednesday, February 12th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the gold and copper producer to repurchase up to 3.2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

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.