Levin Capital Strategies L.P. cut its holdings in Barrick Gold Corp (NYSE:ABX) (TSE:ABX) by 1.0% in the 4th quarter, HoldingsChannel reports. The fund owned 682,598 shares of the basic materials company’s stock after selling 6,575 shares during the period. Levin Capital Strategies L.P.’s holdings in Barrick Gold were worth $9,242,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in ABX. BlackRock Inc. grew its holdings in shares of Barrick Gold by 0.3% in the second quarter. BlackRock Inc. now owns 3,342,272 shares of the basic materials company’s stock valued at $43,884,000 after acquiring an additional 11,501 shares in the last quarter. Millennium Management LLC grew its holdings in Barrick Gold by 339.0% during the second quarter. Millennium Management LLC now owns 119,966 shares of the basic materials company’s stock valued at $1,575,000 after purchasing an additional 92,642 shares during the period. Northern Trust Corp grew its holdings in Barrick Gold by 13.8% during the second quarter. Northern Trust Corp now owns 1,183,805 shares of the basic materials company’s stock valued at $15,545,000 after purchasing an additional 143,530 shares during the period. Lourd Capital LLC bought a new position in Barrick Gold during the third quarter valued at $151,000. Finally, Rathbone Brothers plc grew its holdings in Barrick Gold by 15.0% during the third quarter. Rathbone Brothers plc now owns 46,098 shares of the basic materials company’s stock valued at $510,000 after purchasing an additional 6,000 shares during the period. 56.73% of the stock is owned by institutional investors.
Several equities analysts have weighed in on the company. Jefferies Financial Group reissued a “hold” rating and set a $14.00 price objective on shares of Barrick Gold in a report on Wednesday, December 12th. Zacks Investment Research lowered Barrick Gold from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. ValuEngine raised Barrick Gold from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Royal Bank of Canada increased their price objective on Barrick Gold from $14.00 to $16.00 and gave the company a “sector perform” rating in a report on Wednesday, October 24th. Finally, Macquarie lowered Barrick Gold from an “outperform” rating to a “neutral” rating in a report on Monday, October 22nd. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company’s stock. Barrick Gold presently has an average rating of “Hold” and a consensus price target of $15.58.
NYSE:ABX opened at $13.62 on Monday. The firm has a market cap of $15.90 billion, a price-to-earnings ratio of 18.16, a P/E/G ratio of 14.29 and a beta of -0.54. Barrick Gold Corp has a 1 year low of $9.53 and a 1 year high of $15.52. The company has a current ratio of 2.65, a quick ratio of 1.42 and a debt-to-equity ratio of 0.53.
The business also recently announced a quarterly dividend, which was paid on Monday, January 14th. Shareholders of record on Friday, December 28th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, December 27th. This represents a $0.28 annualized dividend and a dividend yield of 2.06%. This is an increase from Barrick Gold’s previous quarterly dividend of $0.03. Barrick Gold’s dividend payout ratio is currently 37.33%.
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 ZaldÃvar, a copper mine located in Chile; and 50% interest in the Jabal Sayid, a copper mine located in Saudi Arabia.
Further Reading: Coverage Ratio
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