Barrick Gold Corp (ABX) Shares Bought by Cheyne Capital Management UK LLP

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Cheyne Capital Management UK LLP increased its position in shares of Barrick Gold Corp (NYSE:ABX) (TSE:ABX) by 1,468.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 392,000 shares of the basic materials company’s stock after purchasing an additional 367,000 shares during the quarter. Cheyne Capital Management UK LLP’s holdings in Barrick Gold were worth $4,343,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Alps Advisors Inc. lifted its stake in Barrick Gold by 0.8% during the second quarter. Alps Advisors Inc. now owns 596,422 shares of the basic materials company’s stock worth $7,831,000 after purchasing an additional 4,698 shares during the last quarter. Wedbush Securities Inc. lifted its stake in Barrick Gold by 30.9% during the second quarter. Wedbush Securities Inc. now owns 25,246 shares of the basic materials company’s stock worth $331,000 after purchasing an additional 5,958 shares during the last quarter. Rathbone Brothers plc lifted its stake 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 worth $510,000 after purchasing an additional 6,000 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Barrick Gold by 14.0% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 61,740 shares of the basic materials company’s stock worth $811,000 after purchasing an additional 7,586 shares during the last quarter. Finally, F&V Capital Management LLC bought a new position in Barrick Gold during the third quarter worth $111,000. Hedge funds and other institutional investors own 52.08% of the company’s stock.

A number of research firms have issued reports on ABX. ValuEngine upgraded Barrick Gold from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. TD Securities raised their target price on Barrick Gold from $15.00 to $15.50 and gave the company a “buy” rating in a research note on Wednesday, October 31st. UBS Group set a $15.00 target price on Barrick Gold and gave the company a “hold” rating in a research note on Monday, October 29th. Raymond James reiterated a “market perform” rating and issued a $15.00 target price on shares of Barrick Gold in a research note on Friday, October 26th. Finally, Royal Bank of Canada raised their target price on Barrick Gold from $14.00 to $16.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 24th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $14.81.

ABX stock opened at $13.14 on Wednesday. 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 firm has a market capitalization of $15.38 billion, a price-to-earnings ratio of 25.33, a P/E/G ratio of 15.73 and a beta of -0.57. Barrick Gold Corp has a 1 year low of $9.53 and a 1 year high of $15.52.

Barrick Gold (NYSE:ABX) (TSE:ABX) last issued its quarterly earnings results on Wednesday, October 24th. The basic materials company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.80 billion. Barrick Gold had a positive return on equity of 5.38% and a negative net margin of 8.75%. The company’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same period last year, the company earned $0.16 earnings per share. As a group, analysts predict that Barrick Gold Corp will post 0.42 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Friday, November 30th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Thursday, November 29th. Barrick Gold’s dividend payout ratio (DPR) is 16.00%.

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Barrick Gold 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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