Bridgewater Associates Lp Lowers stake in Barrick Gold Corporation (USA) (ABX)

Barrick Gold Corporation (USA) (ABX) : Bridgewater Associates Lp reduced its stake in Barrick Gold Corporation (USA) by 30.83% during the most recent quarter end. The investment management company now holds a total of 1,209,103 shares of Barrick Gold Corporation (USA) which is valued at $22.3 Million after selling 539,000 shares in Barrick Gold Corporation (USA) , the firm said in a disclosure report filed with the SEC on May 13, 2016.Barrick Gold Corporation (USA) makes up approximately 0.29% of Bridgewater Associates Lp’s portfolio.

Other Hedge Funds, Including , Marathon Trading Investment Management added ABX to its portfolio by purchasing 29,257 company shares during the most recent quarter which is valued at $538,621. Barrick Gold Corporation (USA) makes up approx 0.62% of Marathon Trading Investment Management’s portfolio.First City Capital Management boosted its stake in ABX in the latest quarter, The investment management firm added 12,000 additional shares and now holds a total of 12,384 shares of Barrick Gold Corporation (USA) which is valued at $227,989. Barrick Gold Corporation (USA) makes up approx 0.15% of First City Capital Management’s portfolio. Numeric Investors added ABX to its portfolio by purchasing 351,700 company shares during the most recent quarter which is valued at $6.5 Million. Barrick Gold Corporation (USA) makes up approx 0.07% of Numeric Investors’s portfolio. Princeton Alpha Management Lp added ABX to its portfolio by purchasing 63,231 company shares during the most recent quarter which is valued at $1.2 Million. Barrick Gold Corporation (USA) makes up approx 0.19% of Princeton Alpha Management Lp’s portfolio.Whittier Trust Co boosted its stake in ABX in the latest quarter, The investment management firm added 1,303 additional shares and now holds a total of 1,416 shares of Barrick Gold Corporation (USA) which is valued at $27,428.

Barrick Gold Corporation (USA) opened for trading at $16.71 and hit $17.49 on the upside on Wednesday, eventually ending the session at $17.28, with a gain of 2.19% or 0.37 points. The heightened volatility saw the trading volume jump to 2,16,50,109 shares. Company has a market cap of $20,131 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.

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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