Barrick Gold Corp (NYSE:GOLD) Shares Sold by United Services Automobile Association

United Services Automobile Association reduced its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 8.1% during the 3rd quarter, Holdings Channel reports. The firm owned 58,794 shares of the gold and copper producer’s stock after selling 5,191 shares during the quarter. United Services Automobile Association’s holdings in Barrick Gold were worth $1,169,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Wellington Management Group LLP increased its stake in shares of Barrick Gold by 2.7% during the third 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 in the last quarter. EdgePoint Investment Group Inc. increased its stake in Barrick Gold by 3.7% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 18,837,028 shares of the gold and copper producer’s stock worth $314,254,000 after buying an additional 666,214 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Barrick Gold by 3.3% during 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 acquiring an additional 461,406 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Barrick Gold by 33.3% in 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 acquiring an additional 2,854,055 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Barrick Gold by 221.1% in the third 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 acquiring an additional 6,904,934 shares during the last quarter. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on GOLD shares. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Thursday, August 29th. Raymond James dropped their target price on Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Monday, November 25th. Berenberg Bank raised their price target on shares of Barrick Gold from $37.00 to $38.00 in a report on Tuesday, November 26th. Cibc World Mkts downgraded Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Finally, TD Securities lowered their price target on Barrick Gold from $26.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.60.

Barrick Gold Stock Performance

Shares of Barrick Gold stock opened at $16.77 on Friday. The stock has a market capitalization of $29.31 billion, a price-to-earnings ratio of 18.03, a price-to-earnings-growth ratio of 0.48 and a beta of 0.53. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06. The business has a 50-day moving average of $18.87 and a 200 day moving average of $18.52. Barrick Gold Corp has a 12 month low of $13.76 and a 12 month high of $21.35.

Barrick Gold Dividend Announcement

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 2.39%. The ex-dividend date is Friday, November 29th. Barrick Gold’s dividend payout ratio (DPR) is currently 43.01%.

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.