PNC Financial Services Group Inc. cut its holdings in shares of Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) by 8.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,255 shares of the basic materials company’s stock after selling 3,760 shares during the period. PNC Financial Services Group Inc.’s holdings in Barrick Gold Corporation were worth $689,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Advisors Asset Management Inc. lifted its stake in Barrick Gold Corporation by 116.4% during the second quarter. Advisors Asset Management Inc. now owns 6,588 shares of the basic materials company’s stock worth $105,000 after purchasing an additional 3,543 shares during the last quarter. FNY Managed Accounts LLC bought a new stake in Barrick Gold Corporation during the first quarter worth $116,000. FNY Partners Fund LP bought a new stake in Barrick Gold Corporation during the second quarter worth $159,000. F&V Capital Management LLC bought a new stake in Barrick Gold Corporation during the second quarter worth $161,000. Finally, Neuberger Berman Group LLC bought a new stake in Barrick Gold Corporation during the second quarter worth $161,000. Hedge funds and other institutional investors own 55.70% of the company’s stock.
Several equities research analysts have weighed in on the company. TD Securities set a $20.00 target price on Barrick Gold Corporation and gave the stock a “hold” rating in a research note on Thursday. Credit Suisse Group restated a “buy” rating and set a $22.00 target price on shares of Barrick Gold Corporation in a research note on Sunday, September 24th. Jefferies Group LLC restated a “buy” rating and set a $20.00 target price on shares of Barrick Gold Corporation in a research note on Thursday, September 21st. Royal Bank Of Canada restated an “outperform” rating on shares of Barrick Gold Corporation in a research note on Thursday, September 7th. Finally, Citigroup Inc. restated a “buy” rating on shares of Barrick Gold Corporation in a research note on Wednesday, September 6th. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $20.15.
Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) last released its quarterly earnings results on Wednesday, July 26th. The basic materials company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 26.95% and a return on equity of 8.91%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.14 EPS.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.72%. Barrick Gold Corporation’s dividend payout ratio (DPR) is currently 5.94%.
Barrick Gold Corporation Company Profile
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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