Acadian Asset Management LLC lowered its stake in Barrick Gold Corp. (NYSE:ABX) by 93.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,500 shares of the company’s stock after selling 165,100 shares during the period. Acadian Asset Management LLC’s holdings in Barrick Gold Corp. were worth $244,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of ABX. BlackRock Group LTD increased its position in shares of Barrick Gold Corp. by 455.6% in the first quarter. BlackRock Group LTD now owns 22,778,990 shares of the company’s stock valued at $309,339,000 after buying an additional 18,679,408 shares in the last quarter. Teachers Advisors Inc. purchased a new stake in shares of Barrick Gold Corp. during the first quarter valued at approximately $9,869,000. TIAA CREF Investment Management LLC purchased a new stake in shares of Barrick Gold Corp. during the first quarter valued at approximately $6,380,000. Ngam Advisors L.P. purchased a new stake in shares of Barrick Gold Corp. during the first quarter valued at approximately $481,000. Finally, Pacad Investment Ltd. boosted its stake in shares of Barrick Gold Corp. by 252.5% in the first quarter. Pacad Investment Ltd. now owns 416,078 shares of the company’s stock valued at $5,650,000 after buying an additional 298,033 shares during the last quarter. Institutional investors and hedge funds own 60.11% of the company’s stock.
Shares of Barrick Gold Corp. (NYSE:ABX) traded down 2.27% during midday trading on Friday, reaching $18.11. 10,712,410 shares of the company were exchanged. The stock has a 50-day moving average price of $19.13 and a 200 day moving average price of $18.33. Barrick Gold Corp. has a 52-week low of $6.04 and a 52-week high of $23.47. The company’s market capitalization is $21.10 billion.
Barrick Gold Corp. (NYSE:ABX) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by $0.01. Barrick Gold Corp. had a negative net margin of 33.33% and a positive return on equity of 4.95%. The business earned $2.01 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the previous year, the business posted ($0.01) earnings per share. Barrick Gold Corp.’s revenue was down 9.8% compared to the same quarter last year. Equities research analysts expect that Barrick Gold Corp. will post $0.69 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were paid 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 0.44%. Barrick Gold Corp.’s payout ratio is presently -3.29%.
ABX has been the topic of several recent analyst reports. Zacks Investment Research raised Barrick Gold Corp. from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Tuesday, July 12th. Citigroup Inc. initiated coverage on Barrick Gold Corp. in a report on Tuesday, August 2nd. They set a “buy” rating and a $29.00 target price on the stock. TD Securities reissued a “buy” rating and set a $26.00 target price on shares of Barrick Gold Corp. in a report on Saturday, August 13th. Berenberg Bank initiated coverage on Barrick Gold Corp. in a report on Wednesday, September 7th. They set a “sell” rating and a $15.20 target price on the stock. Finally, Credit Suisse Group AG reissued a “buy” rating and set a $17.00 target price on shares of Barrick Gold Corp. in a report on Wednesday, June 29th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $21.56.
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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