Schroder Investment Management Group Sells 288,750 Shares of Barrick Gold Corp (ABX)
Schroder Investment Management Group cut its holdings in shares of Barrick Gold Corp (NYSE:ABX) (TSE:ABX) by 25.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 857,372 shares of the basic materials company’s stock after selling 288,750 shares during the quarter. Schroder Investment Management Group’s holdings in Barrick Gold were worth $10,889,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Private Vista LLC bought a new position in shares of Barrick Gold during the first quarter worth approximately $125,000. First City Capital Management Inc. bought a new position in shares of Barrick Gold during the second quarter worth approximately $161,000. HRT Financial LLC bought a new position in shares of Barrick Gold during the second quarter worth approximately $172,000. Ontario Teachers Pension Plan Board bought a new position in shares of Barrick Gold during the second quarter worth approximately $216,000. Finally, Trexquant Investment LP bought a new position in shares of Barrick Gold during the second quarter worth approximately $224,000. 52.65% of the stock is currently owned by institutional investors.
ABX has been the topic of several recent research reports. Morgan Stanley cut shares of Barrick Gold from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $14.00 to $12.00 in a report on Tuesday, June 12th. Zacks Investment Research cut shares of Barrick Gold from a “hold” rating to a “sell” rating in a report on Tuesday, June 26th. ValuEngine cut shares of Barrick Gold from a “sell” rating to a “strong sell” rating in a report on Thursday, July 26th. Scotiabank reaffirmed a “hold” rating and set a $16.00 target price on shares of Barrick Gold in a report on Friday, July 27th. Finally, Royal Bank of Canada cut shares of Barrick Gold from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $16.00 to $14.00 in a report on Monday, July 30th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $15.21.
Barrick Gold (NYSE:ABX) (TSE:ABX) last announced its quarterly earnings data on Wednesday, July 25th. The basic materials company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.05). The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.74 billion. Barrick Gold had a negative net margin of 3.38% and a positive return on equity of 6.13%. The business’s revenue was down 20.7% compared to the same quarter last year. During the same period last year, the business earned $0.22 earnings per share. equities analysts predict that Barrick Gold Corp will post 0.6 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 17th. Investors of record on Friday, August 31st were paid a $0.03 dividend. The ex-dividend date was Thursday, August 30th. This represents a $0.12 dividend on an annualized basis and a yield of 1.11%. Barrick Gold’s dividend payout ratio (DPR) is 16.00%.
About Barrick Gold
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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