Intact Investment Management Inc. Has $22.76 Million Stock Position in Barrick Gold Corp (NYSE:GOLD)

Intact Investment Management Inc. trimmed its position in shares of Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 40.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,468,020 shares of the gold and copper producer's stock after selling 1,008,990 shares during the quarter. Intact Investment Management Inc. owned approximately 0.08% of Barrick Gold worth $22,761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Van ECK Associates Corp boosted its position in Barrick Gold by 2.1% during the fourth quarter. Van ECK Associates Corp now owns 76,299,834 shares of the gold and copper producer's stock worth $1,182,641,000 after purchasing an additional 1,563,361 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Barrick Gold by 2.7% during the 3rd quarter. Wellington Management Group LLP now owns 54,712,508 shares of the gold and copper producer's stock worth $1,088,484,000 after buying an additional 1,458,084 shares during the period. Amundi grew its stake in Barrick Gold by 1.7% in the 4th quarter. Amundi now owns 14,120,278 shares of the gold and copper producer's stock valued at $223,665,000 after buying an additional 236,116 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in 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 buying an additional 2,854,055 shares during the last quarter. Finally, Ruffer LLP lifted its position in Barrick Gold by 14.8% during the 4th quarter. Ruffer LLP now owns 10,269,848 shares of the gold and copper producer's stock worth $159,180,000 after acquiring an additional 1,325,119 shares during the last quarter. Institutional investors own 62.85% of the company's stock.

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Barrick Gold Trading Up 0.9 %

Shares of Barrick Gold stock traded up $0.17 on Tuesday, hitting $19.35. The stock had a trading volume of 28,656,850 shares, compared to its average volume of 21,584,833. The stock has a 50 day moving average of $17.22 and a 200 day moving average of $18.05. The firm has a market capitalization of $33.39 billion, a P/E ratio of 15.73, a PEG ratio of 0.44 and a beta of 0.58. Barrick Gold Corp has a twelve month low of $0.25 and a twelve month high of $21.35. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last issued its quarterly earnings data on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.46. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. Sell-side analysts expect that Barrick Gold Corp will post 1.47 earnings per share for the current fiscal year.

Barrick Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Friday, February 28th. Barrick Gold's dividend payout ratio is currently 32.52%.

Barrick Gold declared that its board has initiated a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the gold and copper producer to buy up to 3.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

GOLD has been the topic of several research reports. Raymond James lowered their price target on Barrick Gold from $25.00 to $24.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Berenberg Bank boosted their price objective on Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. Cibc World Mkts cut Barrick Gold from a "strong-buy" rating to a "hold" rating in a research report on Monday, November 25th. Bank of America lowered shares of Barrick Gold from a "buy" rating to a "neutral" rating and lowered their price target for the company from $21.00 to $18.00 in a report on Monday, January 27th. Finally, TD Securities dropped their price objective on shares of Barrick Gold from $24.00 to $23.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.75.

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.