Renaissance Technologies Lowers stake in Barrick Gold Corporation (USA) (ABX)

Barrick Gold Corporation (USA) (ABX) : Renaissance Technologies reduced its stake in Barrick Gold Corporation (USA) by 34.05% during the most recent quarter end. The investment management company now holds a total of 17,475,502 shares of Barrick Gold Corporation (USA) which is valued at $380,092,169 after selling 9,021,000 shares in Barrick Gold Corporation (USA) , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Barrick Gold Corporation (USA) makes up approximately 0.70% of Renaissance Technologies’s portfolio.

Other Hedge Funds, Including , Ubs Oconnor reduced its stake in ABX by selling 1,352,599 shares or 93.63% in the most recent quarter. The Hedge Fund company now holds 92,028 shares of ABX which is valued at $2,001,609. Barrick Gold Corporation (USA) makes up approx 0.06% of Ubs Oconnor’s portfolio.Public Sector Pension Investment Board reduced its stake in ABX by selling 565,600 shares or 21.75% in the most recent quarter. The Hedge Fund company now holds 2,035,450 shares of ABX which is valued at $44,271,038. Barrick Gold Corporation (USA) makes up approx 0.53% of Public Sector Pension Investment Board’s portfolio.Prudential Plc boosted its stake in ABX in the latest quarter, The investment management firm added 3,127,277 additional shares and now holds a total of 8,137,065 shares of Barrick Gold Corporation (USA) which is valued at $176,981,164. Barrick Gold Corporation (USA) makes up approx 0.68% of Prudential Plc’s portfolio. Bourgeon Capital Management added ABX to its portfolio by purchasing 10,000 company shares during the most recent quarter which is valued at $224,200. Barrick Gold Corporation (USA) makes up approx 0.14% of Bourgeon Capital Management’s portfolio. Oakworth Capital added ABX to its portfolio by purchasing 200 company shares during the most recent quarter which is valued at $4,110.

Barrick Gold Corporation (USA) opened for trading at $17.99 and hit $18.625 on the upside on Monday, eventually ending the session at $18.39, with a gain of 1.04% or 0.19 points. The heightened volatility saw the trading volume jump to 1,02,24,871 shares. Company has a market cap of $21,430 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.

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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