Moors & Cabot Inc. Boosts Stock Position in Barrick Gold Corp (NYSE:GOLD)

Moors & Cabot Inc. grew its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 0.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 64,085 shares of the gold and copper producer’s stock after purchasing an additional 579 shares during the quarter. Moors & Cabot Inc.’s holdings in Barrick Gold were worth $1,275,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Barrick Gold by 221.1% during 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 period. EdgePoint Investment Group Inc. raised its holdings in shares of Barrick Gold by 38.8% during 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 acquiring an additional 5,080,510 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings 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 valued at $69,141,000 after purchasing an additional 4,058,351 shares during the last quarter. Letko Brosseau & Associates Inc. purchased a new stake in Barrick Gold in the 2nd quarter valued at about $66,820,000. Finally, Mizuho Markets Americas LLC purchased a new position in shares of Barrick Gold during the second quarter worth $31,768,000. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Gold Stock Performance

Shares of GOLD opened at $18.12 on Friday. Barrick Gold Corp has a one year low of $13.76 and a one year high of $21.35. The stock has a 50-day moving average of $19.53 and a 200-day moving average of $18.49. 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 company has a market cap of $31.67 billion, a PE ratio of 19.48, a P/E/G ratio of 0.42 and a beta of 0.56.

Barrick Gold Announces Dividend

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 paid a dividend of $0.10 per share. The ex-dividend date is Friday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 2.21%. Barrick Gold’s payout ratio is currently 43.01%.

Analysts Set New Price Targets

Several research firms recently commented on GOLD. Raymond James dropped their target price on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a report on Thursday, September 26th. TD Securities cut their target price on shares of Barrick Gold from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, November 8th. UBS Group downgraded Barrick Gold from a “buy” rating to a “neutral” rating and cut their price target for the company from $23.00 to $22.00 in a report on Wednesday, October 30th. Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Thursday, August 29th. Finally, Royal Bank of Canada boosted their price objective on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Barrick Gold currently has an average rating of “Moderate Buy” and an average target price of $23.90.

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.