The Manufacturers Life Insurance Company Has $227.52 Million Position in Barrick Gold Corp (NYSE:GOLD)

The Manufacturers Life Insurance Company boosted its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 33.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,431,497 shares of the gold and copper producer’s stock after buying an additional 2,854,055 shares during the period. The Manufacturers Life Insurance Company’s holdings in Barrick Gold were worth $227,524,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in GOLD. DCF Advisers LLC grew its holdings in Barrick Gold by 48.3% during the second quarter. DCF Advisers LLC now owns 107,500 shares of the gold and copper producer’s stock worth $1,793,000 after buying an additional 35,000 shares in the last quarter. Mizuho Markets Americas LLC boosted its holdings in Barrick Gold by 21.7% during the 3rd quarter. Mizuho Markets Americas LLC now owns 2,317,580 shares of the gold and copper producer’s stock worth $46,097,000 after acquiring an additional 413,012 shares during the last quarter. Entropy Technologies LP bought a new stake in shares of Barrick Gold in the 3rd quarter worth $3,711,000. Aigen Investment Management LP raised its holdings in shares of Barrick Gold by 330.5% in the third quarter. Aigen Investment Management LP now owns 99,240 shares of the gold and copper producer’s stock valued at $1,974,000 after purchasing an additional 76,186 shares during the last quarter. Finally, Evexia Wealth LLC bought a new position in shares of Barrick Gold during the third quarter valued at about $2,382,000. 62.85% of the stock is owned by institutional investors.

Barrick Gold Price Performance

GOLD opened at $17.69 on Tuesday. The company has a market capitalization of $30.92 billion, a price-to-earnings ratio of 19.02, a PEG ratio of 0.43 and a beta of 0.56. The company has a quick ratio of 2.06, a current ratio of 2.65 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of $19.42 and a 200-day moving average price of $18.53. Barrick Gold Corp has a twelve month low of $13.76 and a twelve month high of $21.35.

Barrick Gold Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a yield of 2.26%. Barrick Gold’s payout ratio is 43.01%.

Wall Street Analysts Forecast Growth

GOLD has been the subject of a number of recent analyst reports. Scotiabank reduced 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 research report on Monday. Jefferies Financial Group upped their target price on Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a report on Friday, September 13th. CIBC lowered Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday. UBS Group lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and reduced their price target for the company from $23.00 to $22.00 in a research report on Wednesday, October 30th. Finally, TD Securities lowered their price objective on shares of Barrick Gold from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Barrick Gold currently has an average rating of “Moderate Buy” and an average target price of $23.70.

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.