CIBC Asset Management Inc Reduces Position in Barrick Gold Corp (NYSE:GOLD)

CIBC Asset Management Inc decreased its position in Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 4.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,943,623 shares of the gold and copper producer's stock after selling 602,907 shares during the period. Barrick Gold makes up approximately 0.9% of CIBC Asset Management Inc's holdings, making the stock its 28th biggest position. CIBC Asset Management Inc owned 0.80% of Barrick Gold worth $278,072,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Clean Yield Group purchased a new stake in shares of Barrick Gold during the first quarter valued at $25,000. Exchange Traded Concepts LLC raised its stake in Barrick Gold by 198.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer's stock valued at $28,000 after buying an additional 935 shares during the last quarter. Crewe Advisors LLC grew its holdings in shares of Barrick Gold by 628.8% in the second quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer's stock worth $30,000 after acquiring an additional 1,572 shares during the period. Jackson Grant Investment Advisers Inc. purchased a new stake in Barrick Gold during the second quarter valued at $32,000. Finally, Eastern Bank bought a new stake in shares of Barrick Gold during the 3rd quarter valued at about $32,000. 62.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GOLD has been the topic of a number of recent research reports. Scotiabank decreased their target price on Barrick Gold from $25.00 to $24.00 and set a "sector outperform" rating on the stock in a report on Friday, November 8th. UBS Group cut Barrick Gold from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $23.00 to $22.00 in a research report on Wednesday, October 30th. Raymond James decreased their target price on shares of Barrick Gold from $26.50 to $26.00 and set an "outperform" rating on the stock in a research note on Thursday, September 26th. TD Securities dropped their price target on shares of Barrick Gold from $27.00 to $26.00 and set a "buy" rating for the company in a research report on Friday, November 8th. Finally, Royal Bank of Canada upped their target price on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 10th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $23.90.

Barrick Gold Stock Down 1.4 %

GOLD stock traded down $0.24 during trading on Friday, reaching $16.61. 14,095,700 shares of the company traded hands, compared to its average volume of 21,399,195. The business has a 50 day simple moving average of $19.74 and a 200 day simple moving average of $18.46. Barrick Gold Corp has a 12 month low of $13.76 and a 12 month high of $21.35. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.06 and a current ratio of 2.65. The company has a market capitalization of $29.04 billion, a price-to-earnings ratio of 18.01, a price-to-earnings-growth ratio of 0.40 and a beta of 0.56.

Barrick Gold (NYSE:GOLD - Get Free Report) 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, topping analysts' consensus estimates of $0.27 by $0.05. The firm had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. Barrick Gold had a net margin of 13.19% and a return on equity of 5.82%. The company's quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.19 EPS. On average, equities research analysts anticipate that Barrick Gold Corp will post 1.29 earnings per share for the current fiscal year.

Barrick Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 2.41%. Barrick Gold's dividend payout ratio is presently 43.01%.

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.