Barrick Gold Corp (ABX) Position Lowered by Schroder Investment Management Group

Schroder Investment Management Group lowered its position in Barrick Gold Corp (NYSE:ABX) (TSE:ABX) by 25.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 857,372 shares of the basic materials company’s stock after selling 288,750 shares during the period. Schroder Investment Management Group owned about 0.07% of Barrick Gold worth $10,889,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Global X Management Co LLC boosted its stake in shares of Barrick Gold by 651.1% during the 2nd quarter. Global X Management Co LLC now owns 449,565 shares of the basic materials company’s stock worth $5,903,000 after buying an additional 389,713 shares during the last quarter. HRT Financial LLC acquired a new position in shares of Barrick Gold during the 2nd quarter worth about $172,000. Millennium Management LLC boosted its stake in shares of Barrick Gold by 339.0% during the 2nd quarter. Millennium Management LLC now owns 119,966 shares of the basic materials company’s stock worth $1,575,000 after buying an additional 92,642 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Barrick Gold by 4,895.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 34,670 shares of the basic materials company’s stock worth $455,000 after buying an additional 33,976 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Barrick Gold during the 2nd quarter worth about $1,605,000. Institutional investors and hedge funds own 52.65% of the company’s stock.

ABX has been the subject of a number of recent research reports. Morgan Stanley downgraded shares of Barrick Gold from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $14.00 to $12.00 in a research note on Tuesday, June 12th. Zacks Investment Research downgraded shares of Barrick Gold from a “hold” rating to a “sell” rating in a research note on Tuesday, June 26th. ValuEngine downgraded shares of Barrick Gold from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 26th. Scotiabank restated a “hold” rating and set a $16.00 price objective on shares of Barrick Gold in a research note on Friday, July 27th. Finally, Royal Bank of Canada downgraded shares of Barrick Gold from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $16.00 to $14.00 in a research note on Monday, July 30th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company. Barrick Gold has a consensus rating of “Hold” and a consensus target price of $15.21.

Shares of NYSE:ABX opened at $10.85 on Thursday. Barrick Gold Corp has a 52-week low of $9.53 and a 52-week high of $16.83. The stock has a market capitalization of $13.05 billion, a P/E ratio of 18.63, a PEG ratio of 9.30 and a beta of -0.37. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.12 and a quick ratio of 1.22.

Barrick Gold (NYSE:ABX) (TSE:ABX) last issued its earnings results on Wednesday, July 25th. The basic materials company reported $0.07 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.05). Barrick Gold had a negative net margin of 3.38% and a positive return on equity of 6.13%. The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the business posted $0.22 earnings per share. The company’s revenue for the quarter was down 20.7% on a year-over-year basis. sell-side analysts expect that Barrick Gold Corp will post 0.6 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, September 17th. Investors of record on Friday, August 31st were paid a $0.03 dividend. The ex-dividend date was Thursday, August 30th. This represents a $0.12 annualized dividend and a yield of 1.11%. Barrick Gold’s dividend payout ratio (DPR) is currently 16.00%.

About Barrick Gold

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.

Read More: Outstanding Shares and The Effect on Share Price

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

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