Barrick Gold Corporation (ABX) Position Reduced by Northern Cross LLC
Northern Cross LLC cut its holdings in Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) by 11.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,514,692 shares of the basic materials company’s stock after selling 983,134 shares during the period. Barrick Gold Corporation accounts for about 1.5% of Northern Cross LLC’s portfolio, making the stock its 11th largest holding. Northern Cross LLC owned approximately 0.64% of Barrick Gold Corporation worth $119,559,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. FNY Managed Accounts LLC acquired a new position in Barrick Gold Corporation in the first quarter valued at approximately $116,000. Advisors Asset Management Inc. lifted its holdings in Barrick Gold Corporation by 116.4% in the second quarter. Advisors Asset Management Inc. now owns 6,588 shares of the basic materials company’s stock valued at $105,000 after acquiring an additional 3,543 shares during the last quarter. FNY Partners Fund LP acquired a new position in Barrick Gold Corporation in the second quarter valued at approximately $159,000. F&V Capital Management LLC acquired a new position in Barrick Gold Corporation in the second quarter valued at approximately $161,000. Finally, Neuberger Berman Group LLC acquired a new position in Barrick Gold Corporation in the second quarter valued at approximately $161,000. Hedge funds and other institutional investors own 55.70% of the company’s stock.
A number of research analysts recently commented on ABX shares. BidaskClub upgraded Barrick Gold Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 31st. TD Securities set a $20.00 price target on Barrick Gold Corporation and gave the stock a “hold” rating in a research note on Thursday. Royal Bank Of Canada restated a “buy” rating and set a $21.00 price target on shares of Barrick Gold Corporation in a research note on Tuesday, July 18th. Deutsche Bank AG restated a “buy” rating and set a $21.00 price target (down from $22.00) on shares of Barrick Gold Corporation in a research note on Sunday, June 25th. Finally, Citigroup Inc. restated a “buy” rating on shares of Barrick Gold Corporation in a research note on Wednesday, September 6th. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Barrick Gold Corporation has an average rating of “Hold” and an average target price of $20.15.
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Shares of Barrick Gold Corporation (NYSE ABX) traded up 0.2632% during mid-day trading on Friday, hitting $16.7239. The stock had a trading volume of 2,120,730 shares. The company’s 50 day moving average price is $17.00 and its 200 day moving average price is $16.97. The stock has a market cap of $19.50 billion, a P/E ratio of 8.2792 and a beta of -0.34. Barrick Gold Corporation has a 12-month low of $13.81 and a 12-month high of $20.78.
Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) last issued its quarterly earnings data on Wednesday, July 26th. The basic materials company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.05. Barrick Gold Corporation had a net margin of 26.95% and a return on equity of 8.91%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the business posted $0.14 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. Equities research analysts predict that Barrick Gold Corporation will post $0.75 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were issued a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $0.12 dividend on an annualized basis and a yield of 0.72%. Barrick Gold Corporation’s dividend payout ratio is currently 5.94%.
Barrick Gold Corporation Profile
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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