Parkside Financial Bank & Trust Increases Stake in Barrick Gold Corp (NYSE:GOLD)

Parkside Financial Bank & Trust boosted its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 19,047.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,042 shares of the gold and copper producer’s stock after acquiring an additional 8,000 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Barrick Gold were worth $145,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. International Assets Investment Management LLC increased its position in shares of Barrick Gold by 17.9% in the third quarter. International Assets Investment Management LLC now owns 19,134 shares of the gold and copper producer’s stock valued at $280,000 after buying an additional 2,909 shares in the last quarter. CWM LLC increased its position in shares of Barrick Gold by 6.9% in the third quarter. CWM LLC now owns 15,108 shares of the gold and copper producer’s stock valued at $220,000 after buying an additional 971 shares in the last quarter. Clarius Group LLC purchased a new stake in shares of Barrick Gold in the third quarter valued at approximately $262,000. U.S. Capital Wealth Advisors LLC increased its position in shares of Barrick Gold by 1.7% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 196,039 shares of the gold and copper producer’s stock valued at $2,852,000 after buying an additional 3,202 shares in the last quarter. Finally, Uncommon Cents Investing LLC increased its position in shares of Barrick Gold by 1.0% in the third quarter. Uncommon Cents Investing LLC now owns 117,225 shares of the gold and copper producer’s stock valued at $1,706,000 after buying an additional 1,145 shares in the last quarter. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GOLD has been the subject of a number of recent analyst reports. CIBC cut their price objective on Barrick Gold from $27.00 to $23.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. StockNews.com upgraded Barrick Gold from a “hold” rating to a “buy” rating in a research report on Wednesday, February 21st. BMO Capital Markets dropped their price target on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. Argus reiterated a “hold” rating on shares of Barrick Gold in a research report on Monday, February 26th. Finally, Raymond James dropped their price target on Barrick Gold from $24.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Barrick Gold currently has a consensus rating of “Moderate Buy” and an average target price of $20.06.

Barrick Gold Stock Performance

Shares of Barrick Gold stock opened at $16.51 on Thursday. Barrick Gold Corp has a 52 week low of $13.76 and a 52 week high of $20.75. The business’s fifty day simple moving average is $16.04 and its 200-day simple moving average is $16.28. The firm has a market cap of $28.99 billion, a PE ratio of 22.93, a price-to-earnings-growth ratio of 1.55 and a beta of 0.58. The company has a quick ratio of 2.40, a current ratio of 3.16 and a debt-to-equity ratio of 0.15.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings results on Wednesday, February 14th. The gold and copper producer reported $0.27 EPS for the quarter, beating the consensus estimate of $0.21 by $0.06. Barrick Gold had a return on equity of 4.64% and a net margin of 11.16%. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the prior year, the company posted $0.13 EPS. Equities analysts forecast that Barrick Gold Corp will post 0.9 earnings per share for the current year.

Barrick Gold Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a $0.074 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.79%. The ex-dividend date was Wednesday, February 28th. Barrick Gold’s dividend payout ratio (DPR) is presently 55.56%.

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.