Cheviot Value Management LLC Has $14.70 Million Position in Barrick Gold Corp (NYSE:GOLD)

Cheviot Value Management LLC cut its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 18.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 739,227 shares of the gold and copper producer’s stock after selling 172,005 shares during the quarter. Barrick Gold comprises approximately 2.8% of Cheviot Value Management LLC’s investment portfolio, making the stock its 11th biggest position. Cheviot Value Management LLC’s holdings in Barrick Gold were worth $14,703,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. EdgePoint Investment Group Inc. raised its stake in Barrick Gold by 3.7% in the second quarter. EdgePoint Investment Group Inc. now owns 18,837,028 shares of the gold and copper producer’s stock valued at $314,254,000 after purchasing an additional 666,214 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Barrick Gold by 3.3% in the 2nd quarter. CIBC Asset Management Inc now owns 14,546,530 shares of the gold and copper producer’s stock valued at $242,491,000 after buying an additional 461,406 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Barrick Gold by 33.3% in the 3rd 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 buying an additional 2,854,055 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Barrick Gold by 221.1% during the 3rd 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 period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Barrick Gold by 16.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,471,407 shares of the gold and copper producer’s stock worth $124,635,000 after acquiring an additional 1,057,886 shares in the last quarter. 62.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on GOLD shares. Cibc World Mkts cut Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Jefferies Financial Group upped their price objective on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Berenberg Bank lifted their target price on Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Thursday, August 29th. Finally, Scotiabank decreased their price target on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a report on Monday, November 25th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.60.

Barrick Gold Trading Down 0.5 %

GOLD opened at $17.49 on Monday. The company’s 50 day moving average price is $19.20 and its two-hundred day moving average price is $18.55. The firm has a market capitalization of $30.57 billion, a price-to-earnings ratio of 18.81, a PEG ratio of 0.48 and a beta of 0.56. Barrick Gold Corp has a fifty-two week low of $13.76 and a fifty-two week high of $21.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06.

Barrick Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.29%. The ex-dividend date is Friday, November 29th. Barrick Gold’s dividend payout ratio is currently 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.