Old West Investment Management LLC grew its stake in shares of Barrick Gold Corp (NYSE:ABX) (TSE:ABX) by 1.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 777,273 shares of the basic materials company’s stock after purchasing an additional 13,467 shares during the period. Barrick Gold comprises approximately 6.6% of Old West Investment Management LLC’s portfolio, making the stock its biggest position. Old West Investment Management LLC owned about 0.07% of Barrick Gold worth $12,506,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Magnetar Financial LLC purchased a new position in shares of Barrick Gold in the 3rd quarter worth approximately $2,028,000. AMP Capital Investors Ltd boosted its stake in shares of Barrick Gold by 8.8% in the 3rd quarter. AMP Capital Investors Ltd now owns 474,472 shares of the basic materials company’s stock worth $7,618,000 after buying an additional 38,324 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in shares of Barrick Gold by 40.4% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,538,258 shares of the basic materials company’s stock worth $24,698,000 after buying an additional 442,264 shares during the last quarter. Bluestein R H & Co. purchased a new position in shares of Barrick Gold in the 3rd quarter worth approximately $350,000. Finally, Private Advisor Group LLC boosted its stake in shares of Barrick Gold by 40.1% in the 3rd quarter. Private Advisor Group LLC now owns 36,178 shares of the basic materials company’s stock worth $603,000 after buying an additional 10,350 shares during the last quarter. 55.72% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on ABX. Royal Bank Of Canada restated an “outperform” rating on shares of Barrick Gold in a research note on Thursday, September 7th. BMO Capital Markets set a $18.00 price objective on Barrick Gold and gave the company a “hold” rating in a research note on Wednesday, August 23rd. Jefferies Group reiterated a “buy” rating and issued a $20.00 price objective on shares of Barrick Gold in a research note on Thursday, September 21st. TD Securities dropped their price objective on Barrick Gold from $20.00 to $17.00 and set a “hold” rating on the stock in a research note on Monday, November 6th. Finally, Citigroup downgraded Barrick Gold from a “buy” rating to a “sell” rating and set a $13.00 price objective on the stock. in a research note on Thursday, November 30th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company. Barrick Gold has an average rating of “Hold” and a consensus target price of $18.69.
Shares of Barrick Gold Corp (NYSE:ABX) opened at $13.55 on Thursday. The company has a current ratio of 2.73, a quick ratio of 1.56 and a debt-to-equity ratio of 0.55. Barrick Gold Corp has a 1-year low of $13.46 and a 1-year high of $20.78. The stock has a market cap of $16,052.71, a price-to-earnings ratio of 18.61, a price-to-earnings-growth ratio of 9.34 and a beta of -0.42.
Barrick Gold (NYSE:ABX) (TSE:ABX) last released its quarterly earnings results on Wednesday, October 25th. The basic materials company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $2.02 billion. Barrick Gold had a return on equity of 7.73% and a net margin of 25.72%. The company’s revenue for the quarter was down 15.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 EPS. equities research analysts forecast that Barrick Gold Corp will post 0.74 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.89%. Barrick Gold’s payout ratio is currently 6.45%.
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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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