Commonwealth Bank of Australia Purchases 10,302 Shares of Barrick Gold Corp (ABX)
Commonwealth Bank of Australia raised its position in shares of Barrick Gold Corp (NYSE:ABX) (TSE:ABX) by 4.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 227,709 shares of the basic materials company’s stock after buying an additional 10,302 shares during the quarter. Commonwealth Bank of Australia’s holdings in Barrick Gold were worth $2,515,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Stevens Capital Management LP purchased a new position in shares of Barrick Gold in the 2nd quarter worth about $1,582,000. BlueMountain Capital Management LLC purchased a new position in shares of Barrick Gold in the 2nd quarter worth about $790,000. Ronna Sue Cohen purchased a new position in shares of Barrick Gold in the 3rd quarter worth about $222,000. Nomura Holdings Inc. raised its position in shares of Barrick Gold by 351.6% in the 2nd quarter. Nomura Holdings Inc. now owns 184,254 shares of the basic materials company’s stock worth $2,420,000 after purchasing an additional 257,484 shares during the last quarter. Finally, Greenline Partners LLC raised its position in shares of Barrick Gold by 2.6% in the 3rd quarter. Greenline Partners LLC now owns 568,519 shares of the basic materials company’s stock worth $6,319,000 after purchasing an additional 14,140 shares during the last quarter. 56.44% of the stock is owned by institutional investors and hedge funds.
ABX has been the subject of several recent analyst reports. Deutsche Bank set a $15.00 price target on Barrick Gold and gave the stock a “buy” rating in a research report on Tuesday, October 2nd. JPMorgan Chase & Co. set a $14.00 price target on Barrick Gold and gave the stock a “hold” rating in a research report on Thursday, October 4th. ValuEngine raised Barrick Gold from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Jefferies Financial Group lowered Barrick Gold from a “buy” rating to a “hold” rating and lowered their price target for the stock from $17.00 to $11.00 in a research report on Monday, August 6th. Finally, TD Securities lifted their price target on Barrick Gold from $15.00 to $15.50 and gave the stock a “buy” rating in a research report on Wednesday, October 31st. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $14.96.
Barrick Gold (NYSE:ABX) (TSE:ABX) last released its quarterly earnings data on Wednesday, October 24th. The basic materials company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. Barrick Gold had a positive return on equity of 5.38% and a negative net margin of 8.75%. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period last year, the company earned $0.16 EPS. Barrick Gold’s revenue for the quarter was down 5.0% on a year-over-year basis. On average, sell-side analysts expect that Barrick Gold Corp will post 0.42 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Friday, November 30th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.12 annualized dividend and a yield of 0.92%. Barrick Gold’s payout ratio is 16.00%.
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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 ZaldÃvar, a copper mine located in Chile; and 50% interest in the Jabal Sayid, a copper mine located in Saudi Arabia.
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