Investec Asset Management LTD Has $24.48 Million Holdings in Barrick Gold Corporation (ABX)
Investec Asset Management LTD lowered its holdings in shares of Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) by 53.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,539,186 shares of the basic materials company’s stock after selling 1,747,371 shares during the quarter. Investec Asset Management LTD owned 0.13% of Barrick Gold Corporation worth $24,477,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FNY Managed Accounts LLC acquired a new stake in Barrick Gold Corporation in the 1st quarter valued at approximately $116,000. Advisors Asset Management Inc. raised its position in Barrick Gold Corporation by 116.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 6,588 shares of the basic materials company’s stock valued at $105,000 after buying an additional 3,543 shares during the last quarter. FNY Partners Fund LP acquired a new stake in Barrick Gold Corporation in the 2nd quarter valued at approximately $159,000. F&V Capital Management LLC acquired a new stake in Barrick Gold Corporation in the 2nd quarter valued at approximately $161,000. Finally, Neuberger Berman Group LLC acquired a new stake in Barrick Gold Corporation in the 2nd quarter valued at approximately $161,000. 55.65% of the stock is currently owned by institutional investors.
A number of brokerages recently issued reports on ABX. Citigroup Inc. reissued a “buy” rating on shares of Barrick Gold Corporation in a research report on Wednesday, September 6th. Royal Bank Of Canada reissued an “outperform” rating on shares of Barrick Gold Corporation in a research report on Thursday, September 7th. BidaskClub raised Barrick Gold Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. BMO Capital Markets set a $18.00 target price on Barrick Gold Corporation and gave the company a “hold” rating in a research report on Wednesday, August 23rd. Finally, Jefferies Group LLC set a $20.00 price target on Barrick Gold Corporation and gave the company a “buy” rating in a research note on Tuesday, August 15th. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $20.59.
Shares of Barrick Gold Corporation (NYSE ABX) traded up 0.12% during trading on Tuesday, reaching $16.94. The company’s stock had a trading volume of 1,284,892 shares. The stock has a market cap of $19.75 billion, a P/E ratio of 8.39 and a beta of -0.29. Barrick Gold Corporation has a 52-week low of $13.81 and a 52-week high of $20.78. The stock has a 50-day moving average of $17.20 and a 200-day moving average of $17.22. Barrick Gold Corporation also was the recipient of unusually large options trading on Monday. Traders bought 18,056 call options on the company. This is an increase of 116% compared to the typical volume of 8,376 call options.
Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) last posted its quarterly earnings results on Wednesday, July 26th. The basic materials company reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.05. Barrick Gold Corporation had a return on equity of 8.91% and a net margin of 26.95%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the company earned $0.14 earnings per share. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. Analysts predict that Barrick Gold Corporation will post $0.74 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date was Tuesday, August 29th. Barrick Gold Corporation’s payout ratio is currently 5.94%.
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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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