PDT Partners LLC Invests $1.75 Million in Barrick Gold Corporation (ABX) Stock
PDT Partners LLC purchased a new position in Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 110,288 shares of the basic materials company’s stock, valued at approximately $1,753,000.
A number of other institutional investors have also recently made changes to their positions in ABX. CNA Financial Corp lifted its position in shares of Barrick Gold Corporation by 17.1% in the 2nd quarter. CNA Financial Corp now owns 150,595 shares of the basic materials company’s stock worth $2,396,000 after purchasing an additional 21,955 shares during the period. Rothschild Investment Corp IL lifted its position in shares of Barrick Gold Corporation by 148.6% in the 2nd quarter. Rothschild Investment Corp IL now owns 49,775 shares of the basic materials company’s stock worth $792,000 after purchasing an additional 29,750 shares during the period. River & Mercantile Asset Management LLP purchased a new stake in shares of Barrick Gold Corporation in the 2nd quarter worth about $1,907,000. Public Sector Pension investment Board lifted its position in shares of Barrick Gold Corporation by 23.4% in the 2nd quarter. Public Sector Pension investment Board now owns 2,309,050 shares of the basic materials company’s stock worth $36,679,000 after purchasing an additional 437,900 shares during the period. Finally, Commonwealth Bank of Australia lifted its position in shares of Barrick Gold Corporation by 146.1% in the 2nd quarter. Commonwealth Bank of Australia now owns 94,787 shares of the basic materials company’s stock worth $1,504,000 after purchasing an additional 56,270 shares during the period. 55.66% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently commented on the stock. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $21.00 target price on shares of Barrick Gold Corporation in a research report on Tuesday, July 18th. Jefferies Group LLC set a $20.00 target price on shares of Barrick Gold Corporation and gave the stock a “buy” rating in a research report on Tuesday, August 15th. Zacks Investment Research cut shares of Barrick Gold Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Raymond James Financial, Inc. reaffirmed a “market perform” rating and issued a $19.00 target price on shares of Barrick Gold Corporation in a research report on Thursday, June 15th. Finally, TD Securities reaffirmed a “hold” rating on shares of Barrick Gold Corporation in a research report on Tuesday, June 27th. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $20.72.
Barrick Gold Corporation (NYSE ABX) opened at 16.42 on Thursday. The stock has a market capitalization of $19.15 billion, a PE ratio of 8.13 and a beta of -0.34. The company’s 50-day moving average is $17.04 and its 200-day moving average is $17.07. Barrick Gold Corporation has a 12 month low of $13.81 and a 12 month high of $20.78.
Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) last issued 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. Barrick Gold Corporation had a net margin of 26.95% and a return on equity of 8.91%. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the prior year, the business earned $0.14 EPS. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. Equities research analysts forecast that Barrick Gold Corporation will post $0.74 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend was Tuesday, August 29th. Barrick Gold Corporation’s payout ratio is 5.94%.
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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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