Short Interest in Barrick Gold Corp (ABX) Decreases By 31.5%

Barrick Gold Corp (NYSE:ABX) (TSE:ABX) was the recipient of a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 9,463,955 shares, a decrease of 31.5% from the November 15th total of 13,824,310 shares. Based on an average daily trading volume, of 9,569,986 shares, the days-to-cover ratio is currently 1.0 days. Currently, 0.8% of the company’s shares are short sold.

Shares of Barrick Gold (NYSE:ABX) opened at $14.06 on Monday. The company has a quick ratio of 1.56, a current ratio of 2.73 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $16,397.66, a PE ratio of 19.00, a P/E/G ratio of 9.32 and a beta of -0.42. Barrick Gold has a 12 month low of $13.28 and a 12 month high of $20.78.

Barrick Gold (NYSE:ABX) (TSE:ABX) last announced its quarterly earnings data on Wednesday, October 25th. The basic materials company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). Barrick Gold had a return on equity of 7.73% and a net margin of 25.72%. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the previous year, the firm earned $0.24 earnings per share. Barrick Gold’s revenue was down 15.8% on a year-over-year basis. analysts predict that Barrick Gold will post 0.75 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, November 30th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend was Wednesday, November 29th. Barrick Gold’s payout ratio is currently 6.45%.

ABX has been the subject of several research reports. TheStreet cut Barrick Gold from a “b-” rating to a “c” rating in a report on Thursday, October 26th. Berenberg Bank reiterated a “hold” rating on shares of Barrick Gold in a research note on Tuesday, October 24th. Royal Bank of Canada reiterated an “outperform” rating on shares of Barrick Gold in a research note on Thursday, September 7th. TD Securities decreased their price target on Barrick Gold from $20.00 to $17.00 and set a “hold” rating on the stock in a research note on Monday, November 6th. Finally, Credit Suisse Group restated a “buy” rating and set a $22.00 price objective on shares of Barrick Gold in a research report on Sunday, September 24th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the stock. Barrick Gold currently has a consensus rating of “Hold” and an average price target of $18.69.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. grew its stake in Barrick Gold by 116.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 6,588 shares of the basic materials company’s stock worth $105,000 after acquiring an additional 3,543 shares in the last quarter. FNY Partners Fund LP bought a new position in Barrick Gold in the 2nd quarter worth about $159,000. Neuberger Berman Group LLC bought a new position in Barrick Gold in the 2nd quarter worth about $161,000. ETRADE Capital Management LLC bought a new position in Barrick Gold in the 2nd quarter worth about $180,000. Finally, MML Investors Services LLC grew its stake in Barrick Gold by 11.6% in the 2nd quarter. MML Investors Services LLC now owns 11,644 shares of the basic materials company’s stock worth $185,000 after acquiring an additional 1,209 shares in the last quarter. Hedge funds and other institutional investors own 55.72% of the company’s stock.

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About Barrick Gold

Barrick Gold Corporation (Barrick) is a gold mining company. The Company is principally engaged in the production and sale of gold and copper, as well as related activities, such as exploration and mine development. The Company’s segments include Goldstrike, Cortez, Pueblo Viejo, Lagunas Norte, Veladero, Turquoise Ridge, Acacia Mining plc (Acacia), Pascua-Lama and Other Mines.

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