As Barrick Gold Corp (ABX) Stock Value Declined, Holder Commerzbank Aktiengesellschaft Has Lowered Stake by $28.57 Million

November 15, 2017 - By Clifton Ray

Commerzbank Aktiengesellschaft decreased its stake in Barrick Gold Corp (ABX) by 21.83% based on its latest 2017Q2 regulatory filing with the SEC. Commerzbank Aktiengesellschaft sold 1.90 million shares as the company’s stock declined 17.45% while stock markets rallied. The institutional investor held 6.82M shares of the precious metals company at the end of 2017Q2, valued at $108.54M, down from 8.73M at the end of the previous reported quarter. Commerzbank Aktiengesellschaft who had been investing in Barrick Gold Corp for a number of months, seems to be less bullish one the $16.35B market cap company. The stock rose 0.57% or $0.08 reaching $14.09. About 11,430 shares traded. Barrick Gold Corp (USA) (NYSE:ABX) has declined 8.26% since November 15, 2016 and is downtrending. It has underperformed by 24.96% the S&P500.

Commerzbank Aktiengesellschaft, which manages about $5.96 billion US Long portfolio, upped its stake in Ishares Tr (LQD) by 44,002 shares to 47,255 shares, valued at $5.70 million in 2017Q2, according to the filing. It also increased its holding in Petroleo Brasileiro Sa Petro (NYSE:PBR) by 899,150 shares in the quarter, for a total of 1.94 million shares, and has risen its stake in Altria Group Inc (NYSE:MO).

Analysts await Barrick Gold Corp (USA) (NYSE:ABX) to report earnings on February, 21. They expect $0.21 earnings per share, down 4.55 % or $0.01 from last year’s $0.22 per share. ABX’s profit will be $243.68 million for 16.77 P/E if the $0.21 EPS becomes a reality. After $0.16 actual earnings per share reported by Barrick Gold Corp (USA) for the previous quarter, Wall Street now forecasts 31.25 % EPS growth.

More notable recent Barrick Gold Corp (USA) (NYSE:ABX) news were published by: Fool.ca which released: “Barrick Gold Corp.: Should You Own This Stock?” on November 01, 2017, also Fool.ca with their article: “Barrick Gold Corp. Stock Plunges 7%: Here’s What You Should Do” published on October 27, 2017, Fool.ca published: “Why Did Barrick Gold Corp. and Teck Resources Ltd. Shares Fall More Than 7% on …” on October 28, 2017. More interesting news about Barrick Gold Corp (USA) (NYSE:ABX) were released by: Fool.ca and their article: “Comeback in 2018? Yamana Gold Inc. vs. Barrick Gold Corp.” published on November 07, 2017 as well as Livetradingnews.com‘s news article titled: “Barrick Gold Corp (USA) (NYSE:ABX) Bears in Favor” with publication date: October 26, 2017.

Barrick Gold Corp (USA) (NYSE:ABX) Ratings Coverage

Among 24 analysts covering Barrick Gold Corp. (NYSE:ABX), 9 have Buy rating, 0 Sell and 15 Hold. Therefore 38% are positive. Barrick Gold Corp. had 77 analyst reports since August 6, 2015 according to SRatingsIntel. The stock of Barrick Gold Corp (USA) (NYSE:ABX) has “Hold” rating given on Tuesday, May 3 by Canaccord Genuity. The firm earned “Hold” rating on Thursday, October 26 by Credit Suisse. BMO Capital Markets maintained Barrick Gold Corp (USA) (NYSE:ABX) on Monday, August 21 with “Hold” rating. RBC Capital Markets upgraded it to “Outperform” rating and $23 target in Thursday, March 16 report. The rating was upgraded by Clarkson Platou to “Buy” on Monday, April 18. The firm earned “Buy” rating on Monday, September 18 by Jefferies. The rating was maintained by Jefferies with “Buy” on Friday, July 14. RBC Capital Markets maintained Barrick Gold Corp (USA) (NYSE:ABX) on Thursday, May 25 with “Buy” rating. Barclays Capital downgraded it to “Equal Weight” rating and $10 target in Friday, August 7 report. The stock of Barrick Gold Corp (USA) (NYSE:ABX) has “Buy” rating given on Monday, September 25 by RBC Capital Markets.

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