Northern Cross Lowers stake in Barrick Gold Corporation (USA) (ABX)

Barrick Gold Corporation (USA) (ABX) : Northern Cross reduced its stake in Barrick Gold Corporation (USA) by 1.25% during the most recent quarter end. The investment management company now holds a total of 11,201,425 shares of Barrick Gold Corporation (USA) which is valued at $251,135,949 after selling 142,349 shares in Barrick Gold Corporation (USA) , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Barrick Gold Corporation (USA) makes up approximately 3.43% of Northern Cross’s portfolio.

Other Hedge Funds, Including , Rathbone Brothers Plc boosted its stake in ABX in the latest quarter, The investment management firm added 3,801 additional shares and now holds a total of 17,120 shares of Barrick Gold Corporation (USA) which is valued at $383,830. Barrick Gold Corporation (USA) makes up approx 0.02% of Rathbone Brothers Plc’s portfolio. Moody Lynn Lieberson sold out all of its stake in ABX during the most recent quarter. The investment firm sold 388,225 shares of ABX which is valued $8,486,599.Next Financial Group Inc boosted its stake in ABX in the latest quarter, The investment management firm added 7,756 additional shares and now holds a total of 51,658 shares of Barrick Gold Corporation (USA) which is valued at $1,153,007. Barrick Gold Corporation (USA) makes up approx 0.36% of Next Financial Group Inc’s portfolio.

Barrick Gold Corporation (USA) opened for trading at $21.16 and hit $21.8 on the upside on Monday, eventually ending the session at $21.42, with a gain of 0.85% or 0.18 points. The heightened volatility saw the trading volume jump to 1,22,17,655 shares. Company has a market cap of $24,961 M.

On the company’s financial health, Barrick Gold Corporation (USA) reported $0.14 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus of $0.15. The company had revenue of $2012.00 million for the quarter, compared to analysts expectations of $2073.46 million. The company’s revenue was down -9.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.01 EPS.

Investors should note that on Jul 27, 2016, Barrick Gold Corporation (USA) announced a cash dividend of $0.0200. The company’s management has announced Aug 29, 2016 as the ex-dividend date and fixed the record date on Aug 31, 2016. The payable date has been fixed on Sep 15, 2016.

Many Wall Street Analysts have commented on Barrick Gold Corporation (USA). Barrick Gold Corporation (USA) was Initiated by Morgan Stanley to “Equal-Weight” on Aug 9, 2016. Company shares were Reiterated by Barclays on Aug 8, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 22 from a previous price target of $14 .Citigroup Initiated Barrick Gold Corporation (USA) on Aug 2, 2016 to “Buy”, Price Target of the shares are set at $29.

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.

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