Scheer Rowlett & Associates Investment Management Ltd. Has $50.95 Million Holdings in Barrick Gold Corp (NYSE:GOLD)

Scheer Rowlett & Associates Investment Management Ltd. reduced its stake in shares of Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 1.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,561,865 shares of the gold and copper producer's stock after selling 30,390 shares during the quarter. Barrick Gold comprises approximately 3.6% of Scheer Rowlett & Associates Investment Management Ltd.'s portfolio, making the stock its 11th largest holding. Scheer Rowlett & Associates Investment Management Ltd. owned about 0.15% of Barrick Gold worth $50,949,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Ritholtz Wealth Management increased its stake 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 valued at $361,000 after purchasing an additional 502 shares during the period. Greenleaf Trust lifted 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 valued at $510,000 after purchasing an additional 540 shares during the period. Moors & Cabot Inc. boosted its stake in shares of Barrick Gold by 0.9% in the third quarter. Moors & Cabot Inc. now owns 64,085 shares of the gold and copper producer's stock valued at $1,275,000 after buying an additional 579 shares in the last quarter. Silverlake Wealth Management LLC grew its stake in shares of Barrick Gold by 1.3% during the 3rd quarter. Silverlake Wealth Management LLC now owns 49,890 shares of the gold and copper producer's stock worth $992,000 after purchasing an additional 628 shares during the period. Finally, Avior Wealth Management LLC increased its holdings in Barrick Gold by 24.1% in the third 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 in the last quarter. Institutional investors and hedge funds own 62.85% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. UBS Group lowered shares of Barrick Gold from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $23.00 to $22.00 in a research report on Wednesday, October 30th. Jefferies Financial Group increased their target price on Barrick Gold from $23.00 to $24.00 and gave the company a "buy" rating in a report on Friday, September 13th. 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 report on Tuesday, September 10th. Scotiabank dropped their price objective on Barrick Gold from $25.00 to $24.00 and set a "sector outperform" rating for the company in a research report on Friday, November 8th. Finally, Raymond James decreased their target price on shares of Barrick Gold from $26.50 to $26.00 and set an "outperform" rating on the stock in a research report on Thursday, September 26th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $23.90.

Barrick Gold Price Performance

Shares of Barrick Gold stock traded up $0.18 on Wednesday, hitting $17.90. The company had a trading volume of 26,305,000 shares, compared to its average volume of 21,527,145. Barrick Gold Corp has a 52 week low of $13.76 and a 52 week high of $21.35. The company has a market cap of $31.29 billion, a PE ratio of 19.14, a PEG ratio of 0.39 and a beta of 0.56. The business has a 50-day simple moving average of $19.61 and a 200-day simple moving average of $18.50. 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 Announces Dividend

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

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.