Dynamic Technology Lab Private Ltd Takes Position in Barrick Gold Corp (NYSE:GOLD)

Dynamic Technology Lab Private Ltd bought a new stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 86,783 shares of the gold and copper producer’s stock, valued at approximately $1,726,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. raised 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 valued at $199,427,000 after acquiring an additional 6,904,934 shares during the period. EdgePoint Investment Group Inc. raised its position in Barrick Gold by 38.8% in the 1st quarter. EdgePoint Investment Group Inc. now owns 18,170,814 shares of the gold and copper producer’s stock worth $302,366,000 after purchasing an additional 5,080,510 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Barrick Gold by 4,713.3% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,144,456 shares of the gold and copper producer’s stock worth $69,141,000 after purchasing an additional 4,058,351 shares during the period. Letko Brosseau & Associates Inc. bought a new stake in Barrick Gold in the second quarter worth about $66,820,000. Finally, Mizuho Markets Americas LLC purchased a new position 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.

Barrick Gold Price Performance

NYSE GOLD opened at $17.69 on Tuesday. The company has a market cap of $30.92 billion, a PE ratio of 19.02, a P/E/G ratio of 0.43 and a beta of 0.56. The firm’s 50 day moving average price is $19.42 and its 200-day moving average price is $18.53. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.06 and a current ratio of 2.65. Barrick Gold Corp has a 52-week low of $13.76 and a 52-week high of $21.35.

Barrick Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.10 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.26%. Barrick Gold’s dividend payout ratio is presently 43.01%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. CIBC lowered Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday. Raymond James decreased their target price on Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a research report on Monday. Scotiabank lowered their target price on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a research note on Monday. TD Securities decreased their price objective on shares of Barrick Gold from $27.00 to $26.00 and set a “buy” rating for the company in a report on Friday, November 8th. Finally, Jefferies Financial Group upped their target price on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.70.

Barrick Gold 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.