International Assets Investment Management LLC Purchases 408,352 Shares of Barrick Gold Corp (NYSE:GOLD)

International Assets Investment Management LLC boosted its stake in shares of Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 1,847.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 430,459 shares of the gold and copper producer's stock after purchasing an additional 408,352 shares during the period. International Assets Investment Management LLC's holdings in Barrick Gold were worth $85,620,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ritholtz Wealth Management grew its position in Barrick Gold by 2.8% in the third quarter. Ritholtz Wealth Management now owns 18,163 shares of the gold and copper producer's stock worth $361,000 after acquiring an additional 502 shares in the last quarter. Greenleaf Trust grew its position in Barrick Gold by 2.1% in the third quarter. Greenleaf Trust now owns 25,659 shares of the gold and copper producer's stock worth $510,000 after acquiring an additional 540 shares in the last quarter. Silverlake Wealth Management LLC grew its position in Barrick Gold by 1.3% in the third quarter. Silverlake Wealth Management LLC now owns 49,890 shares of the gold and copper producer's stock worth $992,000 after acquiring an additional 628 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Barrick Gold by 1.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 38,999 shares of the gold and copper producer's stock worth $650,000 after acquiring an additional 731 shares in the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co grew its position in Barrick Gold by 2.4% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 36,519 shares of the gold and copper producer's stock worth $608,000 after acquiring an additional 850 shares in the last quarter. 62.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Royal Bank of Canada boosted their target price 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. Raymond James reduced their price objective on shares of Barrick Gold from $26.50 to $26.00 and set an "outperform" rating for the company in a research note on Thursday, September 26th. Argus upgraded shares of Barrick Gold from a "hold" rating to a "buy" rating and set a $24.00 price objective for the company in a research note on Thursday, August 29th. UBS Group boosted their price objective on shares of Barrick Gold from $22.00 to $23.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. Finally, CIBC boosted their price objective on shares of Barrick Gold from $23.00 to $27.00 and gave the stock an "outperformer" rating in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $23.60.

Barrick Gold Stock Performance

NYSE:GOLD traded down $0.71 during trading hours on Friday, hitting $19.61. 30,911,972 shares of the company traded hands, compared to its average volume of 21,148,789. The stock has a market capitalization of $34.37 billion, a price-to-earnings ratio of 23.91, a P/E/G ratio of 0.47 and a beta of 0.55. Barrick Gold Corp has a twelve month low of $13.76 and a twelve month high of $21.35. The firm has a 50-day moving average of $20.18 and a 200 day moving average of $18.33. The company has a current ratio of 3.01, a quick ratio of 2.31 and a debt-to-equity ratio of 0.15.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last released its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 EPS for the quarter, beating the consensus estimate of $0.27 by $0.05. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The firm had revenue of $3.16 billion during the quarter, compared to analysts' expectations of $3.13 billion. During the same period in the prior year, the company earned $0.19 EPS. The business's quarterly revenue was up 11.6% compared to the same quarter last year. On average, analysts forecast that Barrick Gold Corp will post 1.27 EPS for the current year.

Barrick Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend was Friday, August 30th. Barrick Gold's dividend payout ratio is 48.78%.

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.