Flossbach Von Storch AG lifted its position in shares of Barrick Gold Corp (NYSE:ABX) (TSE:ABX) by 12.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,318,684 shares of the basic materials company’s stock after purchasing an additional 5,921,550 shares during the quarter. Barrick Gold makes up about 5.5% of Flossbach Von Storch AG’s investment portfolio, making the stock its 6th largest position. Flossbach Von Storch AG owned 4.65% of Barrick Gold worth $601,857,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. F&V Capital Management LLC acquired a new stake in Barrick Gold in the 3rd quarter valued at $111,000. GWM Advisors LLC acquired a new stake in Barrick Gold in the 3rd quarter valued at $121,000. Lourd Capital LLC acquired a new stake in Barrick Gold in the 3rd quarter valued at $151,000. First City Capital Management Inc. acquired a new stake in Barrick Gold in the 2nd quarter valued at $161,000. Finally, HRT Financial LLC acquired a new stake in Barrick Gold in the 2nd quarter valued at $172,000. 52.08% of the stock is currently owned by institutional investors.
Several brokerages recently commented on ABX. Scotiabank reaffirmed a “hold” rating and issued a $16.00 price target on shares of Barrick Gold in a research note on Friday, July 27th. Raymond James reaffirmed a “market perform” rating and issued a $15.00 price target on shares of Barrick Gold in a research note on Friday, October 26th. JPMorgan Chase & Co. reduced their price objective on Barrick Gold from $15.50 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, September 17th. UBS Group set a $15.00 price objective on Barrick Gold and gave the stock a “hold” rating in a research note on Monday, October 29th. Finally, Jefferies Financial Group lowered Barrick Gold from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $17.00 to $11.00 in a research note on Monday, August 6th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the stock. Barrick Gold has an average rating of “Hold” and an average price target of $14.81.
Barrick Gold (NYSE:ABX) (TSE:ABX) last posted its quarterly earnings data on Wednesday, October 24th. The basic materials company reported $0.08 EPS for the quarter, topping 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 business’s revenue was down 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.16 earnings per share. Research analysts anticipate that Barrick Gold Corp will post 0.42 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Friday, November 30th will be given a dividend of $0.03 per share. The ex-dividend date is Thursday, November 29th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.91%. Barrick Gold’s payout ratio is currently 16.00%.
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 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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