Advisors Asset Management Inc. Buys 1,159 Shares of Barrick Gold Corp (NYSE:GOLD)

Advisors Asset Management Inc. raised its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 2.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 57,896 shares of the gold and copper producer’s stock after buying an additional 1,159 shares during the period. Advisors Asset Management Inc.’s holdings in Barrick Gold were worth $1,152,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. EdgePoint Investment Group Inc. lifted its stake in shares of Barrick Gold by 3.7% in the second quarter. EdgePoint Investment Group Inc. now owns 18,837,028 shares of the gold and copper producer’s stock worth $314,254,000 after acquiring an additional 666,214 shares during the period. CIBC Asset Management Inc lifted its position in shares of Barrick Gold by 3.3% in the 2nd quarter. CIBC Asset Management Inc now owns 14,546,530 shares of the gold and copper producer’s stock worth $242,491,000 after purchasing an additional 461,406 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Barrick Gold by 221.1% in the 3rd 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 purchasing an additional 6,904,934 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Barrick Gold by 16.5% during the second quarter. Dimensional Fund Advisors LP now owns 7,471,407 shares of the gold and copper producer’s stock worth $124,635,000 after buying an additional 1,057,886 shares during the period. Finally, Mondrian Investment Partners LTD raised its stake in Barrick Gold by 1.5% during the second quarter. Mondrian Investment Partners LTD now owns 5,975,918 shares of the gold and copper producer’s stock worth $110,614,000 after buying an additional 88,008 shares during the last quarter. Institutional investors and hedge funds own 62.85% of the company’s stock.

Wall Street Analyst Weigh In

GOLD has been the topic of a number of research analyst reports. TD Securities cut their price target on shares of Barrick Gold from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. 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. Scotiabank cut their price target on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a report on Monday. UBS Group downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $23.00 to $22.00 in a research report on Wednesday, October 30th. Finally, CIBC lowered shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.70.

Barrick Gold Stock Down 2.9 %

Barrick Gold stock opened at $17.69 on Tuesday. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14. The firm’s fifty day moving average price is $19.42 and its two-hundred day moving average price is $18.53. The firm has a market capitalization of $30.92 billion, a price-to-earnings ratio of 19.02, a price-to-earnings-growth ratio of 0.43 and a beta of 0.56. Barrick Gold Corp has a 1-year low of $13.76 and a 1-year high of $21.35.

Barrick Gold Dividend Announcement

The business 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 $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Friday, November 29th. Barrick Gold’s dividend payout ratio (DPR) is presently 43.01%.

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.