Goodhaven Capital Management Lowers stake in Barrick Gold Corporation (USA) (ABX)

Barrick Gold Corporation (USA) (ABX) : Goodhaven Capital Management reduced its stake in Barrick Gold Corporation (USA) by 5.56% during the most recent quarter end. The investment management company now holds a total of 3,057,585 shares of Barrick Gold Corporation (USA) which is valued at $56.3 Million after selling 180,000 shares in Barrick Gold Corporation (USA) , the firm said in a disclosure report filed with the SEC on May 12, 2016.Barrick Gold Corporation (USA) makes up approximately 19.36% of Goodhaven Capital Management’s portfolio.

Other Hedge Funds, Including , First Allied Advisory Services boosted its stake in ABX in the latest quarter, The investment management firm added 217 additional shares and now holds a total of 15,547 shares of Barrick Gold Corporation (USA) which is valued at $286,220. Barrick Gold Corporation (USA) makes up approx 0.02% of First Allied Advisory Services’s portfolio. Ayalon Holdings Ltd. sold out all of its stake in ABX during the most recent quarter. The investment firm sold 2 shares of ABX which is valued $37. Integrated Wealth Counsel sold out all of its stake in ABX during the most recent quarter. The investment firm sold 100 shares of ABX which is valued $1,847.Geneva Advisors boosted its stake in ABX in the latest quarter, The investment management firm added 1,875 additional shares and now holds a total of 22,385 shares of Barrick Gold Corporation (USA) which is valued at $413,451. Barrick Gold Corporation (USA) makes up approx 0.01% of Geneva Advisors’s portfolio.Oxbow Advisors reduced its stake in ABX by selling 19 shares or 0.04% in the most recent quarter. The Hedge Fund company now holds 50,129 shares of ABX which is valued at $925,883. Barrick Gold Corporation (USA) makes up approx 0.13% of Oxbow Advisors’s portfolio.

Barrick Gold Corporation (USA) opened for trading at $18.3 and hit $18.47 on the upside on Friday, eventually ending the session at $18.2, with a gain of 0.28% or 0.05 points. The heightened volatility saw the trading volume jump to 1,50,01,716 shares. Company has a market cap of $21,203 M.

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.

Investors should note that on Apr 26, 2016, Barrick Gold Corporation (USA) announced a cash dividend of $0.0200. The company’s management has announced May 26, 2016 as the ex-dividend date and fixed the record date on May 31, 2016. The payable date has been fixed on Jun 15, 2016.

Many Wall Street Analysts have commented on Barrick Gold Corporation (USA). 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 (USA) was Upgraded by Credit Suisse to ” Outperform” on Apr 8, 2016. Deutsche Bank Downgraded Barrick Gold Corporation (USA) on Mar 23, 2016 to ” Hold”, Price Target of the shares are set at $14.50.

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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