Soros Fund Management adds Barrick Gold Corporation (USA) (ABX) to its portfolio

Barrick Gold Corporation (USA) (ABX) : Soros Fund Management added new position in Barrick Gold Corporation (USA) during the most recent quarter end. The investment management firm now holds 19,419,309 shares of Barrick Gold Corporation (USA) which is valued at $422,369,971 , the company said in a statement filed on Aug 15, 2016 with the SEC.Barrick Gold Corporation (USA) makes up approximately 14.40% of Soros Fund Management’s portfolio.

Other Hedge Funds, Including , Foundation Asset Management Lp boosted its stake in ABX in the latest quarter, The investment management firm added 381,100 additional shares and now holds a total of 535,700 shares of Barrick Gold Corporation (USA) which is valued at $11,651,475. Barrick Gold Corporation (USA) makes up approx 3.62% of Foundation Asset Management Lp’s portfolio.Raymond James Financial Services Advisors boosted its stake in ABX in the latest quarter, The investment management firm added 86,730 additional shares and now holds a total of 106,812 shares of Barrick Gold Corporation (USA) which is valued at $2,323,161. Barrick Gold Corporation (USA) makes up approx 0.02% of Raymond James Financial Services Advisors’s portfolio.Dynamic Technology Lab Private Ltd reduced its stake in ABX by selling 50,290 shares or 55.14% in the most recent quarter. The Hedge Fund company now holds 40,920 shares of ABX which is valued at $890,010. Barrick Gold Corporation (USA) makes up approx 0.23% of Dynamic Technology Lab Private Ltd’s portfolio.Bnp Paribas Investment Partners S.a. reduced its stake in ABX by selling 10,446 shares or 3.94% in the most recent quarter. The Hedge Fund company now holds 254,728 shares of ABX which is valued at $5,537,787. Barrick Gold Corporation (USA) makes up approx 0.05% of Bnp Paribas Investment Partners S.a.’s portfolio.Proficio Capital Partners boosted its stake in ABX in the latest quarter, The investment management firm added 249 additional shares and now holds a total of 512 shares of Barrick Gold Corporation (USA) which is valued at $11,192. Barrick Gold Corporation (USA) makes up approx 0.01% of Proficio Capital Partners’s portfolio.

Barrick Gold Corporation (USA) opened for trading at $16.88 and hit $17.97 on the upside on Thursday, eventually ending the session at $17.8, with a gain of 4.64% or 0.79 points. The heightened volatility saw the trading volume jump to 2,25,59,096 shares. Company has a market cap of $20,743 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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