Contrarius Investment Management Ltd cut its stake in Barrick Gold Corp (NYSE:ABX) (TSE:ABX) by 41.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,519,695 shares of the basic materials company’s stock after selling 1,088,064 shares during the period. Barrick Gold accounts for about 0.8% of Contrarius Investment Management Ltd’s investment portfolio, making the stock its 26th biggest position. Contrarius Investment Management Ltd owned approximately 0.13% of Barrick Gold worth $19,954,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Private Vista LLC bought a new stake in shares of Barrick Gold during the first quarter worth approximately $125,000. Arlington Capital Management Inc. bought a new stake in shares of Barrick Gold during the first quarter worth approximately $206,000. Trexquant Investment LP bought a new stake in shares of Barrick Gold during the second quarter worth approximately $224,000. Timber Hill LLC raised its stake in shares of Barrick Gold by 94.5% during the first quarter. Timber Hill LLC now owns 20,580 shares of the basic materials company’s stock worth $256,000 after buying an additional 10,000 shares during the last quarter. Finally, Cypress Capital Management LLC WY bought a new stake in shares of Barrick Gold during the second quarter worth approximately $287,000. 53.07% of the stock is owned by institutional investors.

A number of equities research analysts recently weighed in on ABX shares. Jefferies Financial Group downgraded shares of Barrick Gold from a “buy” rating to a “hold” rating and dropped their price target for the stock from $17.00 to $11.00 in a research note on Monday, August 6th. Zacks Investment Research raised shares of Barrick Gold from a “sell” rating to a “hold” rating in a research note on Wednesday, July 25th. ValuEngine downgraded shares of Barrick Gold from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Scotiabank reissued a “hold” rating and set a $16.00 price target on shares of Barrick Gold in a research note on Friday, July 27th. Finally, Morgan Stanley downgraded shares of Barrick Gold from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $14.00 to $12.00 in a research note on Tuesday, June 12th. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $15.18.

Shares of NYSE ABX opened at $10.02 on Friday. The company has a market cap of $12.64 billion, a P/E ratio of 13.36, a PEG ratio of 8.99 and a beta of -0.44. The company has a quick ratio of 1.22, a current ratio of 2.12 and a debt-to-equity ratio of 0.51. Barrick Gold Corp has a 52-week low of $9.72 and a 52-week high of $18.35.

Barrick Gold (NYSE:ABX) (TSE:ABX) last issued its quarterly earnings data on Wednesday, July 25th. The basic materials company reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.05). The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.74 billion. Barrick Gold had a negative net margin of 3.38% and a positive return on equity of 6.13%. The firm’s revenue for the quarter was down 20.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.22 EPS. equities research analysts predict that Barrick Gold Corp will post 0.6 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 17th. Investors of record on Friday, August 31st will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Thursday, August 30th. Barrick Gold’s dividend payout ratio is currently 16.00%.

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.

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

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