Barrick Gold Corp (NYSE:GOLD) Shares Sold by Cadinha & Co. LLC

Cadinha & Co. LLC reduced its stake in Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 79.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,633 shares of the gold and copper producer's stock after selling 64,567 shares during the period. Cadinha & Co. LLC's holdings in Barrick Gold were worth $258,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Wellington Management Group LLP increased its stake in shares of Barrick Gold by 2.7% during the third quarter. Wellington Management Group LLP now owns 54,712,508 shares of the gold and copper producer's stock valued at $1,088,484,000 after buying an additional 1,458,084 shares during the period. EdgePoint Investment Group Inc. lifted its position in shares of Barrick Gold by 3.7% during the second quarter. EdgePoint Investment Group Inc. now owns 18,837,028 shares of the gold and copper producer's stock valued at $314,254,000 after buying an additional 666,214 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Barrick Gold by 221.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,027,811 shares of the gold and copper producer's stock worth $199,427,000 after acquiring an additional 6,904,934 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Barrick Gold by 9.5% during the third quarter. Geode Capital Management LLC now owns 8,047,255 shares of the gold and copper producer's stock valued at $162,140,000 after acquiring an additional 696,556 shares during the last quarter. 62.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GOLD. Berenberg Bank lifted their price target on shares of Barrick Gold from $37.00 to $38.00 in a report on Tuesday, November 26th. Cibc World Mkts cut Barrick Gold from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 25th. Citigroup lowered their price target on Barrick Gold from $23.00 to $17.00 and set a "neutral" rating for the company in a report on Friday, December 20th. Raymond James decreased their price objective on shares of Barrick Gold from $26.00 to $25.00 and set an "outperform" rating for the company in a research report on Monday, November 25th. Finally, UBS Group downgraded shares of Barrick Gold from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $23.00 to $22.00 in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Barrick Gold presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.82.

Barrick Gold Stock Performance

GOLD traded up $0.25 during midday trading on Friday, hitting $16.00. 15,270,538 shares of the company were exchanged, compared to its average volume of 14,353,890. The firm has a market capitalization of $27.62 billion, a price-to-earnings ratio of 17.20, a price-to-earnings-growth ratio of 0.28 and a beta of 0.54. The company's 50 day simple moving average is $16.52 and its 200 day simple moving average is $18.36. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14. Barrick Gold Corp has a 1-year low of $13.76 and a 1-year high of $21.35.

Barrick Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend was Friday, November 29th. Barrick Gold's payout ratio is presently 43.01%.

Barrick Gold Company 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.