Fmr LLC Cuts Position in Barrick Gold Corp (NYSE:GOLD)

Fmr LLC decreased its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 16.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,409,915 shares of the gold and copper producer’s stock after selling 7,273,211 shares during the quarter. Fmr LLC’s holdings in Barrick Gold were worth $724,192,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in GOLD. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Barrick Gold by 221.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,027,811 shares of the gold and copper producer’s stock valued at $199,427,000 after buying an additional 6,904,934 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Barrick Gold by 4,713.3% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,144,456 shares of the gold and copper producer’s stock valued at $69,141,000 after buying an additional 4,058,351 shares during the last quarter. Letko Brosseau & Associates Inc. purchased a new stake in shares of Barrick Gold during the second quarter valued at approximately $66,820,000. The Manufacturers Life Insurance Company grew its holdings in shares of Barrick Gold by 33.3% during the third quarter. The Manufacturers Life Insurance Company now owns 11,431,497 shares of the gold and copper producer’s stock valued at $227,524,000 after buying an additional 2,854,055 shares during the last quarter. Finally, Mizuho Markets Americas LLC purchased a new stake in shares of Barrick Gold during the second quarter valued at approximately $31,768,000. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Berenberg Bank increased their price target on shares of Barrick Gold from $37.00 to $38.00 in a report on Tuesday. TD Securities dropped their target price on shares of Barrick Gold from $26.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday. Argus upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Thursday, August 29th. Scotiabank dropped their target price on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a report on Monday. Finally, Jefferies Financial Group raised 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. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $25.60.

Barrick Gold Trading Up 0.1 %

Shares of Barrick Gold stock opened at $17.57 on Friday. The company’s fifty day simple moving average is $19.26 and its 200-day simple moving average is $18.53. The stock has a market capitalization of $30.71 billion, a PE ratio of 18.89, a P/E/G ratio of 0.42 and a beta of 0.56. Barrick Gold Corp has a 1-year low of $13.76 and a 1-year high of $21.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06.

Barrick Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Friday, November 29th. Barrick Gold’s dividend payout ratio is presently 43.01%.

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.