Connor Clark & Lunn Investment Management Ltd. boosted its position in Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 221.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,027,811 shares of the gold and copper producer's stock after buying an additional 6,904,934 shares during the period. Barrick Gold makes up approximately 1.0% of Connor Clark & Lunn Investment Management Ltd.'s portfolio, making the stock its 21st biggest position. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.57% of Barrick Gold worth $199,427,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. DCF Advisers LLC raised its position in Barrick Gold by 48.3% during the 2nd quarter. DCF Advisers LLC now owns 107,500 shares of the gold and copper producer's stock valued at $1,793,000 after purchasing an additional 35,000 shares during the last quarter. Mizuho Markets Americas LLC raised its stake in Barrick Gold by 21.7% during the third quarter. Mizuho Markets Americas LLC now owns 2,317,580 shares of the gold and copper producer's stock valued at $46,097,000 after purchasing an additional 413,012 shares in the last quarter. Entropy Technologies LP purchased a new stake in shares of Barrick Gold in the third quarter valued at approximately $3,711,000. Aigen Investment Management LP grew its stake in shares of Barrick Gold by 330.5% during the third quarter. Aigen Investment Management LP now owns 99,240 shares of the gold and copper producer's stock worth $1,974,000 after acquiring an additional 76,186 shares during the last quarter. Finally, Evexia Wealth LLC purchased a new stake in shares of Barrick Gold in the third quarter worth about $2,382,000. Institutional investors own 62.85% of the company's stock.
Barrick Gold Price Performance
NYSE GOLD traded up $0.17 on Wednesday, reaching $17.89. 25,959,680 shares of the company's stock traded hands, compared to its average volume of 21,525,711. The stock has a 50-day simple moving average of $19.61 and a 200 day simple moving average of $18.50. Barrick Gold Corp has a 12 month low of $13.76 and a 12 month high of $21.35. The stock has a market cap of $31.27 billion, a PE ratio of 19.14, a P/E/G 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 Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Friday, November 29th. Barrick Gold's payout ratio is presently 43.01%.
Analysts Set New Price Targets
Several research analysts have weighed in on the stock. UBS Group lowered shares of Barrick Gold from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $23.00 to $22.00 in a research note on Wednesday, October 30th. TD Securities dropped their price objective on Barrick Gold from $27.00 to $26.00 and set a "buy" rating for the company in a report on Friday, November 8th. Raymond James dropped their target price on shares of Barrick Gold from $26.50 to $26.00 and set an "outperform" rating for the company in a research report on Thursday, September 26th. Royal Bank of Canada boosted their price target on Barrick Gold from $21.00 to $22.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 10th. Finally, Argus upgraded Barrick Gold from a "hold" rating to a "buy" rating and set a $24.00 price objective for the company in a research report on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, Barrick Gold presently has an average rating of "Moderate Buy" and an average price target of $23.90.
Get Our Latest Report on Barrick Gold
Barrick Gold Profile
(
Free Report)
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.
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