Daiwa Securities Group Inc. Takes $477,000 Position in Barrick Gold Corp (NYSE:GOLD)

Daiwa Securities Group Inc. acquired a new position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 24,000 shares of the gold and copper producer’s stock, valued at approximately $477,000.

Several other large investors also recently made changes to their positions in GOLD. EdgePoint Investment Group Inc. raised 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 during the period. CIBC Asset Management Inc increased 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of 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 purchasing an additional 6,904,934 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Barrick Gold by 16.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,471,407 shares of the gold and copper producer’s stock worth $124,635,000 after purchasing an additional 1,057,886 shares in the last quarter. Finally, Mondrian Investment Partners LTD grew its position in Barrick Gold by 1.5% in the 2nd quarter. Mondrian Investment Partners LTD now owns 5,975,918 shares of the gold and copper producer’s stock valued at $110,614,000 after purchasing an additional 88,008 shares during the period. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on GOLD shares. Cibc World Mkts lowered shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Berenberg Bank raised their price target on shares of Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. UBS Group lowered Barrick Gold from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $23.00 to $22.00 in a report on Wednesday, October 30th. Jefferies Financial Group raised their target price on Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a report on Friday, September 13th. Finally, Raymond James decreased their price target on Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Monday, November 25th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.60.

Barrick Gold Trading Up 0.1 %

Shares of Barrick Gold stock opened at $17.49 on Friday. The firm has a market cap of $30.57 billion, a PE ratio of 18.81, a P/E/G ratio of 0.48 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. 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 stock has a fifty day moving average price of $19.20 and a 200-day moving average price of $18.54.

Barrick Gold Announces Dividend

The business 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 dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a yield of 2.29%. Barrick Gold’s dividend payout ratio (DPR) is presently 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.