Investment Management Corp of Ontario Sells 79,400 Shares of Barrick Gold Corp (NYSE:GOLD)

Investment Management Corp of Ontario lessened its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 8.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 840,149 shares of the gold and copper producer’s stock after selling 79,400 shares during the period. Investment Management Corp of Ontario’s holdings in Barrick Gold were worth $16,711,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of GOLD. B. Riley Wealth Advisors Inc. boosted its position in shares of Barrick Gold by 10.7% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 12,895 shares of the gold and copper producer’s stock worth $215,000 after purchasing an additional 1,244 shares in the last quarter. Tidal Investments LLC raised its stake in shares of Barrick Gold by 20.4% during the 1st quarter. Tidal Investments LLC now owns 39,196 shares of the gold and copper producer’s stock worth $637,000 after acquiring an additional 6,639 shares in the last quarter. Cetera Investment Advisers raised its position in Barrick Gold by 783.2% during the 1st quarter. Cetera Investment Advisers now owns 341,854 shares of the gold and copper producer’s stock worth $5,688,000 after buying an additional 303,148 shares during the last quarter. Cetera Advisors LLC raised its position in Barrick Gold by 103.4% during the first quarter. Cetera Advisors LLC now owns 45,087 shares of the gold and copper producer’s stock worth $750,000 after acquiring an additional 22,921 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Barrick Gold by 4.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 146,833 shares of the gold and copper producer’s stock valued at $2,405,000 after purchasing an additional 5,646 shares during the period. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Barrick Gold Trading Down 1.4 %

Shares of GOLD opened at $17.24 on Tuesday. The business’s 50-day moving average price is $19.14 and its 200-day moving average price is $18.54. The stock has a market cap of $30.14 billion, a PE ratio of 18.54, a P/E/G ratio of 0.48 and a beta of 0.53. The company has a quick ratio of 2.06, a current ratio of 2.65 and a debt-to-equity ratio of 0.14. Barrick Gold Corp has a twelve month low of $13.76 and a twelve month high of $21.35.

Barrick Gold Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.32%. Barrick Gold’s dividend payout ratio is presently 43.01%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GOLD shares. TD Securities cut their price target on Barrick Gold from $26.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Royal Bank of Canada raised their price objective on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Berenberg Bank increased their target price on Barrick Gold from $37.00 to $38.00 in a research note on Tuesday, November 26th. Scotiabank lowered 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 research note on Monday, November 25th. Finally, Raymond James reduced their price target on Barrick Gold from $26.00 to $25.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.60.

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.