Barrick Gold Corp (NYSE:B) Shares Bought by Butensky & Cohen Financial Security Inc.

Butensky & Cohen Financial Security Inc. grew its holdings in shares of Barrick Gold Corp (NYSE:B) (TSE:ABX) by 8.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 167,959 shares of the gold and copper producer’s stock after buying an additional 12,747 shares during the period. Butensky & Cohen Financial Security Inc.’s holdings in Barrick Gold were worth $3,265,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Keystone Financial Group raised its holdings in Barrick Gold by 1.4% during the fourth quarter. Keystone Financial Group now owns 56,394 shares of the gold and copper producer’s stock worth $874,000 after purchasing an additional 753 shares in the last quarter. Edge Wealth Management LLC raised its holdings in Barrick Gold by 6.1% during the first quarter. Edge Wealth Management LLC now owns 13,110 shares of the gold and copper producer’s stock worth $255,000 after purchasing an additional 755 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Barrick Gold by 55.8% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 2,193 shares of the gold and copper producer’s stock worth $43,000 after purchasing an additional 785 shares in the last quarter. VisionPoint Advisory Group LLC raised its holdings in Barrick Gold by 6.7% during the fourth quarter. VisionPoint Advisory Group LLC now owns 14,051 shares of the gold and copper producer’s stock worth $224,000 after purchasing an additional 880 shares in the last quarter. Finally, 180 Wealth Advisors LLC raised its holdings in Barrick Gold by 5.9% during the first quarter. 180 Wealth Advisors LLC now owns 16,452 shares of the gold and copper producer’s stock worth $320,000 after purchasing an additional 918 shares in the last quarter. Institutional investors own 90.82% of the company’s stock.

Barrick Gold Trading Down 1.0%

NYSE B opened at $19.83 on Friday. Barrick Gold Corp has a twelve month low of $17.41 and a twelve month high of $47.50. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89. The stock has a market cap of $34.10 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 0.44 and a beta of 0.27. The firm’s 50 day moving average price is $19.08 and its two-hundred day moving average price is $17.88.

Barrick Gold (NYSE:B) (TSE:ABX) last posted its quarterly earnings data on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.06. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same period in the previous year, the company posted $0.19 EPS. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. Equities analysts anticipate that Barrick Gold Corp will post 1.47 EPS for the current year.

Barrick Gold declared that its board has approved a stock repurchase plan on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the gold and copper producer to purchase up to 3.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Barrick Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, May 30th. Barrick Gold’s dividend payout ratio is currently 30.08%.

Analysts Set New Price Targets

Several equities research analysts recently commented on B shares. Royal Bank of Canada boosted their target price on Barrick Gold from $23.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday. Scotiabank lifted their price target on shares of Barrick Gold from $20.00 to $22.00 and gave the stock a “sector perform” rating in a research report on Monday, April 14th. Stifel Canada upgraded shares of Barrick Gold to a “strong-buy” rating in a research report on Wednesday, March 19th. BMO Capital Markets started coverage on shares of Barrick Gold in a research report on Wednesday, April 16th. They issued a “market perform” rating on the stock. Finally, National Bank Financial upgraded shares of Barrick Gold to a “hold” rating in a research report on Friday, March 21st. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.32.

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.