Canada Pension Plan Investment Board Has $100.74 Million Stake in Barrick Gold Corp (NYSE:GOLD)

Canada Pension Plan Investment Board trimmed its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,040,365 shares of the gold and copper producer’s stock after selling 6,741 shares during the period. Canada Pension Plan Investment Board owned about 0.34% of Barrick Gold worth $100,735,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Principal Securities Inc. acquired a new stake in shares of Barrick Gold during the 4th quarter worth about $26,000. Vanguard Personalized Indexing Management LLC raised its stake in shares of Barrick Gold by 31.4% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 34,633 shares of the gold and copper producer’s stock valued at $627,000 after acquiring an additional 8,276 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Barrick Gold by 7.7% in the 4th quarter. D.A. Davidson & CO. now owns 61,777 shares of the gold and copper producer’s stock worth $1,118,000 after acquiring an additional 4,427 shares in the last quarter. Corient Private Wealth LLC grew its position in Barrick Gold by 0.9% during the 4th quarter. Corient Private Wealth LLC now owns 123,651 shares of the gold and copper producer’s stock worth $2,237,000 after acquiring an additional 1,066 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Barrick Gold by 175.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock valued at $32,000 after purchasing an additional 1,143 shares in the last quarter. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GOLD. Scotiabank increased their target price on Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Argus upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Thursday, August 29th. Jefferies Financial Group upped their target price on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. CIBC raised their price target on shares of Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Finally, Royal Bank of Canada upped their price objective on Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $23.30.

Barrick Gold Price Performance

Shares of GOLD opened at $20.39 on Friday. The stock has a market cap of $35.74 billion, a P/E ratio of 24.87, a price-to-earnings-growth ratio of 0.49 and a beta of 0.55. Barrick Gold Corp has a 1 year low of $13.76 and a 1 year high of $21.13. The stock’s 50-day moving average price is $19.20 and its two-hundred day moving average price is $17.62. The company has a current ratio of 3.01, a quick ratio of 2.49 and a debt-to-equity ratio of 0.15.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.19 earnings per share. On average, equities analysts predict that Barrick Gold Corp will post 1.22 earnings per share for the current year.

Barrick Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Friday, August 30th. Barrick Gold’s dividend payout ratio is currently 48.78%.

Barrick Gold 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.