Edge Wealth Management LLC Purchases 725 Shares of Barrick Gold Corp (NYSE:GOLD)

Edge Wealth Management LLC lifted its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 6.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,255 shares of the gold and copper producer’s stock after acquiring an additional 725 shares during the quarter. Edge Wealth Management LLC’s holdings in Barrick Gold were worth $204,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in GOLD. Addenda Capital Inc. lifted its stake in shares of Barrick Gold by 88.1% in the 4th quarter. Addenda Capital Inc. now owns 3,105,335 shares of the gold and copper producer’s stock valued at $56,176,000 after purchasing an additional 1,454,220 shares during the period. 1832 Asset Management L.P. boosted its holdings in Barrick Gold by 19.2% during the fourth quarter. 1832 Asset Management L.P. now owns 1,051,755 shares of the gold and copper producer’s stock worth $19,026,000 after buying an additional 169,350 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. acquired a new position in shares of Barrick Gold during the 4th quarter worth about $1,331,000. Corient Private Wealth LLC increased its stake in shares of Barrick Gold by 0.9% in the 4th quarter. Corient Private Wealth LLC now owns 123,651 shares of the gold and copper producer’s stock valued at $2,237,000 after acquiring an additional 1,066 shares during the last quarter. Finally, DAVENPORT & Co LLC raised its position in shares of Barrick Gold by 17.9% in the 4th quarter. DAVENPORT & Co LLC now owns 73,627 shares of the gold and copper producer’s stock valued at $1,332,000 after acquiring an additional 11,166 shares during the period. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Stock Up 0.5 %

GOLD traded up $0.09 during trading hours on Friday, hitting $16.93. 648,598 shares of the company’s stock were exchanged, compared to its average volume of 21,819,906. The company has a quick ratio of 2.49, a current ratio of 3.32 and a debt-to-equity ratio of 0.15. Barrick Gold Corp has a 1-year low of $13.76 and a 1-year high of $18.95. The stock’s 50-day moving average is $16.85 and its two-hundred day moving average is $16.48. The stock has a market cap of $29.72 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 0.48 and a beta of 0.59.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings data on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.04. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The company had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same quarter last year, the company earned $0.14 EPS. Barrick Gold’s revenue for the quarter was up 3.9% compared to the same quarter last year. Sell-side analysts predict that Barrick Gold Corp will post 1.06 earnings per share for the current fiscal year.

Barrick Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.36%. This is a boost from Barrick Gold’s previous quarterly dividend of $0.07. Barrick Gold’s dividend payout ratio is currently 48.78%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on GOLD shares. National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Barrick Gold in a research note on Monday, April 8th. Royal Bank of Canada restated an “outperform” rating and issued a $18.00 price target on shares of Barrick Gold in a report on Monday, March 4th. Jefferies Financial Group assumed coverage on Barrick Gold in a research note on Thursday, February 29th. They set a “buy” rating and a $21.00 target price for the company. Finally, BMO Capital Markets dropped their target price on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $21.60.

Barrick Gold 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.