Traders Sell Shares of Barrick Gold (ABX) on Strength (ABX)

Traders sold shares of Barrick Gold Corp (NYSE:ABX) (TSE:ABX) on strength during trading hours on Thursday. $94.66 million flowed into the stock on the tick-up and $120.33 million flowed out of the stock on the tick-down, for a money net flow of $25.67 million out of the stock. Of all equities tracked, Barrick Gold had the 0th highest net out-flow for the day. Barrick Gold traded up $1.08 for the day and closed at $12.58

Several brokerages have recently issued reports on ABX. Zacks Investment Research upgraded Barrick Gold from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 3rd. ValuEngine upgraded Barrick Gold from a “sell” rating to a “hold” rating in a research report on Friday. BMO Capital Markets set a $13.00 price objective on Barrick Gold and gave the stock a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. set a $14.00 price objective on Barrick Gold and gave the stock a “hold” rating in a research report on Thursday, October 4th. Finally, Scotiabank reiterated a “hold” rating and set a $16.00 price objective on shares of Barrick Gold in a research report on Friday, July 27th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company. Barrick Gold presently has an average rating of “Hold” and a consensus price target of $15.14.

The stock has a market capitalization of $12.93 billion, a price-to-earnings ratio of 16.63, a P/E/G ratio of 9.05 and a beta of -0.37. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.12 and a quick ratio of 1.22.

Barrick Gold (NYSE:ABX) (TSE:ABX) last released its earnings results on Wednesday, July 25th. The basic materials company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.05). The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.74 billion. Barrick Gold had a positive return on equity of 6.13% and a negative net margin of 3.38%. The business’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same quarter last year, the company earned $0.22 earnings per share. As a group, research analysts forecast that Barrick Gold Corp will post 0.61 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, September 17th. Shareholders of record on Friday, August 31st were given a $0.03 dividend. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $0.12 dividend on an annualized basis and a yield of 0.96%. Barrick Gold’s dividend payout ratio (DPR) is 16.00%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Alps Advisors Inc. lifted its position in Barrick Gold by 0.8% in the second quarter. Alps Advisors Inc. now owns 596,422 shares of the basic materials company’s stock worth $7,831,000 after purchasing an additional 4,698 shares during the period. Wedbush Securities Inc. increased its holdings in shares of Barrick Gold by 30.9% in the second quarter. Wedbush Securities Inc. now owns 25,246 shares of the basic materials company’s stock valued at $331,000 after buying an additional 5,958 shares in the last quarter. Rathbone Brothers plc increased its holdings in shares of Barrick Gold by 15.0% in the third quarter. Rathbone Brothers plc now owns 46,098 shares of the basic materials company’s stock valued at $510,000 after buying an additional 6,000 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Barrick Gold by 14.0% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 61,740 shares of the basic materials company’s stock valued at $811,000 after buying an additional 7,586 shares in the last quarter. Finally, Kovack Advisors Inc. increased its holdings in shares of Barrick Gold by 43.7% in the first quarter. Kovack Advisors Inc. now owns 26,797 shares of the basic materials company’s stock valued at $334,000 after buying an additional 8,152 shares in the last quarter. Hedge funds and other institutional investors own 52.65% of the company’s stock.

About Barrick Gold (NYSE:ABX)

Barrick Gold Corporation engages in the exploration and development of mineral properties. It primarily explores for gold and copper deposits. The company holds a 50% interest in the Veladero mine located in the San Juan Province of Argentina; 50% interest in the KCGM, a gold mine located in Australia; 95% interest in Porgera, a gold mine located in Papua New Guinea; 50% interest in the Zaldívar, a copper mine located in Chile; and 50% interest in the Jabal Sayid, a copper mine located in Saudi Arabia.

Further Reading: Beta

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