Gemmer Asset Management LLC Purchases New Position in Barrick Gold Corp (ABX)

Gemmer Asset Management LLC purchased a new stake in shares of Barrick Gold Corp (NYSE:ABX) (TSE:ABX) during the first quarter, Holdings Channel reports. The institutional investor purchased 8,148 shares of the basic materials company’s stock, valued at approximately $155,000.

Several other large investors have also recently made changes to their positions in the stock. Van ECK Associates Corp increased its stake in shares of Barrick Gold Corp by 14.9% in the fourth quarter. Van ECK Associates Corp now owns 70,886,606 shares of the basic materials company’s stock valued at $1,132,768,000 after buying an additional 9,206,142 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Barrick Gold Corp by 15.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,483,703 shares of the basic materials company’s stock valued at $291,357,000 after buying an additional 2,246,450 shares during the period. Renaissance Technologies LLC increased its stake in shares of Barrick Gold Corp by 8.0% in the fourth quarter. Renaissance Technologies LLC now owns 12,252,102 shares of the basic materials company’s stock valued at $195,788,000 after buying an additional 909,100 shares during the period. Adage Capital Partners GP L.L.C. increased its stake in shares of Barrick Gold Corp by 13.0% in the third quarter. Adage Capital Partners GP L.L.C. now owns 12,192,062 shares of the basic materials company’s stock valued at $216,043,000 after buying an additional 1,400,000 shares during the period. Finally, Caxton Associates LP increased its stake in shares of Barrick Gold Corp by 104.7% in the fourth quarter. Caxton Associates LP now owns 11,340,000 shares of the basic materials company’s stock valued at $181,213,000 after buying an additional 5,800,000 shares during the period. 58.61% of the stock is owned by institutional investors.

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

Barrick Gold Corp (NYSE:ABX) traded up 1.454% during midday trading on Thursday, reaching $19.185. 9,777,747 shares of the company’s stock were exchanged. The stock has a market capitalization of $22.36 billion, a price-to-earnings ratio of 34.259 and a beta of -0.24. The stock’s 50-day moving average is $18.99 and its 200-day moving average is $17.36. Barrick Gold Corp has a 12-month low of $13.81 and a 12-month high of $23.47.

Barrick Gold Corp (NYSE:ABX) last released its quarterly earnings results on Wednesday, February 15th. The basic materials company reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.02. The company had revenue of $2.32 million for the quarter, compared to analyst estimates of $2.27 billion. Barrick Gold Corp had a negative net margin of 28.22% and a positive return on equity of 6.81%. On average, equities analysts forecast that Barrick Gold Corp will post $0.82 earnings per share for the current year.

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ABX has been the subject of several analyst reports. TD Securities downgraded shares of Barrick Gold Corp from a “buy” rating to a “hold” rating and reduced their price target for the company from $25.00 to $18.00 in a research report on Wednesday, December 21st. Jefferies Group LLC reissued a “buy” rating and set a $24.00 price target (up previously from $21.00) on shares of Barrick Gold Corp in a research report on Wednesday. Vetr downgraded shares of Barrick Gold Corp from a “buy” rating to a “hold” rating and set a $19.65 price target for the company. in a research report on Monday, February 6th. Zacks Investment Research downgraded shares of Barrick Gold Corp from a “hold” rating to a “sell” rating in a research report on Monday, February 13th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $19.00 price target on shares of Barrick Gold Corp in a research report on Tuesday, January 3rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $22.86.

Barrick Gold Corp Company Profile

Barrick Gold Corporation (Barrick) is a gold mining company. The Company is principally engaged in the production and sale of gold and copper, as well as related activities, such as exploration and mine development. The Company’s segments include Goldstrike, Cortez, Pueblo Viejo, Lagunas Norte, Veladero, Turquoise Ridge, Acacia Mining plc (Acacia), Pascua-Lama and Other Mines.

5 Day Chart for NYSE:ABX

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