Sciencast Management LP Buys New Stake in Barrick Gold (NYSE:ABX)

Sciencast Management LP purchased a new position in shares of Barrick Gold (NYSE:ABX) (TSE:ABX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 39,179 shares of the basic materials company’s stock, valued at approximately $566,000.

A number of other institutional investors have also made changes to their positions in the stock. State Street Corp raised its stake in shares of Barrick Gold by 25.1% in the 2nd quarter. State Street Corp now owns 1,079,473 shares of the basic materials company’s stock valued at $17,174,000 after purchasing an additional 216,869 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Barrick Gold by 22.0% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 51,342 shares of the basic materials company’s stock valued at $826,000 after purchasing an additional 9,264 shares in the last quarter. Keybank National Association OH raised its stake in shares of Barrick Gold by 53.1% in the 3rd quarter. Keybank National Association OH now owns 24,637 shares of the basic materials company’s stock valued at $396,000 after purchasing an additional 8,545 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in Barrick Gold by 7.9% during the third quarter. DekaBank Deutsche Girozentrale now owns 552,890 shares of the basic materials company’s stock worth $9,365,000 after acquiring an additional 40,656 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in Barrick Gold by 19.4% during the third quarter. Russell Investments Group Ltd. now owns 3,738,575 shares of the basic materials company’s stock worth $60,039,000 after acquiring an additional 608,374 shares during the period. 52.89% of the stock is owned by hedge funds and other institutional investors.

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ABX has been the topic of several research reports. Zacks Investment Research lowered shares of Barrick Gold from a “hold” rating to a “sell” rating in a research note on Tuesday, January 30th. TD Securities raised their price target on shares of Barrick Gold from $17.00 to $17.50 and gave the company a “hold” rating in a research note on Friday, January 12th. BMO Capital Markets set a $16.00 price target on shares of Barrick Gold and gave the company a “hold” rating in a research note on Tuesday, December 19th. Morgan Stanley dropped their price target on shares of Barrick Gold from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 28th. Finally, Citigroup set a $11.00 price objective on shares of Barrick Gold and gave the company a “sell” rating in a report on Thursday, March 1st. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and four have assigned a buy rating to the company’s stock. Barrick Gold has an average rating of “Hold” and an average target price of $16.80.

ABX stock opened at $12.69 on Friday. The company has a market capitalization of $14,609.50, a price-to-earnings ratio of 16.92, a P/E/G ratio of 7.42 and a beta of -0.17. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.68 and a quick ratio of 1.60. Barrick Gold has a 12-month low of $11.07 and a 12-month high of $20.36.

Barrick Gold (NYSE:ABX) (TSE:ABX) last released its quarterly earnings results on Wednesday, February 14th. The basic materials company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.21 billion. Barrick Gold had a net margin of 17.17% and a return on equity of 7.59%. Barrick Gold’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.22 EPS. research analysts expect that Barrick Gold will post 0.84 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Wednesday, February 28th were issued a $0.03 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $0.12 annualized dividend and a yield of 0.95%. Barrick Gold’s dividend payout ratio (DPR) is presently 16.00%.

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About Barrick Gold

Barrick Gold Corporation engages in the exploration and development of mineral properties. It primarily explores for gold and copper deposits. The company holds a 50% interest in the Veladero mine located in the San Juan Province of Argentina; 50% interest in the KCGM, a gold mine located in Australia; 95% interest in Porgera, a gold mine located in Papua New Guinea; 50% interest in the Zaldívar, a copper mine located in Chile; and 50% interest in the Jabal Sayid, a copper mine located in Saudi Arabia.

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

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