Highstreet Asset Management Inc. increased its stake in Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) by 862.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,131 shares of the basic materials company’s stock after buying an additional 33,272 shares during the period. Highstreet Asset Management Inc.’s holdings in Barrick Gold Corporation were worth $591,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the company. Advisors Asset Management Inc. raised its stake 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 buying an additional 3,543 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of Barrick Gold Corporation by 9.9% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 5,608 shares of the basic materials company’s stock valued at $106,000 after buying an additional 506 shares in the last quarter. FNY Managed Accounts LLC bought a new stake in shares of Barrick Gold Corporation during the first quarter valued at $116,000. Gemmer Asset Management LLC bought a new stake in shares of Barrick Gold Corporation during the first quarter valued at $155,000. Finally, F&V Capital Management LLC bought a new stake in shares of Barrick Gold Corporation during the second quarter valued at $161,000. 58.68% of the stock is currently owned by hedge funds and other institutional investors.
Barrick Gold Corporation (NYSE:ABX) opened at 16.85 on Friday. Barrick Gold Corporation has a 52 week low of $13.81 and a 52 week high of $20.78. The company’s 50-day moving average price is $16.33 and its 200 day moving average price is $17.52. The company has a market cap of $19.65 billion, a PE ratio of 8.34 and a beta of -0.23.
Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) last announced its quarterly earnings data on Wednesday, July 26th. The basic materials company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the firm earned $0.14 earnings per share. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, analysts anticipate that Barrick Gold Corporation will post $0.73 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be paid a $0.03 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $0.12 dividend on an annualized basis and a yield of 0.71%. Barrick Gold Corporation’s payout ratio is 5.94%.
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Several equities research analysts have weighed in on ABX shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $24.00 target price on shares of Barrick Gold Corporation in a research report on Wednesday, June 21st. Royal Bank Of Canada reissued a “buy” rating and issued a $21.00 price target on shares of Barrick Gold Corporation in a research note on Tuesday, June 13th. Deutsche Bank AG reissued a “buy” rating and issued a $21.00 price target (down previously from $22.00) on shares of Barrick Gold Corporation in a research note on Sunday, June 25th. Barclays PLC reissued an “equal weight” rating and issued a $20.00 price target (down previously from $22.00) on shares of Barrick Gold Corporation in a research note on Thursday, June 1st. Finally, BidaskClub raised Barrick Gold Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 24th. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average 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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