Mountain Lake Investment Management LLC grew its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 7.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 350,000 shares of the gold and copper producer’s stock after acquiring an additional 25,000 shares during the quarter. Barrick Gold comprises approximately 3.9% of Mountain Lake Investment Management LLC’s investment portfolio, making the stock its 11th largest holding. Mountain Lake Investment Management LLC’s holdings in Barrick Gold were worth $6,930,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of GOLD. Stifel Financial Corp lifted its position in shares of Barrick Gold by 17.8% during the 4th quarter. Stifel Financial Corp now owns 533,742 shares of the gold and copper producer’s stock valued at $12,159,000 after buying an additional 80,626 shares in the last quarter. ExodusPoint Capital Management LP acquired a new position in Barrick Gold in the 4th quarter valued at $2,305,000. Engineers Gate Manager LP raised its stake in Barrick Gold by 184.2% in the 4th quarter. Engineers Gate Manager LP now owns 101,100 shares of the gold and copper producer’s stock valued at $2,303,000 after purchasing an additional 65,531 shares during the last quarter. Schroder Investment Management Group raised its stake in Barrick Gold by 8.0% in the 4th quarter. Schroder Investment Management Group now owns 1,505,187 shares of the gold and copper producer’s stock valued at $35,650,000 after purchasing an additional 111,401 shares during the last quarter. Finally, Laidlaw Wealth Management LLC acquired a new position in Barrick Gold in the 4th quarter valued at $217,000. Hedge funds and other institutional investors own 54.51% of the company’s stock.
Shares of NYSE:GOLD traded down $0.08 during trading on Thursday, reaching $20.82. The company had a trading volume of 455,988 shares, compared to its average volume of 12,537,045. The company has a market cap of $37.03 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 8.44 and a beta of 0.30. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.77 and a quick ratio of 3.01. The firm’s fifty day moving average price is $22.41. Barrick Gold Corp has a fifty-two week low of $18.64 and a fifty-two week high of $31.22.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 15th. Investors of record on Friday, May 28th were paid a $0.09 dividend. The ex-dividend date of this dividend was Thursday, May 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.73%. Barrick Gold’s dividend payout ratio (DPR) is presently 14.78%.
GOLD has been the subject of a number of recent research reports. Raymond James set a $30.00 target price on Barrick Gold and gave the stock an “outperform” rating in a research note on Friday, July 16th. TheStreet raised Barrick Gold from a “c” rating to a “b-” rating in a research note on Thursday, April 22nd. National Bank Financial cut their target price on Barrick Gold from C$39.00 to C$38.00 and set an “outperform” rating for the company in a research note on Friday, July 16th. JPMorgan Chase & Co. lowered their price target on Barrick Gold from $30.00 to $25.00 in a report on Tuesday, April 27th. Finally, Fundamental Research increased their price target on Barrick Gold from $69.96 to $72.72 and gave the stock a “buy” rating in a report on Monday, May 10th. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $33.03.
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.
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