Barrick Gold Corp (NYSE:GOLD) Shares Sold by Xcel Wealth Management LLC

Xcel Wealth Management LLC cut its holdings in Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 25.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,200 shares of the gold and copper producer's stock after selling 14,750 shares during the quarter. Xcel Wealth Management LLC's holdings in Barrick Gold were worth $670,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GOLD. Van ECK Associates Corp increased its holdings in Barrick Gold by 2.1% in the fourth quarter. Van ECK Associates Corp now owns 76,299,834 shares of the gold and copper producer's stock valued at $1,182,641,000 after buying an additional 1,563,361 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Barrick Gold by 2.7% in the 3rd quarter. Wellington Management Group LLP now owns 54,712,508 shares of the gold and copper producer's stock worth $1,088,484,000 after acquiring an additional 1,458,084 shares during the period. The Manufacturers Life Insurance Company increased its stake in Barrick Gold by 33.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,431,497 shares of the gold and copper producer's stock valued at $227,524,000 after purchasing an additional 2,854,055 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Barrick Gold by 221.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,027,811 shares of the gold and copper producer's stock worth $199,427,000 after purchasing an additional 6,904,934 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Barrick Gold by 9.5% during the third quarter. Geode Capital Management LLC now owns 8,047,255 shares of the gold and copper producer's stock worth $162,140,000 after purchasing an additional 696,556 shares in the last quarter. Institutional investors and hedge funds own 62.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GOLD. Scotiabank raised their price target on Barrick Gold from $19.00 to $20.00 and gave the company a "sector perform" rating in a research report on Tuesday, February 18th. Citigroup dropped their target price on shares of Barrick Gold from $23.00 to $17.00 and set a "neutral" rating for the company in a report on Friday, December 20th. TD Securities reduced their price target on shares of Barrick Gold from $24.00 to $23.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. CIBC cut shares of Barrick Gold from a "sector outperform" rating to a "neutral" rating in a research note on Monday, November 25th. Finally, Berenberg Bank lifted their price objective on Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $23.75.

Barrick Gold Trading Up 4.0 %

GOLD stock traded up $0.72 during midday trading on Wednesday, hitting $18.45. The stock had a trading volume of 23,581,741 shares, compared to its average volume of 23,714,012. Barrick Gold Corp has a 12-month low of $15.11 and a 12-month high of $21.35. The firm has a market cap of $31.86 billion, a PE ratio of 15.00, a price-to-earnings-growth ratio of 0.44 and a beta of 0.55. The company's 50-day moving average price is $16.69 and its 200 day moving average price is $18.16. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last announced its quarterly earnings data on Wednesday, February 12th. The gold and copper producer reported $0.46 EPS for the quarter, meeting 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 predict that Barrick Gold Corp will post 1.47 earnings per share for the current fiscal year.

Barrick Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.40 annualized dividend and a dividend yield of 2.17%. Barrick Gold's payout ratio is currently 32.52%.

Barrick Gold declared that its Board of Directors has authorized a stock repurchase program on Wednesday, February 12th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the gold and copper producer to purchase up to 3.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is undervalued.

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.