Barrick Gold Corp (NYSE:B) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp raised its holdings in Barrick Gold Corp (NYSE:B - Free Report) TSE: ABX by 1.9% during the 4th quarter, according to the company in 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 quarter. Mackenzie Financial Corp owned 0.89% of Barrick Gold worth $237,280,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its stake in Barrick Gold by 2.1% in the 4th quarter. Van ECK Associates Corp now owns 76,299,834 shares of the gold and copper producer's stock valued at $1,182,641,000 after buying an additional 1,563,361 shares in the last quarter. Vanguard Group Inc. lifted its stake in Barrick Gold by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 68,358,533 shares of the gold and copper producer's stock valued at $1,060,036,000 after buying an additional 1,195,585 shares in the last quarter. Wellington Management Group LLP lifted its stake in Barrick Gold by 17.5% in 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 buying an additional 9,598,292 shares in the last quarter. Capital International Investors lifted its stake in 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 in the last quarter. Finally, Amundi lifted its stake in Barrick Gold by 1.7% in the 4th quarter. Amundi now owns 14,120,278 shares of the gold and copper producer's stock valued at $223,665,000 after buying an additional 236,116 shares in the last quarter. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Gold Stock Performance

Shares of B stock traded up $0.02 during mid-day trading on Thursday, hitting $19.04. 5,812,909 shares of the stock were exchanged, compared to its average volume of 22,689,352. The stock's fifty day simple moving average is $19.01 and its two-hundred day simple moving average is $17.75. 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 12-month low of $15.11 and a 12-month high of $21.35. The stock has a market capitalization of $32.73 billion, a price-to-earnings ratio of 15.48, a P/E/G ratio of 0.44 and a beta of 0.25.

Barrick Gold (NYSE:B - Get Free Report) TSE: ABX last released its quarterly earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.06. The firm 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 quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 EPS. On average, analysts forecast that Barrick Gold Corp will post 1.47 EPS for the current year.

Barrick Gold declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the gold and copper producer to purchase up to 3.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its stock is undervalued.

Barrick Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a $0.10 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.40 annualized dividend and a yield of 2.10%. Barrick Gold's dividend payout ratio (DPR) is 30.08%.

Analyst Ratings Changes

A number of research analysts recently weighed in on B shares. Wall Street Zen started coverage on shares of Barrick Gold in a research note on Monday, May 12th. They issued a "sell" rating on the stock. Royal Bank of Canada increased their price objective on shares of Barrick Gold from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Friday, April 4th. BMO Capital Markets began coverage on shares of Barrick Gold in a report on Wednesday, April 16th. They issued a "market perform" rating for the company. TD Securities cut their price objective on shares of Barrick Gold from $24.00 to $23.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Finally, Raymond James increased their price objective on shares of Barrick Gold from $23.00 to $23.50 and gave the company an "outperform" rating in a report on Monday, March 31st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Barrick Gold has an average rating of "Moderate Buy" and an average price target of $24.05.

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.