Mackenzie Financial Corp Has $339.52 Million Stake in Barrick Gold Corp (NYSE:GOLD)

Mackenzie Financial Corp raised its position in shares of Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 4.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,783,046 shares of the gold and copper producer's stock after purchasing an additional 787,829 shares during the period. Mackenzie Financial Corp owned about 1.07% of Barrick Gold worth $339,524,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP increased its position in shares of Barrick Gold by 35.0% in the 3rd quarter. Wellington Management Group LLP now owns 63,551,991 shares of the gold and copper producer's stock valued at $925,121,000 after acquiring an additional 16,485,756 shares during the period. Vanguard Group Inc. raised its stake in shares of Barrick Gold by 1.6% in the third quarter. Vanguard Group Inc. now owns 62,567,785 shares of the gold and copper producer's stock worth $910,361,000 after purchasing an additional 956,452 shares during the last quarter. FMR LLC raised its stake in shares of Barrick Gold by 12.2% during the 3rd quarter. FMR LLC now owns 43,399,480 shares of the gold and copper producer's stock valued at $631,228,000 after buying an additional 4,731,559 shares during the last quarter. BlackRock Inc. lifted its position in shares of Barrick Gold by 13.9% in the first quarter. BlackRock Inc. now owns 42,464,736 shares of the gold and copper producer's stock valued at $788,570,000 after acquiring an additional 5,188,456 shares in the last quarter. Finally, Bank of Nova Scotia increased its position in Barrick Gold by 0.4% during the third quarter. Bank of Nova Scotia now owns 15,249,848 shares of the gold and copper producer's stock worth $221,520,000 after buying an additional 65,953 shares during the period. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Gold Stock Performance

NYSE GOLD traded down $0.49 on Monday, hitting $17.37. The stock had a trading volume of 32,813,699 shares, compared to its average volume of 22,331,840. The company's 50-day moving average is $15.75 and its two-hundred day moving average is $16.18. Barrick Gold Corp has a one year low of $13.76 and a one year high of $20.75. The stock has a market cap of $30.50 billion, a price-to-earnings ratio of 24.13, a P/E/G ratio of 1.63 and a beta of 0.58. The company has a quick ratio of 2.40, a current ratio of 3.16 and a debt-to-equity ratio of 0.15.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last issued its quarterly earnings results on Wednesday, February 14th. The gold and copper producer reported $0.27 EPS for the quarter, beating analysts' consensus estimates of $0.21 by $0.06. Barrick Gold had a return on equity of 4.64% and a net margin of 11.16%. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same period last year, the company earned $0.13 earnings per share. On average, analysts expect that Barrick Gold Corp will post 0.91 earnings per share for the current year.

Barrick Gold Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a $0.074 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Wednesday, February 28th. Barrick Gold's payout ratio is 55.56%.

Analysts Set New Price Targets

GOLD has been the subject of several analyst reports. BMO Capital Markets cut their price target on Barrick Gold from $26.00 to $24.00 and set an "outperform" rating for the company in a report on Thursday, February 15th. StockNews.com raised shares of Barrick Gold from a "hold" rating to a "buy" rating in a research note on Wednesday, February 21st. Sanford C. Bernstein cut Barrick Gold from an "outperform" rating to a "market perform" rating in a report on Monday, January 8th. CIBC decreased their price objective on shares of Barrick Gold from $27.00 to $23.00 and set an "outperform" rating for the company in a research note on Wednesday, February 7th. Finally, Jefferies Financial Group started coverage on shares of Barrick Gold in a research report on Thursday, February 29th. They set a "buy" rating and a $21.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $22.05.

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.