Geode Capital Management LLC Boosts Position in Barrick Gold Corp (NYSE:GOLD)

Geode Capital Management LLC grew its holdings in Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 9.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,047,255 shares of the gold and copper producer's stock after acquiring an additional 696,556 shares during the period. Geode Capital Management LLC owned about 0.46% of Barrick Gold worth $162,140,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Y Intercept Hong Kong Ltd boosted its holdings in Barrick Gold by 152.4% in the third quarter. Y Intercept Hong Kong Ltd now owns 57,530 shares of the gold and copper producer's stock valued at $1,144,000 after purchasing an additional 34,733 shares during the last quarter. Wellington Management Group LLP grew its holdings in Barrick Gold by 2.7% during the third quarter. Wellington Management Group LLP now owns 54,712,508 shares of the gold and copper producer's stock worth $1,088,484,000 after acquiring an additional 1,458,084 shares during the period. Wahed Invest LLC raised its position in Barrick Gold by 11.3% during the third quarter. Wahed Invest LLC now owns 22,879 shares of the gold and copper producer's stock valued at $455,000 after acquiring an additional 2,329 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Barrick Gold during the third quarter valued at approximately $20,379,000. Finally, Quantinno Capital Management LP lifted its holdings in Barrick Gold by 7.5% in the third quarter. Quantinno Capital Management LP now owns 65,185 shares of the gold and copper producer's stock valued at $1,297,000 after acquiring an additional 4,554 shares during the period. Institutional investors and hedge funds own 62.85% of the company's stock.

Barrick Gold Price Performance

Shares of NYSE GOLD traded down $0.44 during mid-day trading on Monday, reaching $16.34. The company's stock had a trading volume of 19,475,607 shares, compared to its average volume of 21,405,592. The stock has a 50-day moving average of $18.58 and a two-hundred day moving average of $18.53. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.06 and a current ratio of 2.65. The stock has a market capitalization of $28.45 billion, a P/E ratio of 18.04, a P/E/G ratio of 0.47 and a beta of 0.53. 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 announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date is Friday, November 29th. Barrick Gold's dividend payout ratio (DPR) is 43.01%.

Wall Street Analyst Weigh In

GOLD has been the subject of several analyst reports. TD Securities decreased their target price on shares of Barrick Gold from $26.00 to $25.00 and set a "buy" rating for the company in a research note on Tuesday, November 26th. Scotiabank decreased their price objective on shares of Barrick Gold from $24.00 to $23.00 and set a "sector outperform" rating for the company in a research report on Monday, November 25th. Cibc World Mkts cut Barrick Gold from a "strong-buy" rating to a "hold" rating in a research report on Monday, November 25th. CIBC cut Barrick Gold from a "sector outperform" rating to a "neutral" rating in a report on Monday, November 25th. Finally, Royal Bank of Canada raised their price objective on Barrick Gold from $21.00 to $22.00 and gave the company an "outperform" rating in a report on Tuesday, September 10th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $25.60.

About Barrick Gold

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.