PointState Capital LP Acquires New Stake in Barrick Gold Corp (ABX)

PointState Capital LP acquired a new position in shares of Barrick Gold Corp (NYSE:ABX) (TSE:ABX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 71,600 shares of the basic materials company’s stock, valued at approximately $793,000.

Several other hedge funds also recently modified their holdings of the company. Sentinel Trust Co. LBA lifted its stake in shares of Barrick Gold by 58.5% during the 3rd quarter. Sentinel Trust Co. LBA now owns 240,025 shares of the basic materials company’s stock worth $2,660,000 after buying an additional 88,600 shares during the last quarter. Man Group plc lifted its stake in shares of Barrick Gold by 2,214.7% during the 3rd quarter. Man Group plc now owns 565,528 shares of the basic materials company’s stock worth $6,266,000 after buying an additional 541,096 shares during the last quarter. BlueMountain Capital Management LLC lifted its stake in shares of Barrick Gold by 226.4% during the 3rd quarter. BlueMountain Capital Management LLC now owns 196,480 shares of the basic materials company’s stock worth $2,177,000 after buying an additional 136,285 shares during the last quarter. Capital World Investors acquired a new stake in shares of Barrick Gold during the 3rd quarter worth about $67,417,000. Finally, Capital International Sarl lifted its stake in shares of Barrick Gold by 5.5% during the 3rd quarter. Capital International Sarl now owns 2,119,100 shares of the basic materials company’s stock worth $23,480,000 after buying an additional 110,700 shares during the last quarter. 56.73% of the stock is owned by institutional investors.

A number of analysts have recently issued reports on the stock. Raymond James restated a “market perform” rating and set a $15.00 target price on shares of Barrick Gold in a research note on Friday, October 26th. BMO Capital Markets restated a “hold” rating and set a $15.00 target price on shares of Barrick Gold in a research note on Friday, September 21st. Zacks Investment Research cut shares of Barrick Gold from a “hold” rating to a “sell” rating in a research note on Tuesday, October 16th. ValuEngine upgraded shares of Barrick Gold from a “sell” rating to a “hold” rating in a research note on Friday, October 12th. Finally, Citigroup upgraded shares of Barrick Gold from a “neutral” rating to a “buy” rating and set a $14.00 target price for the company in a research note on Tuesday, September 25th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $15.19.

NYSE:ABX opened at $13.66 on Friday. Barrick Gold Corp has a 52 week low of $9.53 and a 52 week high of $15.52. The stock has a market cap of $15.95 billion, a P/E ratio of 18.21, a price-to-earnings-growth ratio of 16.17 and a beta of -0.50. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.42 and a current ratio of 2.65.

Barrick Gold (NYSE:ABX) (TSE:ABX) last released its quarterly earnings results on Wednesday, October 24th. The basic materials company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. Barrick Gold had a negative net margin of 8.75% and a positive return on equity of 5.38%. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the firm earned $0.16 earnings per share. Barrick Gold’s revenue for the quarter was down 5.0% compared to the same quarter last year. Equities research analysts anticipate that Barrick Gold Corp will post 0.42 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Friday, November 30th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Thursday, November 29th. Barrick Gold’s dividend payout ratio is 16.00%.

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Barrick Gold Company Profile

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.

See Also: Book Value Per Share – BVPS

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

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