Barrick Gold Corporation (ABX) Position Lessened by Essex Investment Management Co. LLC
Essex Investment Management Co. LLC lessened its position in Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) by 17.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 149,321 shares of the basic materials company’s stock after selling 32,405 shares during the quarter. Essex Investment Management Co. LLC’s holdings in Barrick Gold Corporation were worth $2,403,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its stake in Barrick Gold Corporation by 116.4% in the second quarter. Advisors Asset Management Inc. now owns 6,588 shares of the basic materials company’s stock valued at $105,000 after acquiring an additional 3,543 shares during the last quarter. FNY Partners Fund LP bought a new stake in shares of Barrick Gold Corporation in the second quarter worth about $159,000. F&V Capital Management LLC bought a new stake in shares of Barrick Gold Corporation in the second quarter worth about $161,000. Neuberger Berman Group LLC bought a new stake in shares of Barrick Gold Corporation in the second quarter worth about $161,000. Finally, ETRADE Capital Management LLC purchased a new stake in Barrick Gold Corporation in the second quarter worth about $180,000. 56.18% of the stock is currently owned by institutional investors and hedge funds.
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Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) last announced its quarterly earnings data on Wednesday, October 25th. The basic materials company reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.01). The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Barrick Gold Corporation had a return on equity of 7.73% and a net margin of 25.72%. The firm’s quarterly revenue was down 15.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a $0.03 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $0.12 dividend on an annualized basis and a yield of 0.85%. Barrick Gold Corporation’s payout ratio is 6.45%.
Several equities analysts have recently issued reports on the stock. Royal Bank Of Canada reiterated an “outperform” rating on shares of Barrick Gold Corporation in a report on Thursday, September 7th. BMO Capital Markets set a $18.00 price target on shares of Barrick Gold Corporation and gave the company a “hold” rating in a research report on Wednesday, August 23rd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $20.00 target price on shares of Barrick Gold Corporation in a research report on Thursday, September 21st. Zacks Investment Research downgraded shares of Barrick Gold Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, Berenberg Bank reissued a “hold” rating on shares of Barrick Gold Corporation in a research report on Tuesday, October 24th. Twelve research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $19.55.
About Barrick Gold Corporation
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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