PCJ Investment Counsel Ltd. Takes $2.45 Million Position in Barrick Gold Corp (NYSE:GOLD)

PCJ Investment Counsel Ltd. purchased a new position in Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 123,200 shares of the gold and copper producer's stock, valued at approximately $2,450,000.

Several other institutional investors have also added to or reduced their stakes in GOLD. Ritholtz Wealth Management grew its stake in shares of Barrick Gold by 2.8% in the 3rd quarter. Ritholtz Wealth Management now owns 18,163 shares of the gold and copper producer's stock valued at $361,000 after buying an additional 502 shares during the period. Greenleaf Trust grew its holdings in Barrick Gold by 2.1% during the 3rd quarter. Greenleaf Trust now owns 25,659 shares of the gold and copper producer's stock valued at $510,000 after purchasing an additional 540 shares in the last quarter. Silverlake Wealth Management LLC lifted its position in shares of Barrick Gold by 1.3% in the 3rd quarter. Silverlake Wealth Management LLC now owns 49,890 shares of the gold and copper producer's stock worth $992,000 after buying an additional 628 shares during the last quarter. Avior Wealth Management LLC increased its stake in Barrick Gold by 24.1% during the 3rd quarter. Avior Wealth Management LLC now owns 3,399 shares of the gold and copper producer's stock valued at $68,000 after buying an additional 659 shares during the period. Finally, Whitener Capital Management Inc. boosted its holdings in shares of Barrick Gold by 0.9% in the third quarter. Whitener Capital Management Inc. now owns 73,185 shares of the gold and copper producer's stock worth $1,456,000 after buying an additional 675 shares during the period. Institutional investors own 62.85% of the company's stock.

Barrick Gold Stock Performance

Shares of GOLD traded up $0.23 during mid-day trading on Wednesday, reaching $17.95. 19,855,879 shares of the company's stock were exchanged, compared to its average volume of 21,498,582. The stock has a market capitalization of $31.38 billion, a PE ratio of 19.14, a price-to-earnings-growth ratio of 0.39 and a beta of 0.56. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06. Barrick Gold Corp has a 52-week low of $13.76 and a 52-week high of $21.35. The business's fifty day simple moving average is $19.61 and its 200-day simple moving average is $18.50.

Barrick Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Friday, November 29th. Barrick Gold's dividend payout ratio is 43.01%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GOLD. Scotiabank reduced their target price on shares of Barrick Gold from $25.00 to $24.00 and set a "sector outperform" rating on the stock in a research note on Friday, November 8th. TD Securities lowered their target price on Barrick Gold from $27.00 to $26.00 and set a "buy" rating on the stock in a research report on Friday, November 8th. Jefferies Financial Group raised their price target on Barrick Gold from $23.00 to $24.00 and gave the company a "buy" rating in a report on Friday, September 13th. Argus raised Barrick Gold from a "hold" rating to a "buy" rating and set a $24.00 target price on the stock in a report on Thursday, August 29th. Finally, UBS Group downgraded Barrick Gold from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $23.00 to $22.00 in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Barrick Gold currently has an average rating of "Moderate Buy" and an average target price of $23.90.

Barrick Gold Company 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.