Loeb Partners Corp lowered its stake in Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) by 31.8% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 15,000 shares of the basic materials company’s stock after selling 7,000 shares during the period. Loeb Partners Corp’s holdings in Barrick Gold Corporation were worth $239,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in ABX. Quadrant Capital Group LLC boosted its position in shares of Barrick Gold Corporation by 275.8% in the first quarter. Quadrant Capital Group LLC now owns 5,592 shares of the basic materials company’s stock valued at $104,000 after buying an additional 4,104 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of Barrick Gold Corporation by 9.9% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 5,608 shares of the basic materials company’s stock valued at $106,000 after buying an additional 506 shares during the last quarter. FNY Managed Accounts LLC acquired a new position in shares of Barrick Gold Corporation during the first quarter valued at approximately $116,000. Gemmer Asset Management LLC acquired a new position in shares of Barrick Gold Corporation during the first quarter valued at approximately $155,000. Finally, Capital Innovations LLC acquired a new position in shares of Barrick Gold Corporation during the first quarter valued at approximately $253,000. Institutional investors and hedge funds own 58.87% of the company’s stock.
Barrick Gold Corporation (ABX) traded down 0.18% during trading on Friday, reaching $17.04. 12,103,091 shares of the company were exchanged. The stock has a market capitalization of $19.87 billion, a price-to-earnings ratio of 8.44 and a beta of -0.23. Barrick Gold Corporation has a one year low of $13.81 and a one year high of $21.83. The firm’s 50 day moving average price is $16.27 and its 200-day moving average price is $17.56. Barrick Gold Corporation also was the target of some unusual options trading activity on Wednesday. Stock traders bought 19,089 call options on the stock. This is an increase of 106% compared to the average volume of 9,246 call options.
Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) last released its quarterly earnings data on Wednesday, July 26th. The basic materials company reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.05. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.03 billion. Barrick Gold Corporation had a net margin of 26.95% and a return on equity of 8.91%. The company’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.14 earnings per share. On average, equities research analysts predict that Barrick Gold Corporation will post $0.73 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.70%. The ex-dividend date is Tuesday, August 29th. Barrick Gold Corporation’s dividend payout ratio (DPR) is presently 5.94%.
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A number of analysts have commented on ABX shares. TD Securities reiterated a “hold” rating on shares of Barrick Gold Corporation in a research note on Sunday, May 28th. BidaskClub upgraded shares of Barrick Gold Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Zacks Investment Research upgraded shares of Barrick Gold Corporation from a “sell” rating to a “hold” rating in a research note on Friday, July 21st. Royal Bank Of Canada reiterated a “buy” rating and issued a $21.00 price target on shares of Barrick Gold Corporation in a research note on Tuesday, June 13th. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $20.00 price target (down previously from $22.00) on shares of Barrick Gold Corporation in a research note on Thursday, June 1st. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Barrick Gold Corporation presently has a consensus rating of “Hold” and a consensus target price of $20.59.
About Barrick Gold Corporation
Barrick Gold Corporation (Barrick) is a gold mining company. The Company is principally engaged in the production and sale of gold and copper, as well as related activities, such as exploration and mine development. The Company’s segments include Goldstrike, Cortez, Pueblo Viejo, Lagunas Norte, Veladero, Turquoise Ridge, Acacia Mining plc (Acacia), Pascua-Lama and Other Mines.
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