Barrick Gold Corp (NYSE:GOLD) Shares Sold by MML Investors Services LLC

MML Investors Services LLC decreased its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 3.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 26,080 shares of the gold and copper producer’s stock after selling 961 shares during the quarter. MML Investors Services LLC’s holdings in Barrick Gold were worth $519,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Wellington Management Group LLP grew its stake in Barrick Gold by 2.7% during the 3rd quarter. Wellington Management Group LLP now owns 54,712,508 shares of the gold and copper producer’s stock worth $1,088,484,000 after purchasing an additional 1,458,084 shares in the last quarter. EdgePoint Investment Group Inc. grew 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 worth $314,254,000 after buying an additional 666,214 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of Barrick Gold by 3.3% during the second quarter. CIBC Asset Management Inc now owns 14,546,530 shares of the gold and copper producer’s stock worth $242,491,000 after buying an additional 461,406 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Barrick Gold by 33.3% in the third 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 acquiring an additional 2,854,055 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in Barrick Gold by 221.1% in the third 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 during the last quarter. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Barrick Gold Price Performance

Shares of GOLD opened at $15.46 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.06 and a current ratio of 2.65. Barrick Gold Corp has a fifty-two week low of $13.76 and a fifty-two week high of $21.35. The firm has a 50-day simple moving average of $18.17 and a 200-day simple moving average of $18.48. The company has a market capitalization of $26.92 billion, a price-to-earnings ratio of 16.62, a price-to-earnings-growth ratio of 0.47 and a beta of 0.53.

Barrick Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 2.59%. Barrick Gold’s dividend payout ratio (DPR) is currently 43.01%.

Analyst Ratings Changes

GOLD has been the topic of a number of analyst reports. Raymond James reduced their price objective on shares of Barrick Gold from $26.00 to $25.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. Cibc World Mkts downgraded Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. Berenberg Bank increased their price objective on Barrick Gold from $37.00 to $38.00 in a report on Tuesday, November 26th. Citigroup decreased their target price on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday. Finally, UBS Group cut shares of Barrick Gold from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $23.00 to $22.00 in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Barrick Gold currently has an average rating of “Moderate Buy” and an average price target of $24.82.

Barrick Gold 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.