Kestra Private Wealth Services LLC Sells 23,948 Shares of Barrick Gold Corp (NYSE:GOLD)

Kestra Private Wealth Services LLC lessened its stake in shares of Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 46.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,014 shares of the gold and copper producer's stock after selling 23,948 shares during the quarter. Kestra Private Wealth Services LLC's holdings in Barrick Gold were worth $434,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GOLD. Greenleaf Trust lifted its position in Barrick Gold by 2.1% in the 3rd quarter. Greenleaf Trust now owns 25,659 shares of the gold and copper producer's stock valued at $510,000 after acquiring an additional 540 shares in the last quarter. Moors & Cabot Inc. lifted its position in Barrick Gold by 0.9% in the 3rd quarter. Moors & Cabot Inc. now owns 64,085 shares of the gold and copper producer's stock valued at $1,275,000 after acquiring an additional 579 shares in the last quarter. Chelsea Counsel Co. lifted its position in Barrick Gold by 1.4% in the 3rd quarter. Chelsea Counsel Co. now owns 42,973 shares of the gold and copper producer's stock valued at $855,000 after acquiring an additional 590 shares in the last quarter. Avior Wealth Management LLC lifted its position in Barrick Gold by 24.1% in the 3rd quarter. Avior Wealth Management LLC now owns 3,399 shares of the gold and copper producer's stock valued at $68,000 after acquiring an additional 659 shares in the last quarter. Finally, Whitener Capital Management Inc. lifted its position in Barrick Gold by 0.9% in the 3rd quarter. Whitener Capital Management Inc. now owns 73,185 shares of the gold and copper producer's stock valued at $1,456,000 after acquiring an additional 675 shares in the last quarter. Institutional investors own 62.85% of the company's stock.

Wall Street Analyst Weigh In

GOLD has been the topic of several recent research reports. Citigroup dropped their price target on shares of Barrick Gold from $23.00 to $17.00 and set a "neutral" rating on the stock in a research report on Friday, December 20th. Bank of America cut shares of Barrick Gold from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $21.00 to $18.00 in a research report on Monday, January 27th. Scotiabank lifted their target price on shares of Barrick Gold from $19.00 to $20.00 and gave the stock a "sector perform" rating in a research report on Tuesday. Berenberg Bank lifted their target price on shares of Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. Finally, Cibc World Mkts cut shares of Barrick Gold from a "strong-buy" rating to a "hold" rating in a research report on Monday, November 25th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $23.75.

Barrick Gold Stock Performance

Shares of GOLD stock traded up $0.04 during trading hours on Thursday, hitting $18.82. 25,490,598 shares of the company were exchanged, compared to its average volume of 22,599,492. Barrick Gold Corp has a 52-week low of $14.27 and a 52-week high of $21.35. The stock has a market capitalization of $32.50 billion, a price-to-earnings ratio of 15.30, a P/E/G ratio of 0.43 and a beta of 0.55. The company has a current ratio of 2.89, a quick ratio of 2.15 and a debt-to-equity ratio of 0.14. The firm has a fifty day simple moving average of $16.32 and a 200 day simple moving average of $18.17.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last released its quarterly earnings data on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share for the quarter, meeting analysts' consensus estimates of $0.46. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. Research analysts predict that Barrick Gold Corp will post 1.47 earnings per share for the current fiscal year.

Barrick Gold declared that its board has authorized a share repurchase plan on Wednesday, February 12th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the gold and copper producer to purchase up to 3.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its shares are undervalued.

Barrick Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a $0.10 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.40 dividend on an annualized basis and a yield of 2.13%. Barrick Gold's dividend payout ratio is 32.52%.

Barrick Gold Company 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.