Sentinel Trust Co. LBA Raises Position in Barrick Gold Corporation (ABX)

Sentinel Trust Co. LBA increased its stake in shares of Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) by 19.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 343,952 shares of the basic materials company’s stock after buying an additional 56,885 shares during the period. Barrick Gold Corporation makes up approximately 0.9% of Sentinel Trust Co. LBA’s investment portfolio, making the stock its 19th largest position. Sentinel Trust Co. LBA’s holdings in Barrick Gold Corporation were worth $5,473,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in ABX. State Street Corp raised its position in shares of Barrick Gold Corporation by 10.7% in the fourth quarter. State Street Corp now owns 826,813 shares of the basic materials company’s stock valued at $13,212,000 after buying an additional 80,077 shares in the last quarter. Paradigm Financial Advisors LLC raised its position in shares of Barrick Gold Corporation by 6.3% in the first quarter. Paradigm Financial Advisors LLC now owns 29,373 shares of the basic materials company’s stock valued at $557,000 after buying an additional 1,735 shares in the last quarter. Gulf International Bank UK Ltd raised its position in shares of Barrick Gold Corporation by 5.1% in the first quarter. Gulf International Bank UK Ltd now owns 362,476 shares of the basic materials company’s stock valued at $6,875,000 after buying an additional 17,650 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of Barrick Gold Corporation by 275.8% in the first quarter. Quadrant Capital Group LLC now owns 5,592 shares of the basic materials company’s stock valued at $104,000 after buying an additional 4,104 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd raised its position in shares of Barrick Gold Corporation by 15.3% in the first quarter. ANTIPODES PARTNERS Ltd now owns 1,471,766 shares of the basic materials company’s stock valued at $24,454,000 after buying an additional 195,478 shares in the last quarter. Hedge funds and other institutional investors own 57.75% of the company’s stock.

Barrick Gold Corporation (NYSE ABX) traded down 0.86% during midday trading on Friday, reaching $16.18. 4,375,475 shares of the company’s stock traded hands. The firm has a market cap of $18.86 billion, a PE ratio of 13.37 and a beta of -0.25. Barrick Gold Corporation has a 52-week low of $13.81 and a 52-week high of $22.94. The firm’s 50-day moving average is $16.06 and its 200 day moving average is $17.60. Barrick Gold Corporation also was the target of unusually large options trading activity on Thursday. Stock investors purchased 18,285 put options on the stock. This is an increase of 371% compared to the typical volume of 3,886 put options.

Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) last released its quarterly earnings data on Monday, April 24th. The basic materials company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.21 by $0.07. Barrick Gold Corporation had a net margin of 16.44% and a return on equity of 8.34%. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same period in the previous year, the firm earned $0.11 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities research analysts expect that Barrick Gold Corporation will post $0.72 earnings per share for the current fiscal year.

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Several equities analysts have recently weighed in on ABX shares. Vetr upgraded shares of Barrick Gold Corporation from a “hold” rating to a “buy” rating and set a $20.20 price objective on the stock in a report on Thursday, March 23rd. BMO Capital Markets reiterated a “buy” rating on shares of Barrick Gold Corporation in a report on Friday, March 31st. Jefferies Group LLC reiterated a “buy” rating and set a $21.00 price objective on shares of Barrick Gold Corporation in a report on Thursday, April 6th. TD Securities reiterated a “hold” rating and set a $20.00 price objective on shares of Barrick Gold Corporation in a report on Tuesday, April 25th. Finally, Scotiabank reiterated a “sector perform” rating and set a $22.50 price objective on shares of Barrick Gold Corporation in a report on Tuesday, April 25th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $22.16.

Barrick Gold Corporation Company 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.

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