Avantax Advisory Services Inc. Sells 23,388 Shares of Barrick Gold Corp (NYSE:GOLD)

Avantax Advisory Services Inc. trimmed its holdings in Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 28.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,873 shares of the gold and copper producer's stock after selling 23,388 shares during the period. Avantax Advisory Services Inc.'s holdings in Barrick Gold were worth $928,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in GOLD. Principal Financial Group Inc. lifted its stake in shares of Barrick Gold by 19.9% in the third quarter. Principal Financial Group Inc. now owns 483,613 shares of the gold and copper producer's stock worth $9,630,000 after buying an additional 80,366 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Barrick Gold by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,073,717 shares of the gold and copper producer's stock worth $78,637,000 after buying an additional 128,203 shares during the last quarter. Crocodile Capital Partners GmbH lifted its stake in shares of Barrick Gold by 97.3% in the fourth quarter. Crocodile Capital Partners GmbH now owns 1,460,000 shares of the gold and copper producer's stock worth $22,630,000 after buying an additional 720,000 shares during the last quarter. Chiron Investment Management LLC lifted its stake in shares of Barrick Gold by 36.5% in the third quarter. Chiron Investment Management LLC now owns 604,199 shares of the gold and copper producer's stock worth $12,018,000 after buying an additional 161,688 shares during the last quarter. Finally, Legend Financial Advisors Inc. acquired a new stake in shares of Barrick Gold in the fourth quarter worth $700,000. 62.85% of the stock is owned by institutional investors.

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Barrick Gold Stock Performance

Barrick Gold stock traded down $0.43 on Friday, hitting $18.86. The company's stock had a trading volume of 24,998,580 shares, compared to its average volume of 21,591,432. The firm has a market cap of $32.54 billion, a P/E ratio of 15.33, a price-to-earnings-growth ratio of 0.44 and a beta of 0.58. The company has a quick ratio of 2.15, a current ratio of 2.89 and a debt-to-equity ratio of 0.14. The company has a fifty day moving average price of $17.50 and a 200-day moving average price of $18.04. Barrick Gold Corp has a one year low of $0.25 and a one year high of $21.35.

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

Barrick Gold announced that its Board of Directors has approved a share repurchase program 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 reacquire up to 3.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Barrick Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Friday, February 28th. Barrick Gold's payout ratio is 32.52%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Cibc World Mkts cut shares of Barrick Gold from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 25th. Bank of America cut shares of Barrick Gold from a "buy" rating to a "neutral" rating and cut their target price for the company from $21.00 to $18.00 in a research note on Monday, January 27th. Scotiabank upped their target price on shares of Barrick Gold from $19.00 to $20.00 and gave the company a "sector perform" rating in a research note on Tuesday, February 18th. TD Securities cut their target price on shares of Barrick Gold from $24.00 to $23.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Finally, CIBC cut shares of Barrick Gold from a "sector outperform" rating to a "neutral" rating in a research note on Monday, November 25th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $23.75.

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.