OppenheimerFunds Inc. lifted its position in shares of Barrick Gold Corp (TSE:ABX) (NYSE:ABX) by 240.8% in the first quarter, HoldingsChannel.com reports. The fund owned 2,692,470 shares of the basic materials company’s stock after buying an additional 1,902,350 shares during the period. OppenheimerFunds Inc.’s holdings in Barrick Gold were worth $36,914,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of ABX. FMR LLC increased its position in Barrick Gold by 123.5% during the 4th quarter. FMR LLC now owns 15,759,704 shares of the basic materials company’s stock worth $212,753,000 after purchasing an additional 8,709,003 shares in the last quarter. American Century Companies Inc. increased its position in Barrick Gold by 42.1% during the 4th quarter. American Century Companies Inc. now owns 3,196,512 shares of the basic materials company’s stock worth $43,281,000 after purchasing an additional 946,900 shares in the last quarter. First Hawaiian Bank acquired a new position in Barrick Gold during the 1st quarter worth approximately $239,000. Hollencrest Capital Management increased its position in Barrick Gold by 159.2% during the 1st quarter. Hollencrest Capital Management now owns 130,250 shares of the basic materials company’s stock worth $1,786,000 after purchasing an additional 80,000 shares in the last quarter. Finally, Hexavest Inc. acquired a new position in Barrick Gold during the 1st quarter worth approximately $21,660,000.
TSE ABX traded up C$0.18 on Wednesday, hitting C$18.19. The company’s stock had a trading volume of 2,112,895 shares, compared to its average volume of 5,053,091. The company has a debt-to-equity ratio of 31.73, a quick ratio of 1.28 and a current ratio of 2.46. Barrick Gold Corp has a 1-year low of C$12.54 and a 1-year high of C$19.49. The stock has a market cap of $31.90 billion and a P/E ratio of -14.94.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be given a $0.054 dividend. This represents a $0.22 annualized dividend and a yield of 1.19%. The ex-dividend date is Thursday, May 30th. Barrick Gold’s dividend payout ratio (DPR) is currently -13.13%.
A number of research firms recently issued reports on ABX. Desjardins upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating and set a C$22.00 price objective for the company in a research report on Wednesday, March 13th. Canaccord Genuity lowered their price objective on shares of Barrick Gold from C$19.00 to C$18.00 in a research report on Tuesday, April 23rd. Haywood Securities upped 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 restated a “hold” rating and issued a C$17.15 price target on shares of Barrick Gold in a research report on Wednesday, February 27th.
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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