Cumberland Partners Ltd Has $7.41 Million Position in Barrick Gold Corporation (NYSE:ABX)
Cumberland Partners Ltd boosted its stake in shares of Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) by 2.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 466,577 shares of the basic materials company’s stock after buying an additional 9,700 shares during the period. Cumberland Partners Ltd’s holdings in Barrick Gold Corporation were worth $7,414,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quadrant Capital Group LLC boosted its stake in Barrick Gold Corporation by 275.8% in the first quarter. Quadrant Capital Group LLC now owns 5,592 shares of the basic materials company’s stock valued at $104,000 after buying an additional 4,104 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Barrick Gold Corporation by 9.9% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 5,608 shares of the basic materials company’s stock valued at $106,000 after buying an additional 506 shares in the last quarter. FNY Managed Accounts LLC bought a new stake in Barrick Gold Corporation during the first quarter valued at about $116,000. Gemmer Asset Management LLC bought a new stake in Barrick Gold Corporation during the first quarter valued at about $155,000. Finally, F&V Capital Management LLC bought a new stake in Barrick Gold Corporation during the second quarter valued at about $161,000. Institutional investors and hedge funds own 58.87% of the company’s stock.
Shares of Barrick Gold Corporation (NYSE ABX) opened at 17.07 on Friday. The company has a 50 day moving average of $16.24 and a 200-day moving average of $17.56. Barrick Gold Corporation has a 12-month low of $13.81 and a 12-month high of $22.19. The firm has a market cap of $19.90 billion, a PE ratio of 8.45 and a beta of -0.23. Barrick Gold Corporation also was the recipient of unusually large options trading on Wednesday. Investors bought 19,089 call options on the company. This represents an increase of 106% compared to the typical volume of 9,246 call options.
Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) last announced its quarterly earnings data on Wednesday, July 26th. The basic materials company reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.05. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.03 billion. Barrick Gold Corporation had a return on equity of 8.91% and a net margin of 26.95%. The company’s revenue was up 7.4% on a year-over-year basis. During the same period last year, the company earned $0.14 earnings per share. Equities research analysts forecast that Barrick Gold Corporation will post $0.73 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be given a dividend of $0.03 per share. The ex-dividend date is Tuesday, August 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.70%. Barrick Gold Corporation’s payout ratio is currently 5.94%.
ABX has been the topic of several recent analyst reports. Scotiabank reaffirmed a “sector perform” rating and issued a $22.50 price target on shares of Barrick Gold Corporation in a report on Tuesday, April 25th. BidaskClub cut shares of Barrick Gold Corporation from a “hold” rating to a “sell” rating in a report on Saturday, July 1st. Deutsche Bank AG reaffirmed a “buy” rating and issued a $21.00 price target (down from $22.00) on shares of Barrick Gold Corporation in a report on Sunday, June 25th. Berenberg Bank set a $15.00 price target on shares of Barrick Gold Corporation and gave the company a “sell” rating in a report on Saturday, May 27th. Finally, Jefferies Group LLC upped their price target on shares of Barrick Gold Corporation from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, April 19th. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Barrick Gold Corporation presently has an average rating of “Hold” and an average price target of $20.59.
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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