Van ECK Associates Corp Lowers Holdings in Barrick Gold Corp (ABX)

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Van ECK Associates Corp lowered its stake in shares of Barrick Gold Corp (NYSE:ABX) (TSE:ABX) by 10.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,593,728 shares of the basic materials company’s stock after selling 5,883,709 shares during the period. Barrick Gold accounts for about 3.2% of Van ECK Associates Corp’s investment portfolio, making the stock its 2nd biggest holding. Van ECK Associates Corp’s holdings in Barrick Gold were worth $690,556,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Ashler Capital LLC lifted its holdings in shares of Barrick Gold by 78.2% during the 2nd quarter. Ashler Capital LLC now owns 18,297,749 shares of the basic materials company’s stock valued at $240,249,000 after purchasing an additional 8,030,578 shares during the last quarter. Flossbach Von Storch AG lifted its holdings in shares of Barrick Gold by 13.8% during the 2nd quarter. Flossbach Von Storch AG now owns 48,397,134 shares of the basic materials company’s stock valued at $635,457,000 after purchasing an additional 5,873,410 shares during the last quarter. Toronto Dominion Bank lifted its holdings in shares of Barrick Gold by 144.4% during the 2nd quarter. Toronto Dominion Bank now owns 7,729,036 shares of the basic materials company’s stock valued at $103,335,000 after purchasing an additional 4,567,102 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Barrick Gold by 138.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,285,904 shares of the basic materials company’s stock valued at $82,534,000 after purchasing an additional 3,644,976 shares during the last quarter. Finally, Jupiter Asset Management Ltd. lifted its holdings in shares of Barrick Gold by 69.1% during the 1st quarter. Jupiter Asset Management Ltd. now owns 6,419,133 shares of the basic materials company’s stock valued at $79,918,000 after purchasing an additional 2,624,133 shares during the last quarter. Institutional investors own 52.70% of the company’s stock.

Several brokerages have recently commented on ABX. Zacks Investment Research lowered Barrick Gold from a “hold” rating to a “sell” rating in a report on Tuesday, June 26th. ValuEngine lowered Barrick Gold from a “sell” rating to a “strong sell” rating in a report on Thursday, July 26th. TD Securities set a $14.00 price objective on Barrick Gold and gave the company a “hold” rating in a report on Monday, July 30th. Citigroup upgraded Barrick Gold from a “sell” rating to a “neutral” rating and set a $11.00 price objective for the company in a report on Tuesday, August 28th. Finally, Scotiabank reiterated a “hold” rating and set a $16.00 price objective on shares of Barrick Gold in a report on Friday, July 27th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $15.18.

NYSE ABX opened at $9.84 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.22 and a current ratio of 2.12. Barrick Gold Corp has a 1 year low of $9.72 and a 1 year high of $18.35. The firm has a market capitalization of $12.16 billion, a P/E ratio of 13.12, a PEG ratio of 8.27 and a beta of -0.37.

Barrick Gold (NYSE:ABX) (TSE:ABX) last released its earnings results on Wednesday, July 25th. The basic materials company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.05). The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.74 billion. Barrick Gold had a negative net margin of 3.38% and a positive return on equity of 6.13%. Barrick Gold’s revenue was down 20.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.22 earnings per share. analysts expect that Barrick Gold Corp will post 0.63 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 17th. Shareholders of record on Friday, August 31st will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.22%. The ex-dividend date is Thursday, August 30th. Barrick Gold’s dividend payout ratio is currently 16.00%.

Barrick Gold Company Profile

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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Institutional Ownership by Quarter for Barrick Gold (NYSE:ABX)

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