Centiva Capital LP Sells 22,740 Shares of Barrick Gold Corp (NYSE:GOLD)

Centiva Capital LP reduced its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 20.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,166 shares of the gold and copper producer’s stock after selling 22,740 shares during the period. Centiva Capital LP’s holdings in Barrick Gold were worth $1,793,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. EdgePoint Investment Group Inc. raised its holdings in shares of 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 acquiring an additional 666,214 shares in the last quarter. CIBC Asset Management Inc increased its position in Barrick Gold by 3.3% during 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 purchasing an additional 461,406 shares during the period. The Manufacturers Life Insurance Company lifted 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 worth $227,524,000 after purchasing an additional 2,854,055 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Barrick Gold by 221.1% in 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 purchasing an additional 6,904,934 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Barrick Gold by 16.5% during the second quarter. Dimensional Fund Advisors LP now owns 7,471,407 shares of the gold and copper producer’s stock valued at $124,635,000 after purchasing an additional 1,057,886 shares in the last quarter. 62.85% of the stock is owned by hedge funds and other institutional investors.

Barrick Gold Trading Up 2.3 %

NYSE GOLD opened at $17.61 on Wednesday. The company has a fifty day moving average of $19.08 and a 200 day moving average of $18.54. The company has a market capitalization of $30.78 billion, a PE ratio of 18.94, a P/E/G ratio of 0.47 and a beta of 0.53. 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 Corp has a 1 year low of $13.76 and a 1 year high of $21.35.

Barrick Gold Dividend Announcement

The business also recently declared 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 2.27%. The ex-dividend date is Friday, November 29th. Barrick Gold’s dividend payout ratio is currently 43.01%.

Wall Street Analysts Forecast Growth

GOLD has been the subject of a number of analyst reports. TD Securities lowered their target price on Barrick Gold from $26.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Thursday, August 29th. Royal Bank of Canada boosted their target price on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. UBS Group downgraded 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 research report on Wednesday, October 30th. Finally, Raymond James decreased their target price on shares of Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a research report on Monday, November 25th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.60.

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.