Barrick Gold Corporation (USA) (ABX) : New Harbor Financial Group scooped up 34,920 additional shares in Barrick Gold Corporation (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 19, 2016. The investment management firm now holds a total of 35,120 shares of Barrick Gold Corporation (USA) which is valued at $699,239.Barrick Gold Corporation (USA) makes up approximately 0.96% of New Harbor Financial Group’s portfolio.
Other Hedge Funds, Including , Nikko Asset Management Americas boosted its stake in ABX in the latest quarter, The investment management firm added 173,700 additional shares and now holds a total of 1,244,100 shares of Barrick Gold Corporation (USA) which is valued at $24,770,031. Barrick Gold Corporation (USA) makes up approx 2.29% of Nikko Asset Management Americas’s portfolio.Fox Run Management L.l.c. reduced its stake in ABX by selling 7,900 shares or 40.72% in the most recent quarter. The Hedge Fund company now holds 11,500 shares of ABX which is valued at $228,965. Barrick Gold Corporation (USA) makes up approx 0.11% of Fox Run Management L.l.c.’s portfolio.Foundation Resource Management Inc reduced its stake in ABX by selling 10,330 shares or 1.94% in the most recent quarter. The Hedge Fund company now holds 521,326 shares of ABX which is valued at $11,635,996. Barrick Gold Corporation (USA) makes up approx 2.15% of Foundation Resource Management Inc’s portfolio.
Barrick Gold Corporation (USA) closed down -1.66 points or -7.70% at $19.91 with 2,46,64,918 shares getting traded on Wednesday. Post opening the session at $21.02, the shares hit an intraday low of $19.835 and an intraday high of $21.07 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
On the company’s financial health, Barrick Gold Corporation (USA) reported $0.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.10. The company had revenue of $1930.00 million for the quarter, compared to analysts expectations of $1992.95 million. The company’s revenue was down -14.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.05 EPS.
Many Wall Street Analysts have commented on Barrick Gold Corporation (USA). Barrick Gold Corporation (USA) was Upgraded by Jefferies to ” Buy” on Jul 14, 2016. Barrick Gold Corporation (USA) was Upgraded by CIBC to ” Sector Outperform” on Jun 27, 2016. Company shares were Reiterated by RBC Capital Mkts on May 9, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 18 from a previous price target of $16 .
Barrick Gold Corporation (Barrick) is a gold mining company. The Company is engaged in the production and sale of gold and copper as well as related activities such as exploration and mine development. The Company operates in segments: eight individual gold mines Acacia and Pascua-Lama project. The remaining operating segments have been grouped into two other categories: its remaining gold mines and its two copper mines. The Company sells its production in the world market through the distribution channels: gold bullion is sold in the gold spot market; gold and copper concentrate is sold to independent smelting companies and copper cathode is sold to various manufacturers and traders. The Company has 14 producing gold mines located in Canada the United States Peru Argentina Australia the Dominican Republic and Papua New Guinea. It also holds a 63.9% equity interest in Acacia Mining plc (Acacia) that owns gold mines and exploration properties in Africa.