Wexford Capital LP Acquires New Position in Barrick Gold Corp (ABX)

Wexford Capital LP acquired a new stake in shares of Barrick Gold Corp (NYSE:ABX) (TSE:ABX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,517,506 shares of the basic materials company’s stock, valued at approximately $27,894,000. Barrick Gold accounts for about 1.8% of Wexford Capital LP’s holdings, making the stock its 9th largest holding.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Flossbach Von Storch AG lifted its stake in shares of Barrick Gold by 12.2% during the third quarter. Flossbach Von Storch AG now owns 54,318,684 shares of the basic materials company’s stock valued at $601,857,000 after buying an additional 5,921,550 shares during the period. First Eagle Investment Management LLC lifted its stake in shares of Barrick Gold by 10.8% during the third quarter. First Eagle Investment Management LLC now owns 40,590,158 shares of the basic materials company’s stock valued at $449,739,000 after buying an additional 3,947,573 shares during the period. Majedie Asset Management Ltd lifted its stake in shares of Barrick Gold by 7.1% during the third quarter. Majedie Asset Management Ltd now owns 20,460,799 shares of the basic materials company’s stock valued at $226,706,000 after buying an additional 1,348,842 shares during the period. Ashler Capital LLC lifted its stake in shares of Barrick Gold by 78.2% during the second quarter. Ashler Capital LLC now owns 18,297,749 shares of the basic materials company’s stock valued at $240,249,000 after buying an additional 8,030,578 shares during the period. Finally, Ruffer LLP lifted its stake in shares of Barrick Gold by 399.8% during the third quarter. Ruffer LLP now owns 17,512,029 shares of the basic materials company’s stock valued at $194,118,000 after buying an additional 14,008,215 shares during the period. 56.73% of the stock is currently owned by institutional investors and hedge funds.

ABX has been the topic of several recent analyst reports. Citigroup raised shares of Barrick Gold from a “sell” rating to a “neutral” rating and set a $11.00 price objective on the stock in a research note on Tuesday, August 28th. JPMorgan Chase & Co. reduced their price objective on shares of Barrick Gold from $15.50 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, September 17th. BMO Capital Markets reissued a “hold” rating and set a $15.00 price objective on shares of Barrick Gold in a research note on Friday, September 21st. TD Securities raised shares of Barrick Gold from a “hold” rating to a “buy” rating and upped their price objective for the company from $13.50 to $14.00 in a research note on Tuesday, September 25th. Finally, Zacks Investment Research downgraded shares of Barrick Gold from a “hold” rating to a “sell” rating in a research note on Tuesday, September 25th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $14.96.



Shares of Barrick Gold stock traded up $0.30 during trading hours on Friday, hitting $13.67. The company’s stock had a trading volume of 200,069 shares, compared to its average volume of 12,696,647. Barrick Gold Corp has a 1-year low of $9.53 and a 1-year high of $15.52. The firm has a market capitalization of $15.33 billion, a P/E ratio of 18.19, a PEG ratio of 15.49 and a beta of -0.50. The company has a quick ratio of 1.42, a current ratio of 2.65 and a debt-to-equity ratio of 0.53.

Barrick Gold (NYSE:ABX) (TSE:ABX) last released its quarterly earnings data on Wednesday, October 24th. The basic materials company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.02. Barrick Gold had a negative net margin of 8.75% and a positive return on equity of 5.38%. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the prior year, the business earned $0.16 earnings per share. The business’s quarterly revenue was down 5.0% compared to the same quarter last year. On average, research analysts expect that Barrick Gold Corp will post 0.42 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Friday, November 30th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Thursday, November 29th. Barrick Gold’s payout ratio is currently 16.00%.

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Barrick Gold Profile

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.

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Institutional Ownership by Quarter for Barrick Gold (NYSE:ABX)

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