Rockefeller Capital Management L.P. Has $9.11 Million Stock Position in Barrick Gold Corp (NYSE:GOLD)

Rockefeller Capital Management L.P. lessened its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 6.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 458,163 shares of the gold and copper producer’s stock after selling 34,209 shares during the period. Rockefeller Capital Management L.P.’s holdings in Barrick Gold were worth $9,113,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. EdgePoint Investment Group Inc. raised its position in 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 valued at $314,254,000 after buying an additional 666,214 shares during the period. CIBC Asset Management Inc grew its stake 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 acquiring an additional 461,406 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings 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 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 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 purchasing an additional 6,904,934 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings 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 worth $124,635,000 after purchasing an additional 1,057,886 shares during the period. 62.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GOLD. Jefferies Financial Group upped their price objective on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Scotiabank cut their price objective on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a report on Monday, November 25th. UBS Group lowered Barrick Gold from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $23.00 to $22.00 in a research report on Wednesday, October 30th. Raymond James reduced their price target on Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Monday, November 25th. Finally, Cibc World Mkts downgraded Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. Four investment 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.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $25.60.

Barrick Gold Trading Up 2.3 %

Shares of GOLD stock opened at $17.61 on Wednesday. Barrick Gold Corp has a 12 month low of $13.76 and a 12 month high of $21.35. The company has a market cap of $30.78 billion, a PE ratio of 18.94, a price-to-earnings-growth ratio of 0.47 and a beta of 0.53. The company has a quick ratio of 2.06, a current ratio of 2.65 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $19.08 and its two-hundred day moving average is $18.54.

Barrick Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a yield of 2.27%. Barrick Gold’s payout ratio is presently 43.01%.

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.