Quantbot Technologies LP purchased a new position in shares of Barrick Gold Corp (NYSE:ABX) (TSE:ABX) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 25,273 shares of the basic materials company’s stock, valued at approximately $406,000.
A number of other large investors have also modified their holdings of the business. First Eagle Investment Management LLC boosted its holdings in Barrick Gold by 1.6% in the third quarter. First Eagle Investment Management LLC now owns 35,354,891 shares of the basic materials company’s stock valued at $568,860,000 after purchasing an additional 546,654 shares in the last quarter. Franklin Resources Inc. lifted its stake in Barrick Gold by 41.7% in the second quarter. Franklin Resources Inc. now owns 34,981,711 shares of the basic materials company’s stock valued at $556,558,000 after buying an additional 10,291,973 shares during the last quarter. Vanguard Group Inc. lifted its stake in Barrick Gold by 4.5% in the second quarter. Vanguard Group Inc. now owns 27,435,727 shares of the basic materials company’s stock valued at $436,503,000 after buying an additional 1,190,761 shares during the last quarter. Flossbach Von Storch AG lifted its stake in Barrick Gold by 104.8% in the second quarter. Flossbach Von Storch AG now owns 26,529,688 shares of the basic materials company’s stock valued at $422,088,000 after buying an additional 13,576,086 shares during the last quarter. Finally, Majedie Asset Management Ltd lifted its stake in Barrick Gold by 7.8% in the second quarter. Majedie Asset Management Ltd now owns 18,856,140 shares of the basic materials company’s stock valued at $300,001,000 after buying an additional 1,360,514 shares during the last quarter. Institutional investors own 55.72% of the company’s stock.
Shares of Barrick Gold Corp (NYSE ABX) opened at $13.77 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.56 and a current ratio of 2.73. The company has a market capitalization of $16,215.92, a price-to-earnings ratio of 18.80, a P/E/G ratio of 9.43 and a beta of -0.42. Barrick Gold Corp has a 52 week low of $13.46 and a 52 week high of $20.78.
Barrick Gold (NYSE:ABX) (TSE:ABX) last posted its quarterly earnings data on Wednesday, October 25th. The basic materials company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). Barrick Gold had a net margin of 25.72% and a return on equity of 7.73%. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same period in the previous year, the business earned $0.24 EPS. The firm’s revenue was down 15.8% on a year-over-year basis. research analysts expect that Barrick Gold Corp will post 0.74 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Wednesday, November 29th. Barrick Gold’s payout ratio is 6.45%.
A number of brokerages have weighed in on ABX. Citigroup cut Barrick Gold from a “buy” rating to a “sell” rating and set a $13.00 price objective for the company. in a research note on Thursday, November 30th. Jefferies Group set a $20.00 price target on Barrick Gold and gave the stock a “buy” rating in a research note on Tuesday, August 15th. BMO Capital Markets set a $18.00 price target on Barrick Gold and gave the stock a “hold” rating in a research note on Wednesday, August 23rd. Credit Suisse Group cut Barrick Gold from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $22.00 to $19.00 in a research note on Thursday, October 26th. Finally, CSFB cut their price target on Barrick Gold from $22.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $18.69.
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About Barrick Gold
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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