Vanguard Group Inc. boosted its stake in shares of Barrick Gold Corp. (NYSE:ABX) by 10.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,656,325 shares of the company’s stock after buying an additional 2,215,318 shares during the period. Vanguard Group Inc. owned about 2.03% of Barrick Gold Corp. worth $505,063,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. First New York Securities LLC NY purchased a new stake in Barrick Gold Corp. during the second quarter valued at $117,000. CENTRAL TRUST Co increased its stake in Barrick Gold Corp. by 5.3% in the second quarter. CENTRAL TRUST Co now owns 7,786 shares of the company’s stock valued at $166,000 after buying an additional 392 shares during the last quarter. Fruth Investment Management purchased a new stake in Barrick Gold Corp. during the second quarter valued at $210,000. Bourgeon Capital Management LLC purchased a new stake in Barrick Gold Corp. during the second quarter valued at $213,000. Finally, Moors & Cabot Inc. purchased a new stake in Barrick Gold Corp. during the second quarter valued at $229,000. Institutional investors and hedge funds own 60.11% of the company’s stock.
Shares of Barrick Gold Corp. (NYSE:ABX) traded down 1.13% on Monday, reaching $17.52. The company had a trading volume of 2,123,666 shares. The firm’s market capitalization is $20.42 billion. Barrick Gold Corp. has a 1-year low of $6.61 and a 1-year high of $23.47. The firm has a 50-day moving average price of $18.60 and a 200 day moving average price of $18.47.
Barrick Gold Corp. (NYSE:ABX) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.01. The firm earned $2.01 billion during the quarter, compared to analyst estimates of $2.02 billion. Barrick Gold Corp. had a negative net margin of 33.33% and a positive return on equity of 4.95%. Barrick Gold Corp.’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.01) EPS. Equities research analysts predict that Barrick Gold Corp. will post $0.69 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were given a $0.02 dividend. The ex-dividend date was Monday, August 29th. This represents a $0.08 dividend on an annualized basis and a yield of 0.45%. Barrick Gold Corp.’s payout ratio is currently -3.29%.
Several research firms have weighed in on ABX. Jefferies Group reiterated a “buy” rating and set a $26.00 price target on shares of Barrick Gold Corp. in a research note on Thursday, July 28th. Vetr upgraded Barrick Gold Corp. from a “sell” rating to a “buy” rating and set a $21.38 price target on the stock in a research note on Thursday, June 9th. Goldman Sachs Group Inc. boosted their price target on Barrick Gold Corp. from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, June 8th. RBC Capital Markets reiterated a “sector perform” rating on shares of Barrick Gold Corp. in a research note on Sunday, September 4th. Finally, Citigroup Inc. began coverage on Barrick Gold Corp. in a report on Tuesday, August 2nd. They issued a “buy” rating and a $29.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $21.29.
About Barrick Gold Corp.
Barrick Gold Corporation (Barrick) is engaged in the production and sale of gold, as well as related activities, such as exploration and mine development. The Company produces copper, principally from its Zaldivar joint venture and Lumwana mine, and holds other interests. Barricks’ segments include Cortez, Goldstrike, Pueblo Viejo, Lagunas Norte, Veladero, Turquoise Ridge, Porgera, Kalgoorlie, Acacia Mining plc, Lumwana, Zaldivar and Pascua-Lama Project.
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