Scheer Rowlett Associates Investment Management Ltd. Lowers stake in Barrick Gold Corporation (USA) (ABX)

Barrick Gold Corporation (USA) (ABX) : Scheer Rowlett Associates Investment Management Ltd. reduced its stake in Barrick Gold Corporation (USA) by 13.92% during the most recent quarter end. The investment management company now holds a total of 3,948,623 shares of Barrick Gold Corporation (USA) which is valued at $85,882,550 after selling 638,796 shares in Barrick Gold Corporation (USA) , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Barrick Gold Corporation (USA) makes up approximately 4.84% of Scheer Rowlett Associates Investment Management Ltd.’s portfolio.

Other Hedge Funds, Including , Bluecrest Capital Management Ltd sold out all of its stake in ABX during the most recent quarter. The investment firm sold 188,100 shares of ABX which is valued $4,091,175. Shapiro Capital Management added ABX to its portfolio by purchasing 10,000 company shares during the most recent quarter which is valued at $217,500. Barrick Gold Corporation (USA) makes up approx 0.01% of Shapiro Capital Management’s portfolio.Signaturefd boosted its stake in ABX in the latest quarter, The investment management firm added 530 additional shares and now holds a total of 2,059 shares of Barrick Gold Corporation (USA) which is valued at $45,010. Barrick Gold Corporation (USA) makes up approx 0.01% of Signaturefd’s portfolio. Simplex Trading added ABX to its portfolio by purchasing 42,199 company shares during the most recent quarter which is valued at $840,182. Barrick Gold Corporation (USA) makes up approx 0.11% of Simplex Trading’s portfolio.

Barrick Gold Corporation (USA) closed down -0.13 points or -0.68% at $18.91 with 12,274,574 shares getting traded on Wednesday. Post opening the session at $18.95, the shares hit an intraday low of $18.45 and an intraday high of $19.01 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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 Initiated by Berenberg to “Sell” on Sep 7, 2016. Barrick Gold Corporation (USA) was Initiated by Morgan Stanley to “Equal-Weight” on Aug 9, 2016. Company shares were Reiterated by Barclays on Aug 8, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 22 from a previous price target of $14 .

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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