Gotham Asset Management LLC Cuts Stake in Barrick Gold Corporation (NYSE:ABX)

Gotham Asset Management LLC reduced its position in shares of Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) by 16.4% during the first quarter, according to its most recent filing with the SEC. The fund owned 414,720 shares of the basic materials company’s stock after selling 81,131 shares during the period. Gotham Asset Management LLC’s holdings in Barrick Gold Corporation were worth $7,876,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Comerica Bank boosted its position in Barrick Gold Corporation by 7.2% in the fourth quarter. Comerica Bank now owns 138,534 shares of the basic materials company’s stock worth $2,337,000 after buying an additional 9,361 shares in the last quarter. State Street Corp boosted its position in Barrick Gold Corporation by 10.7% in the fourth quarter. State Street Corp now owns 826,813 shares of the basic materials company’s stock worth $13,212,000 after buying an additional 80,077 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in Barrick Gold Corporation by 3.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 36,152 shares of the basic materials company’s stock worth $578,000 after buying an additional 1,296 shares in the last quarter. Trexquant Investment LP purchased a new position in Barrick Gold Corporation during the fourth quarter worth approximately $217,000. Finally, Brown Advisory Inc. boosted its position in Barrick Gold Corporation by 5.5% in the fourth quarter. Brown Advisory Inc. now owns 87,310 shares of the basic materials company’s stock worth $1,395,000 after buying an additional 4,537 shares in the last quarter. 57.75% of the stock is currently owned by institutional investors and hedge funds.

Shares of Barrick Gold Corporation (NYSE ABX) opened at 16.11 on Wednesday. The company has a market cap of $18.78 billion, a P/E ratio of 13.31 and a beta of -0.25. Barrick Gold Corporation has a 12 month low of $13.81 and a 12 month high of $22.94. The company’s 50 day moving average is $16.37 and its 200 day moving average is $17.50.

Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) last posted its earnings results on Monday, April 24th. The basic materials company reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.07. Barrick Gold Corporation had a net margin of 16.44% and a return on equity of 8.34%. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same period in the previous year, the company earned $0.11 EPS. The company’s revenue was up 3.3% on a year-over-year basis. On average, equities research analysts predict that Barrick Gold Corporation will post $0.72 EPS for the current fiscal year.

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A number of research analysts recently commented on ABX shares. Vetr raised Barrick Gold Corporation from a “hold” rating to a “buy” rating and set a $20.20 target price on the stock in a research note on Thursday, March 23rd. BMO Capital Markets reaffirmed a “buy” rating on shares of Barrick Gold Corporation in a research note on Friday, March 31st. Jefferies Group LLC reaffirmed a “buy” rating and set a $21.00 price objective on shares of Barrick Gold Corporation in a research note on Thursday, April 6th. TD Securities reaffirmed a “hold” rating and set a $20.00 price objective on shares of Barrick Gold Corporation in a research note on Tuesday, April 25th. Finally, Scotiabank reaffirmed a “sector perform” rating and set a $22.50 price objective on shares of Barrick Gold Corporation in a research note on Tuesday, April 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. Barrick Gold Corporation currently has a consensus rating of “Hold” and an average target price of $22.16.

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.

Institutional Ownership by Quarter for Barrick Gold Corporation (NYSE:ABX)

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