Palisade Asset Management LLC continued to hold its stake in Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,150 shares of the basic materials company’s stock at the end of the second quarter. Palisade Asset Management LLC’s holdings in Barrick Gold Corporation were worth $161,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. BlackRock Inc. increased its stake in Barrick Gold Corporation by 40,554.0% in the first quarter. BlackRock Inc. now owns 23,482,163 shares of the basic materials company’s stock worth $445,925,000 after buying an additional 23,424,402 shares in the last quarter. Flossbach Von Storch AG increased its stake in Barrick Gold Corporation by 104.8% in the second quarter. Flossbach Von Storch AG now owns 26,529,688 shares of the basic materials company’s stock worth $422,088,000 after buying an additional 13,576,086 shares in the last quarter. Legal & General Group Plc increased its stake in Barrick Gold Corporation by 253,067.4% in the first quarter. Legal & General Group Plc now owns 5,124,109 shares of the basic materials company’s stock worth $97,047,000 after buying an additional 5,122,085 shares in the last quarter. Van ECK Associates Corp increased its stake in Barrick Gold Corporation by 5.5% in the first quarter. Van ECK Associates Corp now owns 74,763,721 shares of the basic materials company’s stock worth $1,419,763,000 after buying an additional 3,877,115 shares in the last quarter. Finally, FMR LLC increased its stake in Barrick Gold Corporation by 13.7% in the first quarter. FMR LLC now owns 18,633,462 shares of the basic materials company’s stock worth $353,936,000 after buying an additional 2,241,822 shares in the last quarter. 58.87% of the stock is owned by institutional investors.
Barrick Gold Corporation (NYSE ABX) opened at 17.07 on Friday. The stock’s 50 day moving average is $16.24 and its 200 day moving average is $17.56. The company has a market capitalization of $19.90 billion, a P/E ratio of 8.45 and a beta of -0.23. Barrick Gold Corporation has a 52 week low of $13.81 and a 52 week high of $22.19. Barrick Gold Corporation also was the recipient of unusually large options trading activity on Wednesday. Stock traders purchased 19,089 call options on the stock. This represents an increase of approximately 106% compared to the typical volume of 9,246 call options.
Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) last released its earnings results on Wednesday, July 26th. The basic materials company reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.05. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.03 billion. Barrick Gold Corporation had a net margin of 26.95% and a return on equity of 8.91%. The business’s revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the business earned $0.14 EPS. On average, equities research analysts expect that Barrick Gold Corporation will post $0.73 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be issued a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.70%. Barrick Gold Corporation’s dividend payout ratio (DPR) is presently 5.94%.
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A number of analysts have recently issued reports on ABX shares. Scotiabank reaffirmed a “sector perform” rating and set a $22.50 price objective on shares of Barrick Gold Corporation in a report on Tuesday, April 25th. BidaskClub downgraded shares of Barrick Gold Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, July 1st. Deutsche Bank AG reissued a “buy” rating and issued a $21.00 price target (down from $22.00) on shares of Barrick Gold Corporation in a research note on Sunday, June 25th. Berenberg Bank set a $15.00 price target on shares of Barrick Gold Corporation and gave the stock a “sell” rating in a research note on Saturday, May 27th. Finally, Jefferies Group LLC boosted their price target on shares of Barrick Gold Corporation from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, April 19th. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $20.59.
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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