Barrick Gold Corp (NYSE:GOLD) is Ninety One SA PTY Ltd’s 4th Largest Position

Ninety One SA PTY Ltd raised its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 151.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,775,058 shares of the gold and copper producer’s stock after acquiring an additional 1,068,596 shares during the period. Barrick Gold makes up approximately 4.9% of Ninety One SA PTY Ltd’s holdings, making the stock its 4th biggest holding. Ninety One SA PTY Ltd owned 0.10% of Barrick Gold worth $32,111,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of GOLD. Wellington Management Group LLP lifted its holdings in shares of Barrick Gold by 35.0% during the third quarter. Wellington Management Group LLP now owns 63,551,991 shares of the gold and copper producer’s stock worth $925,121,000 after purchasing an additional 16,485,756 shares during the period. Vanguard Group Inc. lifted its stake in Barrick Gold by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 62,567,785 shares of the gold and copper producer’s stock valued at $910,361,000 after acquiring an additional 956,452 shares during the period. FMR LLC boosted its holdings in shares of Barrick Gold by 12.2% in the 3rd quarter. FMR LLC now owns 43,399,480 shares of the gold and copper producer’s stock valued at $631,228,000 after acquiring an additional 4,731,559 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Barrick Gold by 13.9% during the 1st quarter. BlackRock Inc. now owns 42,464,736 shares of the gold and copper producer’s stock worth $788,570,000 after acquiring an additional 5,188,456 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of Barrick Gold by 6.3% during the 4th quarter. Mackenzie Financial Corp now owns 21,129,740 shares of the gold and copper producer’s stock valued at $361,616,000 after acquiring an additional 1,254,531 shares during the period. 62.85% of the stock is owned by hedge funds and other institutional investors.

Barrick Gold Price Performance

GOLD traded up $0.22 on Thursday, reaching $16.92. 14,122,841 shares of the company’s stock were exchanged, compared to its average volume of 22,616,279. The stock has a market cap of $29.71 billion, a PE ratio of 23.19, a P/E/G ratio of 1.50 and a beta of 0.58. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.16 and a quick ratio of 2.40. Barrick Gold Corp has a twelve month low of $13.76 and a twelve month high of $20.75. The stock’s fifty day moving average price is $15.82 and its 200-day moving average price is $16.20.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its earnings results on Wednesday, February 14th. The gold and copper producer reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.06. Barrick Gold had a return on equity of 4.64% and a net margin of 11.16%. The business had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the previous year, the firm posted $0.13 EPS. Sell-side analysts expect that Barrick Gold Corp will post 0.91 EPS for the current year.

Barrick Gold Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a $0.074 dividend. This represents a $0.30 annualized dividend and a yield of 1.75%. The ex-dividend date was Wednesday, February 28th. Barrick Gold’s payout ratio is currently 55.56%.

Analysts Set New Price Targets

GOLD has been the topic of a number of recent analyst reports. CIBC lowered their price target on Barrick Gold from $27.00 to $23.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $18.00 target price on shares of Barrick Gold in a research report on Monday, March 4th. Argus reissued a “hold” rating on shares of Barrick Gold in a research note on Monday, February 26th. National Bank Financial restated a “sector perform overweight” rating on shares of Barrick Gold in a research report on Monday, April 8th. Finally, Sanford C. Bernstein downgraded shares of Barrick Gold from an “outperform” rating to a “market perform” rating in a report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.18.

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.