Charles Schwab Investment Management Inc. Raises Stake in Barrick Gold Corp (NYSE:GOLD)

Charles Schwab Investment Management Inc. lifted its stake in Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 5.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,945,514 shares of the gold and copper producer's stock after buying an additional 244,057 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.28% of Barrick Gold worth $98,469,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of GOLD. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Barrick Gold by 221.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,027,811 shares of the gold and copper producer's stock valued at $199,427,000 after buying an additional 6,904,934 shares during the last quarter. EdgePoint Investment Group Inc. grew its position in Barrick Gold by 38.8% during the 1st quarter. EdgePoint Investment Group Inc. now owns 18,170,814 shares of the gold and copper producer's stock worth $302,366,000 after purchasing an additional 5,080,510 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Barrick Gold by 4,713.3% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,144,456 shares of the gold and copper producer's stock worth $69,141,000 after purchasing an additional 4,058,351 shares during the last quarter. Letko Brosseau & Associates Inc. purchased a new position in Barrick Gold during the 2nd quarter worth $66,820,000. Finally, Mizuho Markets Americas LLC purchased a new position in Barrick Gold during the 2nd quarter worth $31,768,000. 62.85% of the stock is owned by hedge funds and other institutional investors.

Barrick Gold Price Performance

Shares of NYSE GOLD traded up $0.02 during midday trading on Wednesday, hitting $17.58. The company had a trading volume of 21,827,852 shares, compared to its average volume of 21,586,721. 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 Corp has a twelve month low of $13.76 and a twelve month high of $21.35. The business has a 50-day simple moving average of $19.31 and a two-hundred day simple moving average of $18.53. The firm has a market capitalization of $30.73 billion, a price-to-earnings ratio of 18.90, a price-to-earnings-growth ratio of 0.42 and a beta of 0.56.

Barrick Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Friday, November 29th. Barrick Gold's payout ratio is currently 43.01%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on GOLD shares. Berenberg Bank raised their price objective on shares of Barrick Gold from $37.00 to $38.00 in a research report on Tuesday. Royal Bank of Canada raised their price objective on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 10th. Scotiabank lowered their price objective 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. CIBC cut shares of Barrick Gold from a "sector outperform" rating to a "neutral" rating in a research note on Monday. Finally, Argus upgraded shares of Barrick Gold from a "hold" rating to a "buy" rating and set a $24.00 target price for the company in a research note on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $24.91.

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.