Legacy Capital Wealth Partners LLC Reduces Stock Holdings in Barrick Gold Corp (NYSE:GOLD)

Legacy Capital Wealth Partners LLC lessened its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 9.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,285 shares of the gold and copper producer’s stock after selling 1,323 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Barrick Gold were worth $222,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wellington Management Group LLP boosted its position in shares of Barrick Gold by 35.0% in the 3rd quarter. Wellington Management Group LLP now owns 63,551,991 shares of the gold and copper producer’s stock valued at $925,121,000 after purchasing an additional 16,485,756 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Barrick Gold by 1.6% in the third quarter. Vanguard Group Inc. now owns 62,567,785 shares of the gold and copper producer’s stock valued at $910,361,000 after acquiring an additional 956,452 shares during the period. FMR LLC grew its position in shares of Barrick Gold by 12.2% during the third quarter. FMR LLC now owns 43,399,480 shares of the gold and copper producer’s stock worth $631,228,000 after acquiring an additional 4,731,559 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of Barrick Gold by 4.4% in the 4th quarter. Mackenzie Financial Corp now owns 18,783,046 shares of the gold and copper producer’s stock valued at $339,524,000 after acquiring an additional 787,829 shares during the period. Finally, Ninety One UK Ltd raised its position in Barrick Gold by 13.2% in the 4th quarter. Ninety One UK Ltd now owns 16,022,022 shares of the gold and copper producer’s stock valued at $289,838,000 after purchasing an additional 1,870,059 shares during the last quarter. Institutional investors and hedge funds own 62.85% of the company’s stock.

Wall Street Analyst Weigh In

GOLD has been the topic of several recent research reports. Scotiabank dropped their price target on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, February 20th. Jefferies Financial Group initiated coverage on Barrick Gold in a report on Thursday, February 29th. They issued a “buy” rating and a $21.00 target price on the stock. CIBC decreased their price target on Barrick Gold from $27.00 to $23.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. StockNews.com raised shares of Barrick Gold from a “hold” rating to a “buy” rating in a research note on Wednesday, February 21st. Finally, Argus restated a “hold” rating on shares of Barrick Gold in a research note on Monday, February 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Barrick Gold has an average rating of “Moderate Buy” and an average price target of $20.06.

Barrick Gold Stock Performance

NYSE GOLD opened at $17.32 on Tuesday. The company has a quick ratio of 2.40, a current ratio of 3.16 and a debt-to-equity ratio of 0.15. Barrick Gold Corp has a fifty-two week low of $13.76 and a fifty-two week high of $20.75. The business has a fifty day moving average of $16.19 and a 200-day moving average of $16.34. The stock has a market cap of $30.41 billion, a price-to-earnings ratio of 24.06, a price-to-earnings-growth ratio of 1.50 and a beta of 0.58.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings results on Wednesday, February 14th. The gold and copper producer reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.06. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.13 billion. Barrick Gold had a return on equity of 4.64% and a net margin of 11.16%. During the same quarter in the prior year, the company posted $0.13 EPS. As a group, analysts predict that Barrick Gold Corp will post 0.95 earnings per share for the current fiscal year.

Barrick Gold Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a dividend of $0.074 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.30 annualized dividend and a yield of 1.71%. Barrick Gold’s dividend payout ratio is presently 55.56%.

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.