BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Purchases New Position in Barrick Gold Corp (ABX)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in Barrick Gold Corp (TSE:ABX) (NYSE:ABX) in the first quarter, HoldingsChannel.com reports. The institutional investor purchased 3,678,675 shares of the basic materials company’s stock, valued at approximately $67,393,000.

Other hedge funds have also recently made changes to their positions in the company. Hudock Capital Group LLC raised its position in shares of Barrick Gold by 23.2% in the first quarter. Hudock Capital Group LLC now owns 3,336 shares of the basic materials company’s stock valued at $45,000 after purchasing an additional 628 shares during the period. Cornerstone Advisors Inc. raised its position in shares of Barrick Gold by 48.7% in the first quarter. Cornerstone Advisors Inc. now owns 2,433 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 797 shares during the period. Cullen Frost Bankers Inc. raised its position in shares of Barrick Gold by 2.7% in the first quarter. Cullen Frost Bankers Inc. now owns 34,419 shares of the basic materials company’s stock valued at $472,000 after purchasing an additional 919 shares during the period. Rothschild Investment Corp IL raised its position in shares of Barrick Gold by 2.7% in the first quarter. Rothschild Investment Corp IL now owns 37,525 shares of the basic materials company’s stock valued at $514,000 after purchasing an additional 1,000 shares during the period. Finally, CWM LLC raised its position in shares of Barrick Gold by 100.1% in the first quarter. CWM LLC now owns 2,698 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 1,350 shares during the period.

Several equities analysts have recently weighed in on the stock. Desjardins raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a C$22.00 price objective on the stock in a research report on Wednesday, March 13th. Canaccord Genuity lowered their price target on shares of Barrick Gold from C$19.00 to C$18.00 in a research report on Tuesday, April 23rd. Haywood Securities raised their price target on shares of Barrick Gold from C$18.00 to C$19.00 in a research report on Thursday, February 14th. Finally, GMP Securities reaffirmed a “hold” rating and set a C$17.15 price target on shares of Barrick Gold in a research report on Wednesday, February 27th.

TSE:ABX opened at C$16.45 on Tuesday. Barrick Gold Corp has a 52 week low of C$12.54 and a 52 week high of C$19.49. The stock has a market cap of $28.82 billion and a P/E ratio of -13.49. The company has a debt-to-equity ratio of 31.73, a quick ratio of 1.28 and a current ratio of 2.46.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be given a dividend of $0.054 per share. This represents a $0.22 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend is Thursday, May 30th. Barrick Gold’s dividend payout ratio is -13.13%.

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Barrick Gold Company Profile

Barrick Gold Corporation explores for and develops mineral properties. The company primarily explores for gold, copper, and silver deposits. It holds a 50% interest in the Veladero, a gold mine located in Argentina; 50% interest in the Kalgoorlie gold mine located in Australia; 95% interest in the Porgera gold mine located in Papua New Guinea; 50% interest in the Zaldívar, a copper mine located in Chile; and 50% interest in the Jabal Sayid copper mine located in Saudi Arabia.

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Institutional Ownership by Quarter for Barrick Gold (TSE:ABX)

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