Hedges Asset Management LLC Buys 8,800 Shares of Barrick Gold Corp (NYSE:GOLD)

Hedges Asset Management LLC boosted its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 22.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,300 shares of the gold and copper producer’s stock after buying an additional 8,800 shares during the quarter. Hedges Asset Management LLC’s holdings in Barrick Gold were worth $749,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in Barrick Gold by 2.7% in the third quarter. Wellington Management Group LLP now owns 54,712,508 shares of the gold and copper producer’s stock valued at $1,088,484,000 after buying an additional 1,458,084 shares during the period. EdgePoint Investment Group Inc. raised its position in shares of Barrick Gold by 3.7% in 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 acquiring an additional 666,214 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake 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 valued at $227,524,000 after purchasing an additional 2,854,055 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Barrick Gold by 221.1% during 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 in the last quarter. Finally, Geode Capital Management LLC grew its stake in Barrick Gold by 9.5% during the third quarter. Geode Capital Management LLC now owns 8,047,255 shares of the gold and copper producer’s stock worth $162,140,000 after purchasing an additional 696,556 shares during the period. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Stock Down 0.0 %

Shares of NYSE:GOLD opened at $15.77 on Friday. The stock has a market cap of $27.23 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 0.31 and a beta of 0.54. The business’s 50 day moving average is $16.45 and its 200 day moving average is $18.33. Barrick Gold Corp has a 12-month low of $13.76 and a 12-month high of $21.35. The company has a quick ratio of 2.06, a current ratio of 2.65 and a debt-to-equity ratio of 0.14.

Barrick Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a $0.10 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 2.54%. Barrick Gold’s payout ratio is 43.01%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. CIBC cut Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday, November 25th. Berenberg Bank increased their target price on shares of Barrick Gold from $37.00 to $38.00 in a research note on Tuesday, November 26th. TD Securities decreased their price target on shares of Barrick Gold from $26.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Citigroup cut their price objective on shares of Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Finally, 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, November 25th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Barrick Gold presently has an average rating of “Moderate Buy” and a consensus price target of $24.45.

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.