CM Management LLC Has $1.01 Million Holdings in Barrick Gold Corp (NYSE:GOLD)

CM Management LLC increased its holdings in Barrick Gold Corp (NYSE:GOLDGet Rating) (TSE:ABX) by 550.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,000 shares of the gold and copper producer’s stock after acquiring an additional 55,000 shares during the period. CM Management LLC’s holdings in Barrick Gold were worth $1,008,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in GOLD. Fairfield Bush & CO. acquired a new stake in shares of Barrick Gold in the 1st quarter worth about $42,000. Acadian Asset Management LLC purchased a new stake in Barrick Gold in the 1st quarter valued at about $647,000. Blair William & Co. IL increased its stake in Barrick Gold by 288.8% in the 1st quarter. Blair William & Co. IL now owns 90,896 shares of the gold and copper producer’s stock valued at $2,230,000 after buying an additional 67,516 shares during the last quarter. Sei Investments Co. increased its stake in Barrick Gold by 97.2% in the 1st quarter. Sei Investments Co. now owns 230,278 shares of the gold and copper producer’s stock valued at $5,651,000 after buying an additional 113,486 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its stake in Barrick Gold by 17.7% in the 1st quarter. Allianz Asset Management GmbH now owns 1,007,571 shares of the gold and copper producer’s stock valued at $24,620,000 after buying an additional 151,763 shares during the last quarter. Institutional investors and hedge funds own 56.82% of the company’s stock.

Barrick Gold Stock Up 1.0 %

GOLD opened at $19.42 on Wednesday. The company has a 50 day moving average of $17.42 and a 200 day moving average of $16.16. The company has a market cap of $34.09 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 11.73 and a beta of 0.28. Barrick Gold Corp has a 12 month low of $13.01 and a 12 month high of $26.07. The company has a current ratio of 3.76, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.

Barrick Gold (NYSE:GOLDGet Rating) (TSE:ABX) last released its quarterly earnings data on Thursday, November 3rd. The gold and copper producer reported $0.13 EPS for the quarter, topping the consensus estimate of $0.11 by $0.02. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $3.09 billion. Barrick Gold had a net margin of 16.39% and a return on equity of 5.34%. On average, sell-side analysts expect that Barrick Gold Corp will post 0.76 EPS for the current year.

Barrick Gold Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 2.27%. The ex-dividend date was Tuesday, November 29th. Barrick Gold’s payout ratio is 37.38%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. TD Securities decreased their price objective on shares of Barrick Gold from $24.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, November 4th. Barclays decreased their price target on shares of Barrick Gold from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, November 21st. Stifel Nicolaus decreased their price target on shares of Barrick Gold from C$35.25 to C$33.00 in a research note on Wednesday, October 19th. Royal Bank of Canada decreased their price target on shares of Barrick Gold from $27.00 to $20.00 and set an “outperform” rating for the company in a research note on Monday, November 21st. Finally, Fundamental Research restated a “buy” rating and set a $19.90 price target (down previously from $23.42) on shares of Barrick Gold in a research note on Tuesday, November 15th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Barrick Gold presently has an average rating of “Moderate Buy” and a consensus price target of $23.99.

Barrick Gold Company Profile

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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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Institutional Ownership by Quarter for Barrick Gold (NYSE:GOLD)

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