Mackenzie Financial Corp Acquires 278,292 Shares of Barrick Gold Corp (NYSE:B)

Mackenzie Financial Corp lifted its stake in shares of Barrick Gold Corp (NYSE:B - Free Report) TSE: ABX by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,318,376 shares of the gold and copper producer's stock after purchasing an additional 278,292 shares during the period. Mackenzie Financial Corp owned about 0.89% of Barrick Gold worth $237,280,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in B. Capital International Investors boosted its holdings in shares of Barrick Gold by 136.1% in the 4th quarter. Capital International Investors now owns 33,293,792 shares of the gold and copper producer's stock valued at $516,055,000 after buying an additional 19,189,830 shares during the period. Causeway Capital Management LLC bought a new stake in shares of Barrick Gold in the 4th quarter worth approximately $172,225,000. Wellington Management Group LLP boosted its position in Barrick Gold by 17.5% during the 4th quarter. Wellington Management Group LLP now owns 64,310,800 shares of the gold and copper producer's stock valued at $996,802,000 after purchasing an additional 9,598,292 shares during the period. FIL Ltd increased its position in Barrick Gold by 236.7% in the fourth quarter. FIL Ltd now owns 6,815,946 shares of the gold and copper producer's stock worth $105,692,000 after buying an additional 4,791,663 shares during the period. Finally, Capital International Inc. CA bought a new stake in Barrick Gold in the fourth quarter valued at $57,991,000. Institutional investors and hedge funds own 90.82% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on B. BMO Capital Markets started coverage on shares of Barrick Gold in a research report on Wednesday, April 16th. They set a "market perform" rating for the company. TD Securities lowered their price target on Barrick Gold from $24.00 to $23.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Raymond James boosted their target price on shares of Barrick Gold from $23.00 to $23.50 and gave the stock an "outperform" rating in a report on Monday, March 31st. National Bankshares restated an "outperform" rating on shares of Barrick Gold in a report on Wednesday, April 2nd. Finally, UBS Group lifted their price objective on shares of Barrick Gold from $22.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $24.05.

Barrick Gold Stock Down 0.8%

Shares of NYSE B traded down $0.16 during mid-day trading on Tuesday, reaching $18.91. 11,563,512 shares of the company traded hands, compared to its average volume of 1,609,811. The company's fifty day moving average is $19.02 and its two-hundred day moving average is $17.73. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89. Barrick Gold Corp has a fifty-two week low of $17.41 and a fifty-two week high of $47.50. The stock has a market cap of $32.51 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 0.44 and a beta of 0.25.

Barrick Gold (NYSE:B - Get Free Report) TSE: ABX last issued its quarterly earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.06. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.15 billion. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. The firm's revenue was up 13.9% compared to the same quarter last year. During the same period last year, the business posted $0.19 earnings per share. On average, analysts expect that Barrick Gold Corp will post 1.47 earnings per share for the current year.

Barrick Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Friday, May 30th. Barrick Gold's payout ratio is currently 30.08%.

Barrick Gold declared that its board has initiated a stock repurchase program on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the gold and copper producer to reacquire up to 3.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.

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.