Barrick Gold Corp (ABX) Short Interest Update
Barrick Gold Corp (NYSE:ABX) (TSE:ABX) saw a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 9,463,955 shares, a decline of 31.5% from the November 15th total of 13,824,310 shares. Based on an average trading volume of 9,569,986 shares, the short-interest ratio is presently 1.0 days. Approximately 0.8% of the shares of the stock are sold short.
A number of brokerages have issued reports on ABX. Citigroup reiterated a “buy” rating on shares of Barrick Gold in a report on Wednesday, September 6th. Royal Bank of Canada reiterated an “outperform” rating on shares of Barrick Gold in a report on Thursday, September 7th. BMO Capital Markets set a $18.00 price target on shares of Barrick Gold and gave the company a “hold” rating in a report on Wednesday, August 23rd. TD Securities set a $20.00 price target on shares of Barrick Gold and gave the company a “hold” rating in a report on Thursday, October 12th. Finally, Jefferies Group reiterated a “buy” rating and issued a $20.00 price target on shares of Barrick Gold in a report on Thursday, September 21st. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company. Barrick Gold currently has a consensus rating of “Hold” and an average price target of $18.55.
Barrick Gold (ABX) opened at $14.42 on Thursday. Barrick Gold has a 52 week low of $13.28 and a 52 week high of $20.78. The company has a market cap of $16,850.00, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 9.49 and a beta of -0.42. The company has a quick ratio of 1.56, a current ratio of 2.73 and a debt-to-equity ratio of 0.55.
The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, November 30th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.83%. Barrick Gold’s dividend payout ratio is presently 6.42%.
Hedge funds have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. boosted its stake in shares of Barrick Gold by 116.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 6,588 shares of the basic materials company’s stock worth $105,000 after purchasing an additional 3,543 shares during the period. FNY Partners Fund LP purchased a new position in shares of Barrick Gold during the 2nd quarter worth about $159,000. Neuberger Berman Group LLC purchased a new position in shares of Barrick Gold during the 2nd quarter worth about $161,000. ETRADE Capital Management LLC purchased a new position in shares of Barrick Gold during the 2nd quarter worth about $180,000. Finally, Boothbay Fund Management LLC purchased a new position in shares of Barrick Gold during the 3rd quarter worth about $187,000. 55.67% of the stock is owned by hedge funds and other institutional investors.
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Barrick Gold Company 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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