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4-Traders Homepage  >  Equities  >  Toronto Stock Exchange  >  Barrick Gold Corp    ABX   CA0679011084

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CI Investments sharply raises SPDR gold holdings in third quarter: filing

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11/06/2017 | 08:55pm CET

CI Investments Inc sharply increased its holdings in the world's biggest gold exchange-traded fund during the third quarter of 2017, a U.S. Securities and Exchange Commission 13F filing showed on Monday.

The investment arm of Toronto-based CI Financial Corp (>> CI Financial Corp) increased its shares in SPDR Gold Trust <GLD.P> to nearly 1.45 million shares worth $176.2 million in the three-month period ended Sept. 30, the filing showed.

This was up more than five times from its 267,329 shares worth $31.55 million at the end of the second quarter.

The move took place as spot gold <XAU=> prices rose by around 9 percent from the end of the prior quarter to a 13-month high at $1,357.54 an ounce in early September. Prices were lifted by concerns over North Korea's nuclear tests that spurred safe-haven buying and as weak economic data lowered expectations of a December interest rate rise in the United States.

CI Investments cut in half its stake in Barrick Gold Corp (>> Barrick Gold Corp) to 125,600 shares worth $2 million, and increased its call options to 166,396 shares worth $6.8 million. This compares with 154,396 calls worth $7.5 million in the second quarter

It held its stake in Randgold Resources Ltd (>> Randgold Resources) little changed at 22,210 shares at a value of $2.17 million, which rose from $1.97 million in the second quarter.

(Reporting by Marcy Nicholson; Editing by Tom Brown)

Stocks treated in this article : Barrick Gold Corp, CI Financial Corp, Randgold Resources
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Financials ($)
Sales 2017 8 549 M
EBIT 2017 2 908 M
Net income 2017 1 678 M
Debt 2017 4 833 M
Yield 2017 0,82%
P/E ratio 2017 10,01
P/E ratio 2018 18,83
EV / Sales 2017 2,49x
EV / Sales 2018 2,41x
Capitalization 16 414 M
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 19,3 $
Spread / Average Target 37%
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Managers
NameTitle
Kelvin Dushnisky President & Non-Independent Director
John Lawson Thornton Non-Independent Executive Chairman
Richard J. Williams Chief Operating Officer
Catherine Phillipa Raw Chief Financial Officer & Executive Vice President
Matthew D. Gili Chief Technical Officer
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