Cambridge Investment Research Advisors Inc. bought a new position in shares of Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 47,371 shares of the basic materials company’s stock, valued at approximately $754,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of ABX. FNY Managed Accounts LLC bought a new position in Barrick Gold Corporation during the first quarter worth $116,000. Advisors Asset Management Inc. boosted its position in shares of 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 period. Capital Innovations LLC bought a new stake in shares of Barrick Gold Corporation in the first quarter valued at about $253,000. F&V Capital Management LLC acquired a new position in Barrick Gold Corporation in the second quarter valued at about $161,000. Finally, Neuberger Berman Group LLC acquired a new position in Barrick Gold Corporation in the second quarter valued at about $161,000. Institutional investors and hedge funds own 55.65% of the company’s stock.
Shares of Barrick Gold Corporation (NYSE ABX) opened at 17.15 on Friday. The company has a 50-day moving average price of $17.18 and a 200-day moving average price of $17.27. Barrick Gold Corporation has a 52-week low of $13.81 and a 52-week high of $20.78. The stock has a market capitalization of $20.00 billion, a price-to-earnings ratio of 8.49 and a beta of -0.29.
Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) last issued its quarterly earnings results on Wednesday, July 26th. The basic materials company reported $0.22 earnings per share for the quarter, topping the 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 for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the business posted $0.14 earnings per share. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities analysts anticipate that Barrick Gold Corporation will post $0.74 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.03 per share. The ex-dividend date is Tuesday, August 29th. This represents a $0.12 annualized dividend and a yield of 0.70%. Barrick Gold Corporation’s payout ratio is currently 5.94%.
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A number of research analysts recently commented on ABX shares. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Barrick Gold Corporation in a research note on Friday, August 18th. Berenberg Bank reissued a “sell” rating and set a $15.20 target price on shares of Barrick Gold Corporation in a research note on Friday, June 2nd. Barclays PLC reissued an “equal weight” rating and set a $20.00 target price (down previously from $22.00) on shares of Barrick Gold Corporation in a research note on Thursday, June 1st. Deutsche Bank AG reissued a “buy” rating and set a $21.00 target price (down previously from $22.00) on shares of Barrick Gold Corporation in a research note on Sunday, June 25th. Finally, Jefferies Group LLC set a $24.00 target price on Barrick Gold Corporation and gave the stock a “buy” rating in a research note on Friday, May 19th. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $20.59.
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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