Mackenzie Financial Corp Sells 2,474,795 Shares of Barrick Gold Corp (NYSE:GOLD)

Mackenzie Financial Corp reduced its position in Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 14.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,556,115 shares of the gold and copper producer's stock after selling 2,474,795 shares during the period. Mackenzie Financial Corp owned approximately 0.83% of Barrick Gold worth $242,832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of GOLD. Edge Wealth Management LLC grew its stake in shares of Barrick Gold by 6.3% during the 1st quarter. Edge Wealth Management LLC now owns 12,255 shares of the gold and copper producer's stock valued at $204,000 after acquiring an additional 725 shares during the period. Greenleaf Trust boosted its position in shares of Barrick Gold by 3.5% in the first quarter. Greenleaf Trust now owns 25,119 shares of the gold and copper producer's stock worth $418,000 after purchasing an additional 838 shares during the period. DORCHESTER WEALTH MANAGEMENT Co increased its stake in shares of Barrick Gold by 2.4% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 36,519 shares of the gold and copper producer's stock worth $608,000 after purchasing an additional 850 shares in the last quarter. Bangor Savings Bank raised its position in shares of Barrick Gold by 4.4% during the 2nd quarter. Bangor Savings Bank now owns 21,445 shares of the gold and copper producer's stock valued at $358,000 after purchasing an additional 904 shares during the period. Finally, S.A. Mason LLC lifted its stake in shares of Barrick Gold by 3.5% during the 1st quarter. S.A. Mason LLC now owns 28,543 shares of the gold and copper producer's stock valued at $475,000 after buying an additional 973 shares in the last quarter. Institutional investors own 62.85% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on GOLD. CIBC boosted their price target on Barrick Gold from $23.00 to $27.00 and gave the stock an "outperformer" rating in a report on Wednesday, July 10th. Raymond James reduced their target price on Barrick Gold from $26.50 to $26.00 and set an "outperform" rating on the stock in a report on Thursday. Royal Bank of Canada increased their target price on Barrick Gold from $21.00 to $22.00 and gave the company an "outperform" rating in a research report on Tuesday, September 10th. Argus raised shares of Barrick Gold from a "hold" rating to a "buy" rating and set a $24.00 price target on the stock in a research note on Thursday, August 29th. Finally, Scotiabank increased their price objective on shares of Barrick Gold from $23.00 to $25.00 and gave the company a "sector outperform" rating in a research report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $23.60.

Barrick Gold Stock Performance

Shares of GOLD stock opened at $21.02 on Friday. Barrick Gold Corp has a 12-month low of $13.76 and a 12-month high of $21.21. The business's fifty day simple moving average is $19.30 and its 200-day simple moving average is $17.74. The company has a current ratio of 3.01, a quick ratio of 2.31 and a debt-to-equity ratio of 0.15. The company has a market cap of $36.84 billion, a PE ratio of 25.63, a PEG ratio of 0.49 and a beta of 0.55.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last issued its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.05. The business had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The company's revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.19 earnings per share. Analysts expect that Barrick Gold Corp will post 1.25 earnings per share for the current fiscal year.

Barrick Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Friday, August 30th. Barrick Gold's dividend payout ratio (DPR) is presently 48.78%.

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.

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