Jeppson Wealth Management LLC Has $222,000 Position in Barrick Gold Corp (NYSE:GOLD)

Jeppson Wealth Management LLC reduced its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 5.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,173 shares of the gold and copper producer’s stock after selling 640 shares during the period. Jeppson Wealth Management LLC’s holdings in Barrick Gold were worth $222,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Clean Yield Group bought a new stake in shares of Barrick Gold in the first quarter valued at about $25,000. Exchange Traded Concepts LLC boosted its position in shares of Barrick Gold by 198.1% in the third quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock valued at $28,000 after acquiring an additional 935 shares during the period. Crewe Advisors LLC lifted its position in Barrick Gold by 628.8% during the second quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock worth $30,000 after purchasing an additional 1,572 shares during the period. Jackson Grant Investment Advisers Inc. bought a new stake in Barrick Gold during the second quarter worth about $32,000. Finally, Eastern Bank bought a new stake in Barrick Gold during the third quarter worth about $32,000. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Scotiabank cut their price objective on shares of Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating for the company in a research report on Friday. Royal Bank of Canada upped their price objective on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. UBS Group cut shares of Barrick Gold from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $23.00 to $22.00 in a report on Wednesday, October 30th. Jefferies Financial Group increased their target price on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Finally, Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Thursday, August 29th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Barrick Gold currently has an average rating of “Moderate Buy” and a consensus price target of $23.90.

Barrick Gold Stock Performance

NYSE:GOLD opened at $17.40 on Tuesday. The company has a market capitalization of $30.42 billion, a PE ratio of 18.71, a P/E/G ratio of 0.43 and a beta of 0.56. The company has a 50 day simple moving average of $19.95 and a two-hundred day simple moving average of $18.49. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.31 and a current ratio of 3.01. Barrick Gold Corp has a fifty-two week low of $13.76 and a fifty-two week high of $21.35.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.13 billion. Barrick Gold had a net margin of 13.19% and a return on equity of 5.85%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.19 EPS. Research analysts anticipate that Barrick Gold Corp will post 1.29 earnings per share for the current year.

Barrick Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Friday, November 29th. Barrick Gold’s payout ratio is 43.01%.

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.