Barrick Gold Corp (NYSE:GOLD) Shares Sold by Mondrian Investment Partners LTD

Mondrian Investment Partners LTD decreased its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 10.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,057,342 shares of the gold and copper producer’s stock after selling 583,573 shares during the quarter. Mondrian Investment Partners LTD owned about 0.29% of Barrick Gold worth $82,789,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its holdings in shares of Barrick Gold by 2.1% during the 4th quarter. Van ECK Associates Corp now owns 76,299,834 shares of the gold and copper producer’s stock worth $1,182,641,000 after purchasing an additional 1,563,361 shares during the period. Wellington Management Group LLP grew its holdings in shares of Barrick Gold by 2.7% during the 3rd quarter. Wellington Management Group LLP now owns 54,712,508 shares of the gold and copper producer’s stock worth $1,088,484,000 after purchasing an additional 1,458,084 shares during the period. Amundi grew its holdings in shares of Barrick Gold by 1.7% during the 4th quarter. Amundi now owns 14,120,278 shares of the gold and copper producer’s stock worth $223,665,000 after purchasing an additional 236,116 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Barrick Gold by 33.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,431,497 shares of the gold and copper producer’s stock worth $227,524,000 after purchasing an additional 2,854,055 shares during the period. Finally, Ruffer LLP grew its holdings in shares of Barrick Gold by 14.8% during the 4th quarter. Ruffer LLP now owns 10,269,848 shares of the gold and copper producer’s stock worth $159,180,000 after purchasing an additional 1,325,119 shares during the period. Institutional investors and hedge funds own 62.85% of the company’s stock.

Wall Street Analysts Forecast Growth

GOLD has been the subject of a number of research reports. CIBC cut Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday, November 25th. Berenberg Bank upped their price target on Barrick Gold from $37.00 to $38.00 in a report on Tuesday, November 26th. Raymond James decreased their price target on Barrick Gold from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, February 7th. UBS Group upgraded Barrick Gold from a “neutral” rating to a “buy” rating and set a $22.00 price target for the company in a report on Wednesday, March 5th. Finally, Cibc World Mkts cut Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $23.75.

Barrick Gold Price Performance

Shares of NYSE GOLD opened at $18.73 on Friday. Barrick Gold Corp has a 1-year low of $15.11 and a 1-year high of $21.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15. The business’s fifty day moving average price is $17.09 and its two-hundred day moving average price is $18.10. The firm has a market capitalization of $32.34 billion, a PE ratio of 15.22, a P/E/G ratio of 0.44 and a beta of 0.58.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 EPS for the quarter, meeting analysts’ consensus estimates of $0.46. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. On average, research analysts expect that Barrick Gold Corp will post 1.47 EPS for the current year.

Barrick Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th 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 2.14%. The ex-dividend date of this dividend is Friday, February 28th. Barrick Gold’s dividend payout ratio (DPR) is 32.52%.

Barrick Gold declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 12th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the gold and copper producer to purchase up to 3.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

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.