Capital Innovations LLC Raises Stake in Barrick Gold Corporation (ABX)

Capital Innovations LLC lifted its stake in shares of Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) by 116.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,655 shares of the basic materials company’s stock after acquiring an additional 11,655 shares during the quarter. Capital Innovations LLC’s holdings in Barrick Gold Corporation were worth $344,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. FNY Managed Accounts LLC purchased a new position in shares of Barrick Gold Corporation during the first quarter worth approximately $116,000. Advisors Asset Management Inc. increased its position in shares of Barrick Gold Corporation by 116.4% during the second quarter. Advisors Asset Management Inc. now owns 6,588 shares of the basic materials company’s stock worth $105,000 after acquiring an additional 3,543 shares during the period. FNY Partners Fund LP purchased a new position in shares of Barrick Gold Corporation during the second quarter worth approximately $159,000. F&V Capital Management LLC purchased a new position in shares of Barrick Gold Corporation during the second quarter worth approximately $161,000. Finally, Neuberger Berman Group LLC purchased a new position in shares of Barrick Gold Corporation during the second quarter worth approximately $161,000. 55.70% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have recently commented on ABX. Royal Bank Of Canada reaffirmed a “buy” rating and set a $21.00 target price on shares of Barrick Gold Corporation in a research report on Tuesday, July 18th. Jefferies Group LLC set a $20.00 target price on shares of Barrick Gold Corporation and gave the stock a “buy” rating in a research report on Tuesday, August 15th. Zacks Investment Research downgraded shares of Barrick Gold Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Raymond James Financial, Inc. reiterated a “market perform” rating and set a $19.00 price objective on shares of Barrick Gold Corporation in a research note on Thursday, June 15th. Finally, TD Securities reiterated a “hold” rating on shares of Barrick Gold Corporation in a research note on Tuesday, June 27th. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Barrick Gold Corporation has an average rating of “Hold” and an average target price of $20.15.

Shares of Barrick Gold Corporation (ABX) traded up 0.150% during midday trading on Tuesday, reaching $16.725. 2,656,253 shares of the company’s stock traded hands. Barrick Gold Corporation has a 1-year low of $13.81 and a 1-year high of $20.78. The firm’s 50-day moving average price is $17.02 and its 200 day moving average price is $16.99. The stock has a market capitalization of $19.50 billion, a P/E ratio of 8.280 and a beta of -0.33.

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, beating the Zacks’ consensus estimate of $0.17 by $0.05. Barrick Gold Corporation had a net margin of 26.95% and a return on equity of 8.91%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the firm posted $0.14 EPS. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, equities analysts predict that Barrick Gold Corporation will post $0.75 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date was Tuesday, August 29th. Barrick Gold Corporation’s dividend payout ratio is presently 5.94%.

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Barrick Gold Corporation Profile

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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