Mondrian Investment Partners LTD Sells 583,573 Shares of Barrick Gold Corp (NYSE:GOLD)

Mondrian Investment Partners LTD cut its stake in shares of Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 10.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,057,342 shares of the gold and copper producer's stock after selling 583,573 shares during the quarter. Mondrian Investment Partners LTD owned approximately 0.29% of Barrick Gold worth $82,789,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its position in Barrick Gold by 19.9% in the third quarter. Principal Financial Group Inc. now owns 483,613 shares of the gold and copper producer's stock valued at $9,630,000 after buying an additional 80,366 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Barrick Gold in the 3rd quarter worth approximately $444,000. Sumitomo Mitsui Trust Group Inc. grew its position in Barrick Gold by 4.6% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 149,305 shares of the gold and copper producer's stock worth $2,970,000 after acquiring an additional 6,499 shares during the last quarter. Zions Bancorporation N.A. grew its position in Barrick Gold by 7.0% during the 3rd quarter. Zions Bancorporation N.A. now owns 15,912 shares of the gold and copper producer's stock worth $316,000 after acquiring an additional 1,036 shares during the last quarter. Finally, Metis Global Partners LLC increased its holdings in Barrick Gold by 21.9% during the 3rd quarter. Metis Global Partners LLC now owns 138,232 shares of the gold and copper producer's stock valued at $2,749,000 after purchasing an additional 24,812 shares in the last quarter. Institutional investors and hedge funds own 62.85% of the company's stock.

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Wall Street Analysts Forecast Growth

Several analysts have recently commented on GOLD shares. Scotiabank increased their target price on Barrick Gold from $19.00 to $20.00 and gave the stock a "sector perform" rating in a report on Tuesday, February 18th. Citigroup decreased their price objective on shares of Barrick Gold from $23.00 to $17.00 and set a "neutral" rating on the stock in a report on Friday, December 20th. Cibc World Mkts downgraded shares of Barrick Gold from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 25th. Berenberg Bank increased their price target on shares of Barrick Gold from $37.00 to $38.00 in a research note on Tuesday, November 26th. Finally, CIBC lowered Barrick Gold from a "sector outperform" rating to a "neutral" rating in a research report on Monday, November 25th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $23.75.

Barrick Gold Stock Performance

NYSE:GOLD traded up $0.17 during mid-day trading on Tuesday, reaching $19.35. 28,656,850 shares of the company's stock were exchanged, compared to its average volume of 21,584,824. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89. The firm has a market capitalization of $33.39 billion, a PE ratio of 15.73, a price-to-earnings-growth ratio of 0.44 and a beta of 0.58. Barrick Gold Corp has a one year low of $0.25 and a one year high of $21.35. The business's fifty day simple moving average is $17.22 and its two-hundred day simple moving average is $18.05.

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

Barrick Gold Announces Dividend

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

Barrick Gold declared that its Board of Directors has approved a share buyback program on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the gold and copper producer to buy up to 3.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its shares are undervalued.

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.