Barrick Gold Corp (NYSE:GOLD) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 5.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 4,945,514 shares of the gold and copper producer’s stock after buying an additional 244,057 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Barrick Gold were worth $98,469,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Clean Yield Group purchased a new position in Barrick Gold in the 1st quarter worth approximately $25,000. Exchange Traded Concepts LLC lifted its position in Barrick Gold by 198.1% during the third quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock worth $28,000 after buying an additional 935 shares in the last quarter. Crewe Advisors LLC lifted its position in Barrick Gold by 628.8% during the second quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock worth $30,000 after buying an additional 1,572 shares in the last quarter. Jackson Grant Investment Advisers Inc. purchased a new stake in Barrick Gold in the 2nd quarter valued at $32,000. Finally, Eastern Bank acquired a new stake in shares of Barrick Gold in the 3rd quarter worth $32,000. 62.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on GOLD shares. TD Securities lowered their price target on shares of Barrick Gold from $26.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday. Royal Bank of Canada increased their price target on shares of Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Scotiabank reduced their price target on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a research report on Monday. Raymond James lowered their price objective on Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a research report on Monday. Finally, Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Barrick Gold has an average rating of “Moderate Buy” and an average target price of $24.91.

Barrick Gold Stock Performance

NYSE GOLD opened at $17.56 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06. 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 stock has a 50-day moving average of $19.36 and a two-hundred day moving average of $18.54. Barrick Gold Corp has a 1-year low of $13.76 and a 1-year high of $21.35.

Barrick Gold Dividend Announcement

The firm also recently disclosed 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. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Friday, November 29th. Barrick Gold’s dividend payout ratio (DPR) 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.