Westpac Banking Corp held its position in shares of Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 94,705 shares of the basic materials company’s stock at the close of the 2nd quarter. Westpac Banking Corp’s holdings in Barrick Gold Corporation were worth $1,954,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. US Bancorp DE grew its stake in shares of Barrick Gold Corporation by 5.2% during the 1st quarter. US Bancorp DE now owns 110,226 shares of the basic materials company’s stock valued at $2,093,000 after purchasing an additional 5,450 shares during the period. Karp Capital Management Corp bought a new stake in shares of Barrick Gold Corporation during the 1st quarter valued at about $6,383,000. Sei Investments Co. grew its stake in shares of Barrick Gold Corporation by 32.8% during the 1st quarter. Sei Investments Co. now owns 295,404 shares of the basic materials company’s stock valued at $5,610,000 after purchasing an additional 73,043 shares during the period. Engineers Gate Manager LP grew its stake in shares of Barrick Gold Corporation by 69.4% during the 1st quarter. Engineers Gate Manager LP now owns 210,412 shares of the basic materials company’s stock valued at $3,996,000 after purchasing an additional 86,186 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in shares of Barrick Gold Corporation by 201.8% during the 1st quarter. Ameriprise Financial Inc. now owns 45,655 shares of the basic materials company’s stock valued at $867,000 after purchasing an additional 30,526 shares during the period. Institutional investors own 55.65% of the company’s stock.
Barrick Gold Corporation (NYSE ABX) opened at 16.36 on Friday. The company has a market cap of $19.08 billion, a P/E ratio of 8.10 and a beta of -0.29. The stock’s 50 day moving average price is $17.20 and its 200 day moving average price is $17.21. Barrick Gold Corporation has a 52-week low of $13.81 and a 52-week high of $20.78.
Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) last announced its quarterly earnings results on Wednesday, July 26th. The basic materials company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.05. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.03 billion. Barrick Gold Corporation had a return on equity of 8.91% and a net margin of 26.95%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.14 EPS. Analysts expect that Barrick Gold Corporation will post $0.74 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.73%. Barrick Gold Corporation’s dividend payout ratio is presently 5.94%.
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A number of research analysts have recently weighed in on the company. Jefferies Group LLC reaffirmed a “buy” rating and set a $20.00 price objective on shares of Barrick Gold Corporation in a research report on Thursday. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Barrick Gold Corporation in a research report on Thursday, September 7th. Citigroup Inc. reaffirmed a “buy” rating on shares of Barrick Gold Corporation in a research report on Wednesday, September 6th. BMO Capital Markets set a $18.00 price objective on Barrick Gold Corporation and gave the company a “hold” rating in a research report on Wednesday, August 23rd. Finally, BidaskClub raised Barrick Gold Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Barrick Gold Corporation has a consensus rating of “Hold” and a consensus target price of $20.59.
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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