Highland Capital Management LLC Purchases 4,550 Shares of Barrick Gold Corp (ABX)
Highland Capital Management LLC lifted its position in shares of Barrick Gold Corp (TSE:ABX) (NYSE:ABX) by 10.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,453 shares of the basic materials company’s stock after buying an additional 4,550 shares during the period. Highland Capital Management LLC’s holdings in Barrick Gold were worth $678,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Rothschild Investment Corp IL raised its holdings in Barrick Gold by 2.7% during the first quarter. Rothschild Investment Corp IL now owns 37,525 shares of the basic materials company’s stock worth $514,000 after acquiring an additional 1,000 shares in the last quarter. Gulf International Bank UK Ltd bought a new stake in Barrick Gold during the first quarter worth about $453,000. Pennsylvania Trust Co bought a new stake in Barrick Gold during the first quarter worth about $200,000. Wedbush Securities Inc. raised its holdings in Barrick Gold by 309.3% during the first quarter. Wedbush Securities Inc. now owns 87,588 shares of the basic materials company’s stock worth $1,201,000 after acquiring an additional 66,187 shares in the last quarter. Finally, Centre Asset Management LLC raised its holdings in Barrick Gold by 48.2% during the first quarter. Centre Asset Management LLC now owns 905,410 shares of the basic materials company’s stock worth $12,413,000 after acquiring an additional 294,590 shares in the last quarter.
TSE:ABX opened at C$17.70 on Friday. The company has a debt-to-equity ratio of 61.14, a quick ratio of 1.20 and a current ratio of 2.39. The company has a market capitalization of $31.01 billion and a price-to-earnings ratio of -13.37. Barrick Gold Corp has a 12-month low of C$12.54 and a 12-month high of C$19.49.
Several research firms have issued reports on ABX. Desjardins upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a C$22.00 price objective on the stock in a research note on Wednesday, March 13th. Haywood Securities upped their price objective on Barrick Gold from C$18.00 to C$19.00 in a research note on Thursday, February 14th. GMP Securities restated a “hold” rating and issued a C$17.15 price objective on shares of Barrick Gold in a research note on Wednesday, February 27th. Finally, JPMorgan Chase & Co. upped their price objective on Barrick Gold from C$17.00 to C$18.00 in a research note on Wednesday, January 9th.
Barrick Gold Profile
Barrick Gold Corporation explores for and develops mineral properties. The company primarily explores for gold, copper, and silver deposits. It holds a 50% interest in the Veladero, a gold mine located in Argentina; 50% interest in the Kalgoorlie gold mine located in Australia; 95% interest in the Porgera 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 copper mine located in Saudi Arabia.
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