Qsemble Capital Management LP Lowers Position in Barrick Gold Corp (NYSE:GOLD)

Qsemble Capital Management LP cut its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 32.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 72,491 shares of the gold and copper producer’s stock after selling 34,167 shares during the period. Qsemble Capital Management LP’s holdings in Barrick Gold were worth $1,442,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GOLD. EdgePoint Investment Group Inc. raised its stake in Barrick Gold by 3.7% in the second quarter. EdgePoint Investment Group Inc. now owns 18,837,028 shares of the gold and copper producer’s stock valued at $314,254,000 after buying an additional 666,214 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in Barrick Gold by 3.3% in the second quarter. CIBC Asset Management Inc now owns 14,546,530 shares of the gold and copper producer’s stock valued at $242,491,000 after purchasing an additional 461,406 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Barrick Gold by 221.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,027,811 shares of the gold and copper producer’s stock worth $199,427,000 after purchasing an additional 6,904,934 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Barrick Gold by 16.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,471,407 shares of the gold and copper producer’s stock valued at $124,635,000 after buying an additional 1,057,886 shares during the last quarter. Finally, Mondrian Investment Partners LTD lifted its holdings in shares of Barrick Gold by 1.5% in the 2nd quarter. Mondrian Investment Partners LTD now owns 5,975,918 shares of the gold and copper producer’s stock valued at $110,614,000 after buying an additional 88,008 shares during the period. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GOLD. Royal Bank of Canada lifted their price target on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. UBS Group lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and dropped their price target for the company from $23.00 to $22.00 in a research report on Wednesday, October 30th. Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Thursday, August 29th. TD Securities dropped their price target on Barrick Gold from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Finally, Scotiabank cut their price objective on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a report on Monday. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Barrick Gold presently has an average rating of “Moderate Buy” and a consensus target price of $23.70.

Barrick Gold Price Performance

GOLD stock opened at $17.69 on Tuesday. The business’s fifty day moving average price is $19.42 and its 200 day moving average price is $18.53. Barrick Gold Corp has a 12-month low of $13.76 and a 12-month high of $21.35. The company has a market capitalization of $30.92 billion, a PE ratio of 19.02, a P/E/G ratio of 0.43 and a beta of 0.56. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14.

Barrick Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Friday, November 29th. Barrick Gold’s dividend payout ratio (DPR) is currently 43.01%.

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.