Axxcess Wealth Management LLC Has $2.26 Million Stock Holdings in Barrick Gold Corp (NYSE:GOLD)

Axxcess Wealth Management LLC reduced its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 1.8% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 135,865 shares of the gold and copper producer’s stock after selling 2,512 shares during the period. Axxcess Wealth Management LLC’s holdings in Barrick Gold were worth $2,261,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of GOLD. Principal Securities Inc. bought a new stake in shares of Barrick Gold during the fourth quarter worth $26,000. EverSource Wealth Advisors LLC increased its holdings in Barrick Gold by 175.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock worth $32,000 after purchasing an additional 1,143 shares in the last quarter. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Barrick Gold in the 4th quarter valued at about $45,000. Optiver Holding B.V. bought a new stake in shares of Barrick Gold in the fourth quarter valued at about $46,000. Finally, Bruce G. Allen Investments LLC boosted its position in shares of Barrick Gold by 82.4% during the first quarter. Bruce G. Allen Investments LLC now owns 3,504 shares of the gold and copper producer’s stock worth $58,000 after buying an additional 1,583 shares during the period. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Stock Performance

Shares of GOLD stock traded up $0.07 on Friday, reaching $17.79. The stock had a trading volume of 20,354,168 shares, compared to its average volume of 21,840,373. Barrick Gold Corp has a 12 month low of $13.76 and a 12 month high of $19.45. The firm has a market capitalization of $31.18 billion, a price-to-earnings ratio of 21.84, a P/E/G ratio of 0.49 and a beta of 0.51. The firm’s 50-day moving average is $17.26 and its two-hundred day moving average is $16.51. 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 (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The firm had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter in the previous year, the business earned $0.14 earnings per share. The business’s revenue was up 3.9% compared to the same quarter last year. On average, research analysts expect that Barrick Gold Corp will post 1.16 EPS for the current fiscal year.

Barrick Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were issued a dividend of $0.10 per share. This is an increase from Barrick Gold’s previous quarterly dividend of $0.07. The ex-dividend date was Friday, May 31st. This represents a $0.40 annualized dividend and a yield of 2.25%. Barrick Gold’s dividend payout ratio (DPR) is currently 48.78%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. CIBC lifted their target price on Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. BMO Capital Markets lowered their price objective 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. Jefferies Financial Group increased their target price on shares of Barrick Gold from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Finally, National Bank Financial reiterated a “sector perform overweight” rating on shares of Barrick Gold in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $22.20.

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.