IFP Advisors Inc Sells 28,785 Shares of Barrick Gold Corp (NYSE:GOLD)

IFP Advisors Inc reduced its holdings in shares of Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 73.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,416 shares of the gold and copper producer's stock after selling 28,785 shares during the quarter. IFP Advisors Inc's holdings in Barrick Gold were worth $161,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in GOLD. First Trust Direct Indexing L.P. boosted its position in shares of Barrick Gold by 26.4% during the third quarter. First Trust Direct Indexing L.P. now owns 25,044 shares of the gold and copper producer's stock valued at $498,000 after buying an additional 5,235 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in Barrick Gold by 42.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 184,897 shares of the gold and copper producer's stock worth $3,678,000 after acquiring an additional 55,051 shares during the last quarter. Crescent Grove Advisors LLC bought a new stake in shares of Barrick Gold in the 3rd quarter worth $267,000. Fractal Investments LLC raised its holdings in shares of Barrick Gold by 32.3% in the third quarter. Fractal Investments LLC now owns 16,400 shares of the gold and copper producer's stock valued at $326,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Concurrent Investment Advisors LLC bought a new position in shares of Barrick Gold during the third quarter valued at about $337,000. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GOLD has been the subject of a number of recent analyst reports. Berenberg Bank upped their price objective on shares of Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. TD Securities reduced their target price on Barrick Gold from $24.00 to $23.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Scotiabank lifted their price target on Barrick Gold from $19.00 to $20.00 and gave the stock a "sector perform" rating in a report on Tuesday, February 18th. CIBC cut Barrick Gold from a "sector outperform" rating to a "neutral" rating in a research report on Monday, November 25th. Finally, Raymond James decreased their target price on Barrick Gold from $25.00 to $24.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $23.75.

Barrick Gold Stock Performance

Barrick Gold stock traded up $0.72 during midday trading on Wednesday, reaching $18.45. The stock had a trading volume of 23,778,679 shares, compared to its average volume of 23,724,295. 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 firm has a market capitalization of $31.86 billion, a PE ratio of 15.00, a P/E/G ratio of 0.44 and a beta of 0.55. Barrick Gold Corp has a 12 month low of $15.11 and a 12 month high of $21.35. The firm's 50-day moving average price is $16.75 and its 200 day moving average price is $18.16.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last posted its quarterly earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. As a group, 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 declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Friday, February 28th. Barrick Gold's payout ratio is currently 32.52%.

Barrick Gold announced that its board has initiated a share 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 repurchase up to 3.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is undervalued.

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.