Barrick Gold Corp (NYSE:GOLD) Shares Purchased by Raymond James Trust N.A.

Raymond James Trust N.A. raised its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 22.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,699 shares of the gold and copper producer’s stock after buying an additional 3,917 shares during the quarter. Raymond James Trust N.A.’s holdings in Barrick Gold were worth $432,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its position in shares of Barrick Gold by 5.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,945,514 shares of the gold and copper producer’s stock valued at $98,469,000 after acquiring an additional 244,057 shares in the last quarter. Moors & Cabot Inc. raised its stake in Barrick Gold by 0.9% in the 3rd quarter. Moors & Cabot Inc. now owns 64,085 shares of the gold and copper producer’s stock valued at $1,275,000 after purchasing an additional 579 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in Barrick Gold by 2.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 57,896 shares of the gold and copper producer’s stock valued at $1,152,000 after purchasing an additional 1,159 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of 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 buying an additional 6,904,934 shares in the last quarter. Finally, PCJ Investment Counsel Ltd. acquired a new position in shares of Barrick Gold in the third quarter valued at approximately $2,450,000. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Wall Street Analyst Weigh In

GOLD has been the subject of several recent analyst reports. Scotiabank lowered their target price on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a research note on Monday. Raymond James dropped their target price on Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Monday. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Thursday, August 29th. UBS Group downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $23.00 to $22.00 in a research note on Wednesday, October 30th. Finally, CIBC cut shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Barrick Gold has an average rating of “Moderate Buy” and a consensus price target of $24.91.

Barrick Gold Price Performance

GOLD opened at $17.56 on Wednesday. Barrick Gold Corp has a 52-week low of $13.76 and a 52-week high of $21.35. The company has a 50 day moving average of $19.36 and a two-hundred day moving average of $18.54. The company has a market cap of $30.70 billion, a P/E ratio of 18.88, a P/E/G ratio of 0.43 and a beta of 0.56. The company has a quick ratio of 2.06, a current ratio of 2.65 and a debt-to-equity ratio of 0.14.

Barrick Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.40 annualized dividend and a yield of 2.28%. Barrick Gold’s dividend payout ratio is currently 43.01%.

Barrick Gold Profile

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.