Barrick Gold Corporation (USA) (ABX) : Paradigm Financial Advisors reduced its stake in Barrick Gold Corporation (USA) by 12.1% during the most recent quarter end. The investment management company now holds a total of 38,474 shares of Barrick Gold Corporation (USA) which is valued at $821,420 after selling 5,298 shares in Barrick Gold Corporation (USA) , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Barrick Gold Corporation (USA) makes up approximately 0.48% of Paradigm Financial Advisors’s portfolio.
Other Hedge Funds, Including , Falcon Point Capital sold out all of its stake in ABX during the most recent quarter. The investment firm sold 14,217 shares of ABX which is valued $303,533.Nikko Asset Management Americas boosted its stake in ABX in the latest quarter, The investment management firm added 173,700 additional shares and now holds a total of 1,244,100 shares of Barrick Gold Corporation (USA) which is valued at $24,770,031. Barrick Gold Corporation (USA) makes up approx 2.29% of Nikko Asset Management Americas’s portfolio.Sentinel Trust Co Lba reduced its stake in ABX by selling 167,345 shares or 26.93% in the most recent quarter. The Hedge Fund company now holds 453,973 shares of ABX which is valued at $9,038,602. Barrick Gold Corporation (USA) makes up approx 1.26% of Sentinel Trust Co Lba’s portfolio.Creative Planning reduced its stake in ABX by selling 12,113 shares or 32.45% in the most recent quarter. The Hedge Fund company now holds 25,211 shares of ABX which is valued at $531,448.
Barrick Gold Corporation (USA) opened for trading at $21.65 and hit $22.1 on the upside on Friday, eventually ending the session at $21.86, with a gain of 2.77% or 0.59 points. The heightened volatility saw the trading volume jump to 1,47,74,066 shares. Company has a market cap of $25,472 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 Upgraded by Jefferies to ” Buy” on Jul 14, 2016. Barrick Gold Corporation (USA) was Upgraded by CIBC to ” Sector Outperform” on Jun 27, 2016. 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 (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.