Geode Capital Management LLC Purchases 696,556 Shares of Barrick Gold Corp (NYSE:GOLD)

Geode Capital Management LLC lifted its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 9.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,047,255 shares of the gold and copper producer’s stock after acquiring an additional 696,556 shares during the quarter. Geode Capital Management LLC owned approximately 0.46% of Barrick Gold worth $162,140,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in GOLD. Connor Clark & Lunn Investment Management Ltd. lifted its position in Barrick Gold by 221.1% during 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 purchasing an additional 6,904,934 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Barrick Gold by 4,713.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,144,456 shares of the gold and copper producer’s stock valued at $69,141,000 after buying an additional 4,058,351 shares during the period. Letko Brosseau & Associates Inc. bought a new position in Barrick Gold in the second quarter valued at approximately $66,820,000. The Manufacturers Life Insurance Company grew its holdings in Barrick Gold by 33.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,431,497 shares of the gold and copper producer’s stock worth $227,524,000 after acquiring an additional 2,854,055 shares during the period. Finally, Mizuho Markets Americas LLC bought a new stake in shares of Barrick Gold during the 2nd quarter valued at $31,768,000. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Stock Performance

Shares of Barrick Gold stock opened at $16.78 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06. The firm has a market cap of $29.21 billion, a price-to-earnings ratio of 18.04, a price-to-earnings-growth ratio of 0.47 and a beta of 0.53. The stock’s 50-day moving average is $18.58 and its 200-day moving average is $18.53. Barrick Gold Corp has a one year low of $13.76 and a one year high of $21.35.

Barrick Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 2.38%. Barrick Gold’s dividend payout ratio is currently 43.01%.

Analyst Upgrades and Downgrades

GOLD has been the topic of several recent research reports. Royal Bank of Canada raised 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. Cibc World Mkts lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Raymond James cut their price target on shares of Barrick Gold from $26.00 to $25.00 and set an “outperform” rating on the stock in a research report on Monday, November 25th. TD Securities decreased their price objective on shares of Barrick Gold from $26.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Finally, UBS Group lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and cut their target price for the stock from $23.00 to $22.00 in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.60.

Barrick Gold Company 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.