West Family Investments Inc. Cuts Stock Position in Barrick Gold Corp (NYSE:GOLD)

West Family Investments Inc. trimmed its holdings in Barrick Gold Corp (NYSE:GOLDGet Rating) (TSE:ABX) by 0.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 374,468 shares of the gold and copper producer’s stock after selling 1,030 shares during the period. Barrick Gold comprises about 2.6% of West Family Investments Inc.’s holdings, making the stock its 3rd largest position. West Family Investments Inc.’s holdings in Barrick Gold were worth $9,186,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Barrick Gold by 2.5% in the first quarter. Vanguard Group Inc. now owns 56,601,028 shares of the gold and copper producer’s stock valued at $1,388,423,000 after buying an additional 1,379,254 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of Barrick Gold by 2.8% in the fourth quarter. Mackenzie Financial Corp now owns 16,628,115 shares of the gold and copper producer’s stock valued at $316,156,000 after purchasing an additional 449,136 shares during the last quarter. Capital International Investors raised its holdings in shares of Barrick Gold by 0.4% in the fourth quarter. Capital International Investors now owns 16,321,923 shares of the gold and copper producer’s stock valued at $310,117,000 after purchasing an additional 63,070 shares during the last quarter. TD Asset Management Inc. raised its holdings in shares of Barrick Gold by 2.8% in the first quarter. TD Asset Management Inc. now owns 14,472,343 shares of the gold and copper producer’s stock valued at $355,247,000 after purchasing an additional 392,805 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Barrick Gold by 61.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,689,798 shares of the gold and copper producer’s stock valued at $262,092,000 after purchasing an additional 4,053,826 shares during the last quarter. 58.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GOLD has been the subject of several analyst reports. Fundamental Research reiterated a “buy” rating and issued a $23.42 target price on shares of Barrick Gold in a report on Tuesday, August 16th. Stifel Nicolaus decreased their price objective on shares of Barrick Gold from C$41.00 to C$35.25 in a report on Wednesday, July 20th. TheStreet downgraded shares of Barrick Gold from a “b-” rating to a “c+” rating in a report on Friday, July 29th. Barclays decreased their price objective on shares of Barrick Gold from $28.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday, July 19th. Finally, BMO Capital Markets raised their price objective on shares of Barrick Gold from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Tuesday, August 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $28.97.

Barrick Gold Price Performance

GOLD stock opened at $15.61 on Friday. Barrick Gold Corp has a 12 month low of $14.53 and a 12 month high of $26.07. The firm has a market capitalization of $27.64 billion, a P/E ratio of 13.81, a price-to-earnings-growth ratio of 7.23 and a beta of 0.33. The company has a current ratio of 3.95, a quick ratio of 3.19 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average of $16.00 and a 200-day moving average of $20.17.

Barrick Gold (NYSE:GOLDGet Rating) (TSE:ABX) last announced its earnings results on Monday, August 8th. The gold and copper producer reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.02. Barrick Gold had a net margin of 16.87% and a return on equity of 5.95%. The business had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same period in the previous year, the business posted $0.29 earnings per share. Barrick Gold’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, sell-side analysts predict that Barrick Gold Corp will post 1.02 earnings per share for the current fiscal year.

Barrick Gold Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be given a dividend of $0.156 per share. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $0.62 annualized dividend and a yield of 4.00%. Barrick Gold’s payout ratio is presently 35.40%.

About Barrick Gold

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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.

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Institutional Ownership by Quarter for Barrick Gold (NYSE:GOLD)

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