Barrick Gold Corp (NYSE:GOLD) Shares Sold by Stratos Wealth Partners LTD.

Posted by Defense World Staff on Jul 23rd, 2023

Stratos Wealth Partners LTD. trimmed its position in Barrick Gold Corp (NYSE:GOLD – Free Report) (TSE:ABX) by 7.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,061 shares of the gold and copper producer’s stock after selling 971 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Barrick Gold were worth $224,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of GOLD. Greenleaf Trust grew its position in shares of Barrick Gold by 2.2% in the 4th quarter. Greenleaf Trust now owns 26,112 shares of the gold and copper producer’s stock valued at $449,000 after buying an additional 567 shares during the last quarter. Allworth Financial LP grew its position in shares of Barrick Gold by 41.7% in the 1st quarter. Allworth Financial LP now owns 2,088 shares of the gold and copper producer’s stock valued at $39,000 after buying an additional 614 shares during the last quarter. Sage Rhino Capital LLC grew its position in shares of Barrick Gold by 2.3% in the 4th quarter. Sage Rhino Capital LLC now owns 29,535 shares of the gold and copper producer’s stock valued at $507,000 after buying an additional 656 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Barrick Gold by 11.5% in the 1st quarter. Fifth Third Bancorp now owns 6,478 shares of the gold and copper producer’s stock valued at $120,000 after buying an additional 666 shares during the last quarter. Finally, Oxbow Advisors LLC grew its position in shares of Barrick Gold by 1.3% in the 1st quarter. Oxbow Advisors LLC now owns 52,324 shares of the gold and copper producer’s stock valued at $972,000 after buying an additional 670 shares during the last quarter. 55.45% of the stock is currently owned by institutional investors and hedge funds.

Barrick Gold Price Performance

Barrick Gold stock opened at $17.40 on Friday. Barrick Gold Corp has a 1 year low of $13.01 and a 1 year high of $20.75. The firm has a 50 day moving average price of $15.69 and a 200 day moving average price of $13.10. The company has a market cap of $30.55 billion, a price-to-earnings ratio of 290.00, a PEG ratio of 9.80 and a beta of 0.33. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.14 and a current ratio of 2.71.

Barrick Gold (NYSE:GOLD – Get Free Report) (TSE:ABX) last released its quarterly earnings data on Wednesday, May 3rd. The gold and copper producer reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.03. Barrick Gold had a net margin of 1.06% and a return on equity of 3.46%. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same period in the previous year, the firm earned $0.26 earnings per share. Barrick Gold’s revenue for the quarter was down 7.4% on a year-over-year basis. Sell-side analysts predict that Barrick Gold Corp will post 0.98 earnings per share for the current year.

Barrick Gold Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st were paid a dividend of $0.074 per share. The ex-dividend date was Tuesday, May 30th. This represents a $0.30 annualized dividend and a yield of 1.70%. Barrick Gold’s dividend payout ratio is currently 666.67%.

Analyst Ratings Changes

Several brokerages recently commented on GOLD. The Goldman Sachs Group raised their price objective on shares of Barrick Gold from $19.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, April 21st. Stifel Nicolaus lifted their target price on shares of Barrick Gold from C$29.00 to C$30.00 in a research report on Thursday, April 20th. National Bank Financial lifted their target price on shares of Barrick Gold from C$28.00 to C$32.00 in a research report on Tuesday, April 18th. Laurentian cut their target price on shares of Barrick Gold from C$5.00 to C$4.70 in a research report on Thursday, May 4th. Finally, Barclays boosted their price objective on shares of Barrick Gold from $26.00 to $28.00 and gave the company an “overweight” rating in a research report on Friday, April 21st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.52.

About Barrick Gold

(Free Report)

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.