Quantinno Capital Management LP Raises Holdings in Barrick Gold Corp (NYSE:GOLD)

Quantinno Capital Management LP increased its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 7.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 65,185 shares of the gold and copper producer’s stock after purchasing an additional 4,554 shares during the quarter. Quantinno Capital Management LP’s holdings in Barrick Gold were worth $1,297,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. boosted 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 buying an additional 6,904,934 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake 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 buying an additional 4,058,351 shares in the last quarter. Letko Brosseau & Associates Inc. purchased a new position in shares of Barrick Gold during the 2nd quarter worth $66,820,000. The Manufacturers Life Insurance Company raised its position in shares of Barrick Gold by 33.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,431,497 shares of the gold and copper producer’s stock worth $227,524,000 after buying an additional 2,854,055 shares during the period. Finally, Mizuho Markets Americas LLC acquired a new stake in Barrick Gold in the 2nd quarter valued at $31,768,000. Institutional investors and hedge funds own 62.85% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on GOLD. Royal Bank of Canada raised their target price 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. Scotiabank lowered their price objective on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a research report on Monday, November 25th. Berenberg Bank lifted their target price on shares of Barrick Gold from $37.00 to $38.00 in a research note on Tuesday, November 26th. Jefferies Financial Group lifted their target price on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Finally, UBS Group downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $23.00 to $22.00 in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Barrick Gold presently has a consensus rating of “Moderate Buy” and an average target price of $25.60.

Barrick Gold Price Performance

Shares of NYSE:GOLD opened at $17.17 on Friday. Barrick Gold Corp has a fifty-two week low of $13.76 and a fifty-two week high of $21.35. The firm has a market cap of $30.01 billion, a price-to-earnings ratio of 18.56, a price-to-earnings-growth ratio of 0.46 and a beta of 0.53. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.06 and a current ratio of 2.65. The business has a 50-day simple moving average of $18.70 and a two-hundred day simple moving average of $18.53.

Barrick Gold Announces Dividend

The business also recently declared 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 is Friday, November 29th. This represents a $0.40 annualized dividend and a yield of 2.33%. Barrick Gold’s payout ratio 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.