Mackenzie Financial Corp Decreases Position in Barrick Gold Corp (ABX)
Mackenzie Financial Corp reduced its stake in Barrick Gold Corp (NYSE:ABX) (TSE:ABX) by 15.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,671,065 shares of the basic materials company’s stock after selling 488,459 shares during the period. Mackenzie Financial Corp’s holdings in Barrick Gold were worth $38,650,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Stifel Financial Corp increased its stake in shares of Barrick Gold by 135.5% during the third quarter. Stifel Financial Corp now owns 234,370 shares of the basic materials company’s stock valued at $3,772,000 after purchasing an additional 134,836 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Barrick Gold during the third quarter valued at approximately $406,000. Ameriprise Financial Inc. increased its stake in shares of Barrick Gold by 28.2% during the second quarter. Ameriprise Financial Inc. now owns 58,507 shares of the basic materials company’s stock valued at $931,000 after purchasing an additional 12,852 shares in the last quarter. Flossbach Von Storch AG increased its stake in shares of Barrick Gold by 8.1% during the third quarter. Flossbach Von Storch AG now owns 28,677,838 shares of the basic materials company’s stock valued at $461,427,000 after purchasing an additional 2,148,150 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its stake in shares of Barrick Gold by 1.6% during the third quarter. First Eagle Investment Management LLC now owns 35,354,891 shares of the basic materials company’s stock valued at $568,860,000 after purchasing an additional 546,654 shares in the last quarter. 54.53% of the stock is owned by institutional investors.
Shares of Barrick Gold Corp (ABX) opened at $11.54 on Friday. The firm has a market cap of $13,327.14, a P/E ratio of 9.38, a P/E/G ratio of 6.54 and a beta of -0.13. The company has a current ratio of 2.68, a quick ratio of 1.60 and a debt-to-equity ratio of 0.58. Barrick Gold Corp has a 1 year low of $11.07 and a 1 year high of $20.36.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 28th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Tuesday, February 27th. Barrick Gold’s dividend payout ratio is currently 9.76%.
A number of equities analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Barrick Gold from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Morgan Stanley decreased their target price on shares of Barrick Gold from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Wednesday. TD Securities decreased their target price on shares of Barrick Gold from $20.00 to $17.00 and set a “hold” rating for the company in a research note on Monday, November 6th. Credit Suisse Group reaffirmed a “hold” rating and set a $19.00 target price on shares of Barrick Gold in a research note on Thursday, January 18th. Finally, Citigroup set a $11.00 target price on shares of Barrick Gold and gave the company a “sell” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $17.38.
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Barrick Gold Company Profile
Barrick Gold Corporation (Barrick) is a gold mining company. The Company is principally engaged in the production and sale of gold and copper, as well as related activities, such as exploration and mine development. The Company’s segments include Goldstrike, Cortez, Pueblo Viejo, Lagunas Norte, Veladero, Turquoise Ridge, Acacia Mining plc (Acacia), Pascua-Lama and Other Mines.
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