Franklin Street Advisors Inc. NC Takes $380,000 Position in Barrick Gold Corp (NYSE:GOLD)

Franklin Street Advisors Inc. NC bought a new position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) during the 4th quarter, Holdings Channel.com reports. The fund bought 21,000 shares of the gold and copper producer’s stock, valued at approximately $380,000.

A number of other institutional investors have also recently modified their holdings of GOLD. Fairfield Bush & CO. bought a new position in shares of Barrick Gold in the 2nd quarter valued at $29,000. Bruce G. Allen Investments LLC bought a new position in Barrick Gold during the fourth quarter worth $35,000. Resurgent Financial Advisors LLC acquired a new stake in shares of Barrick Gold in the 4th quarter valued at about $36,000. FWL Investment Management LLC bought a new stake in shares of Barrick Gold during the fourth quarter valued at approximately $36,000. Finally, Chilton Capital Management LLC bought a new stake in Barrick Gold during the 1st quarter valued at $37,000. 62.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GOLD has been the topic of a number of recent research reports. StockNews.com upgraded Barrick Gold from a “hold” rating to a “buy” rating in a report on Wednesday, February 21st. BMO Capital Markets dropped their price objective on Barrick Gold from $26.00 to $24.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. Argus reiterated a “hold” rating on shares of Barrick Gold in a research note on Monday, February 26th. Sanford C. Bernstein lowered Barrick Gold from an “outperform” rating to a “market perform” rating in a report on Monday, January 8th. Finally, Scotiabank dropped their price objective on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.05.

Barrick Gold Stock Up 2.7 %

Shares of NYSE GOLD opened at $16.64 on Friday. The company has a quick ratio of 2.40, a current ratio of 3.16 and a debt-to-equity ratio of 0.15. The firm’s fifty day moving average is $15.27 and its 200 day moving average is $16.04. The company has a market cap of $29.21 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 1.26 and a beta of 0.57. Barrick Gold Corp has a 52 week low of $13.76 and a 52 week high of $20.75.

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

Barrick Gold Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a $0.074 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.30 annualized dividend and a yield of 1.78%. Barrick Gold’s payout ratio is 55.56%.

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.