Barrick Gold Corp (NYSE:GOLD) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 79.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,042,377 shares of the gold and copper producer's stock after selling 7,985,434 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.12% of Barrick Gold worth $31,630,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. First Horizon Advisors Inc. boosted its position in Barrick Gold by 619.7% during the fourth quarter. First Horizon Advisors Inc. now owns 3,073 shares of the gold and copper producer's stock worth $48,000 after purchasing an additional 2,646 shares in the last quarter. BNP Paribas raised its stake in shares of Barrick Gold by 221.7% during the 3rd quarter. BNP Paribas now owns 3,066 shares of the gold and copper producer's stock worth $62,000 after buying an additional 2,113 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Barrick Gold by 196.9% in the 4th quarter. Exchange Traded Concepts LLC now owns 4,178 shares of the gold and copper producer's stock worth $65,000 after buying an additional 2,771 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in Barrick Gold in the 4th quarter valued at about $65,000. Finally, Avior Wealth Management LLC increased its holdings in Barrick Gold by 24.1% during the 3rd quarter. Avior Wealth Management LLC now owns 3,399 shares of the gold and copper producer's stock valued at $68,000 after acquiring an additional 659 shares in the last quarter. Hedge funds and other institutional investors own 62.85% of the company's stock.

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Barrick Gold Trading Up 2.1 %

Shares of GOLD traded up $0.39 during mid-day trading on Thursday, hitting $18.73. The company had a trading volume of 30,290,211 shares, compared to its average volume of 23,761,162. Barrick Gold Corp has a 1-year low of $15.11 and a 1-year high of $21.35. The business's 50-day simple moving average is $17.09 and its 200-day simple moving average is $18.10. The stock has a market cap of $32.34 billion, a PE ratio of 15.22, a P/E/G ratio of 0.44 and a beta of 0.58. The company has a quick ratio of 2.15, a current ratio of 2.89 and a debt-to-equity ratio of 0.14.

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

Barrick Gold announced that its board has initiated a share buyback program on Wednesday, February 12th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the gold and copper producer to buy up to 3.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its shares are undervalued.

Barrick Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.14%. Barrick Gold's dividend payout ratio (DPR) is 32.52%.

Analyst Ratings Changes

Several analysts have recently commented on GOLD shares. TD Securities lowered their price target on shares of Barrick Gold from $24.00 to $23.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Scotiabank increased their target price on Barrick Gold from $19.00 to $20.00 and gave the company a "sector perform" rating in a report on Tuesday, February 18th. Cibc World Mkts cut Barrick Gold from a "strong-buy" rating to a "hold" rating in a report on Monday, November 25th. CIBC lowered Barrick Gold from a "sector outperform" rating to a "neutral" rating in a research note on Monday, November 25th. Finally, Berenberg Bank lifted their price objective on Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Barrick Gold presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.75.

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.