Barrick Gold Corp (ABX) Stake Cut by Chelsea Counsel Co.
Chelsea Counsel Co. cut its stake in Barrick Gold Corp (NYSE:ABX) (TSE:ABX) by 0.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 38,505 shares of the basic materials company’s stock after selling 5 shares during the period. Chelsea Counsel Co.’s holdings in Barrick Gold Corp were worth $731,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in ABX. Quadrant Capital Group LLC raised its position in shares of Barrick Gold Corp by 275.8% in the first quarter. Quadrant Capital Group LLC now owns 5,592 shares of the basic materials company’s stock worth $104,000 after buying an additional 4,104 shares during the period. Acrospire Investment Management LLC raised its position in shares of Barrick Gold Corp by 43.5% in the third quarter. Acrospire Investment Management LLC now owns 6,600 shares of the basic materials company’s stock worth $117,000 after buying an additional 2,000 shares during the period. 1832 Asset Management L.P. raised its position in shares of Barrick Gold Corp by 11.4% in the third quarter. 1832 Asset Management L.P. now owns 7,822 shares of the basic materials company’s stock worth $139,000 after buying an additional 802 shares during the period. Gemmer Asset Management LLC bought a new position in shares of Barrick Gold Corp during the first quarter worth $155,000. Finally, Fore Research & Management LP bought a new position in shares of Barrick Gold Corp during the fourth quarter worth $159,000. 58.61% of the stock is owned by hedge funds and other institutional investors.
Barrick Gold Corp (NYSE:ABX) traded up 1.53% during midday trading on Thursday, hitting $19.20. 11,572,776 shares of the stock traded hands. The stock has a market cap of $22.38 billion, a PE ratio of 34.29 and a beta of -0.24. Barrick Gold Corp has a 1-year low of $13.81 and a 1-year high of $23.47. The company has a 50-day moving average of $18.98 and a 200-day moving average of $17.35.
Barrick Gold Corp (NYSE:ABX) last announced its earnings results on Wednesday, February 15th. The basic materials company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. The business earned $2.32 million during the quarter, compared to analysts’ expectations of $2.27 billion. Barrick Gold Corp had a negative net margin of 28.22% and a positive return on equity of 6.81%. On average, equities analysts expect that Barrick Gold Corp will post $0.82 EPS for the current fiscal year.
A number of brokerages have weighed in on ABX. Jefferies Group LLC lifted their price target on shares of Barrick Gold Corp from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday. Vetr lowered shares of Barrick Gold Corp from a “strong-buy” rating to a “buy” rating and set a $21.75 target price on the stock. in a report on Monday, April 10th. BMO Capital Markets restated a “buy” rating on shares of Barrick Gold Corp in a report on Friday, March 31st. Royal Bank of Canada upgraded shares of Barrick Gold Corp from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $19.00 to $23.00 in a report on Thursday, March 16th. They noted that the move was a valuation call. Finally, Barclays PLC lifted their target price on shares of Barrick Gold Corp from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Monday, March 6th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $22.86.
About Barrick Gold Corp
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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