Hollencrest Securities Lowers stake in Barrick Gold Corporation (USA) (ABX)

Barrick Gold Corporation (USA) (ABX) : Hollencrest Securities reduced its stake in Barrick Gold Corporation (USA) by 35.09% during the most recent quarter end. The investment management company now holds a total of 65,515 shares of Barrick Gold Corporation (USA) which is valued at $1.1 Million after selling 35,423 shares in Barrick Gold Corporation (USA) according to a report filed by the company on Apr 5, 2016 with the SEC.Barrick Gold Corporation (USA) makes up approximately 0.19% of Hollencrest Securities’s portfolio.

On the company’s financial health, Barrick Gold Corporation (USA) reported $0.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Feb 17, 2016. Analyst had a consensus of $0.06. The company had revenue of $2238.00 million for the quarter, compared to analysts expectations of $2214.79 million. The company’s revenue was down -10.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.15 EPS.

Many Wall Street Analysts have commented on Barrick Gold Corporation (USA). 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.Argus Upgraded Barrick Gold Corporation (USA) on Mar 15, 2016 to ” Buy”, Price Target of the shares are set at $18.

Barrick Gold Corporation (USA) opened for trading at $15.45 and hit $16.37 on the upside on Monday, eventually ending the session at $16.31, with a gain of 7.44% or 1.13 points. The heightened volatility saw the trading volume jump to 2,61,19,892 shares. Company has a market cap of $19,002 M.

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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