Wedbush Securities Inc. Buys 936 Shares of Barrick Gold Corp (NYSE:GOLD)

Posted by Defense World Staff on Apr 19th, 2023

Wedbush Securities Inc. grew its stake in Barrick Gold Corp (NYSE:GOLD – Get Rating) (TSE:ABX) by 6.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,877 shares of the gold and copper producer’s stock after purchasing an additional 936 shares during the quarter. Wedbush Securities Inc.’s holdings in Barrick Gold were worth $273,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Kovack Advisors Inc. raised its position in Barrick Gold by 3.7% in the 3rd quarter. Kovack Advisors Inc. now owns 24,508 shares of the gold and copper producer’s stock valued at $380,000 after buying an additional 872 shares during the last quarter. Raymond James Trust N.A. lifted its position in shares of Barrick Gold by 25.5% during the third quarter. Raymond James Trust N.A. now owns 16,961 shares of the gold and copper producer’s stock valued at $263,000 after purchasing an additional 3,447 shares in the last quarter. Mizuho Markets Cayman LP purchased a new position in Barrick Gold during the third quarter worth about $480,000. Hsbc Holdings PLC grew its position in Barrick Gold by 9.5% in the 3rd quarter. Hsbc Holdings PLC now owns 1,105,046 shares of the gold and copper producer’s stock worth $17,122,000 after purchasing an additional 96,283 shares in the last quarter. Finally, Belpointe Asset Management LLC purchased a new stake in Barrick Gold in the 3rd quarter valued at about $549,000. Institutional investors own 56.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on GOLD shares. National Bank Financial cut their target price on Barrick Gold from C$29.00 to C$28.00 in a research note on Thursday, February 23rd. Raymond James reduced their price objective on Barrick Gold from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Thursday, February 16th. BNP Paribas cut Barrick Gold from an “outperform” rating to a “neutral” rating and set a $19.00 target price on the stock. in a research note on Monday, February 13th. Fundamental Research set a $19.02 price target on shares of Barrick Gold and gave the company a “buy” rating in a research report on Tuesday, March 7th. Finally, Barclays raised their price objective on shares of Barrick Gold from $23.00 to $26.00 and gave the stock an “overweight” rating in a report on Monday, January 30th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Barrick Gold currently has an average rating of “Moderate Buy” and an average price target of $23.60.

Barrick Gold Price Performance

GOLD opened at $19.42 on Wednesday. The firm has a 50-day moving average price of $17.76 and a 200-day moving average price of $17.17. Barrick Gold Corp has a twelve month low of $13.01 and a twelve month high of $25.40. The company has a quick ratio of 2.14, a current ratio of 2.71 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $34.09 billion, a price-to-earnings ratio of 80.92, a PEG ratio of 8.94 and a beta of 0.33.

Barrick Gold (NYSE:GOLD – Get Rating) (TSE:ABX) last released its quarterly earnings data on Wednesday, February 15th. The gold and copper producer reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. Barrick Gold had a net margin of 3.92% and a return on equity of 4.12%. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.79 billion. During the same period in the previous year, the business earned $0.35 EPS. Barrick Gold’s revenue was down 16.2% compared to the same quarter last year. Equities analysts expect that Barrick Gold Corp will post 0.89 EPS for the current year.

Barrick Gold Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Tuesday, February 28th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date was Monday, February 27th. Barrick Gold’s payout ratio is presently 166.67%.

Barrick Gold Company Profile

(Get Rating)

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.