Contrarius Investment Management Ltd grew its stake in shares of Barrick Gold Corp (NYSE:ABX) (TSE:ABX) by 189.5% in the 4th quarter, Holdings Channel reports. The firm owned 4,294,265 shares of the basic materials company’s stock after acquiring an additional 2,810,960 shares during the quarter. Barrick Gold comprises approximately 3.5% of Contrarius Investment Management Ltd’s holdings, making the stock its 12th biggest position. Contrarius Investment Management Ltd’s holdings in Barrick Gold were worth $58,144,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the stock. Capital Investment Advisory Services LLC acquired a new stake in Barrick Gold in the fourth quarter worth approximately $68,000. Bristol Advisors LLC acquired a new stake in Barrick Gold in the fourth quarter worth approximately $507,000. Exane Derivatives acquired a new stake in Barrick Gold in the fourth quarter worth approximately $113,000. F&V Capital Management LLC acquired a new stake in Barrick Gold in the third quarter worth approximately $111,000. Finally, Pembroke Management LTD acquired a new stake in Barrick Gold in the fourth quarter worth approximately $194,000. 56.73% of the stock is owned by institutional investors and hedge funds.
NYSE ABX opened at $13.62 on Monday. Barrick Gold Corp has a 1-year low of $9.53 and a 1-year high of $15.52. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.42 and a current ratio of 2.65. The firm has a market capitalization of $15.90 billion, a PE ratio of 18.16, a P/E/G ratio of 14.29 and a beta of -0.54.
The business also recently declared a quarterly dividend, which was paid on Monday, January 14th. Stockholders of record on Friday, December 28th were paid a $0.07 dividend. The ex-dividend date of this dividend was Thursday, December 27th. This is an increase from Barrick Gold’s previous quarterly dividend of $0.03. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.06%. Barrick Gold’s dividend payout ratio is 37.33%.
A number of equities research analysts have weighed in on the company. Raymond James restated a “market perform” rating and issued a $15.00 target price on shares of Barrick Gold in a research report on Friday, October 26th. UBS Group set a $15.00 price objective on Barrick Gold and gave the company a “hold” rating in a research report on Monday, October 29th. Zacks Investment Research downgraded Barrick Gold from a “hold” rating to a “sell” rating in a research report on Wednesday, January 2nd. Jefferies Financial Group reiterated a “hold” rating and set a $14.00 price objective on shares of Barrick Gold in a research report on Wednesday, December 12th. Finally, Desjardins reiterated a “hold” rating on shares of Barrick Gold in a research report on Sunday, December 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $15.58.
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About Barrick Gold
Barrick Gold Corporation engages in the exploration and development of mineral properties. It primarily explores for gold and copper deposits. The company holds a 50% interest in the Veladero mine located in the San Juan Province of Argentina; 50% interest in the KCGM, a gold mine located in Australia; 95% interest in Porgera, a gold mine located in Papua New Guinea; 50% interest in the ZaldÃvar, a copper mine located in Chile; and 50% interest in the Jabal Sayid, a copper mine located in Saudi Arabia.
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