Cheviot Value Management LLC Sells 172,005 Shares of Barrick Gold Corp (NYSE:GOLD)

Cheviot Value Management LLC trimmed its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 18.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 739,227 shares of the gold and copper producer’s stock after selling 172,005 shares during the period. Barrick Gold makes up approximately 2.8% of Cheviot Value Management LLC’s investment portfolio, making the stock its 11th largest holding. Cheviot Value Management LLC’s holdings in Barrick Gold were worth $14,703,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of GOLD. EdgePoint Investment Group Inc. increased its stake in Barrick Gold by 3.7% in the 2nd 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 last quarter. CIBC Asset Management Inc grew its holdings in shares of Barrick Gold by 3.3% in 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 position in shares of Barrick Gold by 33.3% in the third 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 acquiring an additional 2,854,055 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Barrick Gold by 221.1% during 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 acquiring an additional 6,904,934 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Barrick Gold by 16.5% in the second quarter. Dimensional Fund Advisors LP now owns 7,471,407 shares of the gold and copper producer’s stock valued at $124,635,000 after purchasing an additional 1,057,886 shares in the last quarter. 62.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GOLD has been the topic of a number of analyst reports. UBS Group cut Barrick Gold from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $23.00 to $22.00 in a research note on Wednesday, October 30th. TD Securities cut their price target on shares of Barrick Gold from $26.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Raymond James lowered their price objective on shares of Barrick Gold from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. Argus upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Thursday, August 29th. Finally, Jefferies Financial Group boosted their price target on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $25.60.

Barrick Gold Stock Performance

GOLD opened at $17.49 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06. The business has a fifty day simple moving average of $19.20 and a 200 day simple moving average of $18.55. Barrick Gold Corp has a 1 year low of $13.76 and a 1 year high of $21.35. The company has a market capitalization of $30.57 billion, a PE ratio of 18.81, a price-to-earnings-growth ratio of 0.48 and a beta of 0.56.

Barrick Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Friday, November 29th. Barrick Gold’s dividend payout ratio is 43.01%.

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.