Barrick Gold Corp (ABX) Shareholder Majedie Asset Management LTD Decreased Its Stake by $41.31 Million as Shares Declined

April 17, 2018 - By Eula Gilbert

Barrick Gold Corporation (NYSE:ABX) Corporate Logo

Based on the latest 2017Q4 regulatory filing with the SEC, Majedie Asset Management Ltd decreased its holdings in Barrick Gold Corp (ABX) by 15.61%. The company’s stock declined 13.20% with the market as Majedie Asset Management Ltd sold 2.95M shares. At the end of 2017Q4, the institutional investor held 15.95 million shares of the precious metals company, valued at $230.79M, down from 18.90 million at the end of the previous reported quarter. $14.64B is Barrick Gold Corp’s MC. ABX reached $13.03 on during the last trading session after $0.12 change.Barrick Gold Corporation has volume of 8.47M shares. Since April 17, 2017 ABX has declined 35.92% and is downtrending. ABX underperformed the S&P500 by 47.47%.

About $1.19 billion US Long portfolio the Majedie Asset Management Ltd operates. Its stake in Sohu Com Inc (NASDAQ:SOHU) was upped by 226,842 shares to 482,294 shares valued at $20.91M in 2017Q4, according to the filing. Majedie Asset Management Ltd has risen its stake in Amdocs Ltd (NASDAQ:DOX) and also increased its holding in Oceaneering Intl Inc (NYSE:OII) by 738,968 shares in the quarter, for a total of 1.80M shares.

Analysts await Barrick Gold Corporation (NYSE:ABX) to report earnings on April, 23. They expect $0.18 EPS, up 28.57 % or $0.04 from last year’s $0.14 per share. ABX’s profit will be $202.24 million for 18.10 P/E if the $0.18 EPS becomes a reality. After $0.22 actual EPS reported by Barrick Gold Corporation for the previous quarter, Wall Street now forecasts -18.18 % negative EPS growth.

Barrick Gold Corporation (NYSE:ABX) Ratings Coverage

In total 10 analysts cover Barrick Gold (NYSE:ABX). “Buy” rating has 3, “Sell” are 1, while 6 are “Hold”. 30% are bullish. With $21.0 highest and $11 lowest [Target] Barrick Gold has $15.67 average [Target] or 20.26% above the current ($13.03) price. 17 are the (NYSE:ABX)’s analyst reports since October 19, 2017 according to StockzIntelligence Inc. In Thursday, October 26 report Credit Suisse downgraded it to “Hold” rating and $19.0 target. On Sunday, December 3 the firm has “Hold” rating given by RBC Capital Markets. On Monday, October 30 the firm earned “Buy” rating by RBC Capital Markets. On Wednesday, February 7 BMO Capital Markets maintained Barrick Gold Corporation (NYSE:ABX) rating. BMO Capital Markets has “Hold” rating and $15.0 target. On Wednesday, March 28 the rating was maintained by JP Morgan with “Neutral”. On Monday, March 12 the stock has “Outperform” rating by RBC Capital Markets. The stock rating was maintained by BMO Capital Markets with “Hold” on Tuesday, November 14. On Monday, December 18 BMO Capital Markets maintained Barrick Gold Corporation (NYSE:ABX) with “Hold” rating. On Friday, November 3 the stock of Barrick Gold Corporation (NYSE:ABX) earned “Neutral” rating by UBS. In Thursday, February 15 report Jefferies maintained it with “Buy” rating and $17.0 target.

Barrick Gold Corporation (NYSE:ABX) Analyst Ratings Chart

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