Forsta AP Fonden Reduces Stake in Barrick Mining Corporation $B

Forsta AP Fonden lowered its stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 18.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 377,544 shares of the gold and copper producer’s stock after selling 84,400 shares during the period. Forsta AP Fonden’s holdings in Barrick Mining were worth $16,468,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quadrature Capital Ltd grew its position in Barrick Mining by 113.2% in the third quarter. Quadrature Capital Ltd now owns 3,984,800 shares of the gold and copper producer’s stock worth $130,764,000 after acquiring an additional 2,115,800 shares in the last quarter. BlueCrest Capital Management Ltd purchased a new position in Barrick Mining in the third quarter worth about $1,889,000. WINTON GROUP Ltd purchased a new position in Barrick Mining in the third quarter worth about $12,739,000. Picton Mahoney Asset Management grew its position in Barrick Mining by 1,673.9% in the third quarter. Picton Mahoney Asset Management now owns 1,577,359 shares of the gold and copper producer’s stock worth $51,797,000 after acquiring an additional 1,488,438 shares in the last quarter. Finally, Truist Financial Corp lifted its stake in Barrick Mining by 46.5% in the third quarter. Truist Financial Corp now owns 65,112 shares of the gold and copper producer’s stock worth $2,134,000 after purchasing an additional 20,655 shares during the last quarter. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Barrick Mining Stock Up 2.2%

Shares of NYSE B opened at $42.63 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.06 and a quick ratio of 2.44. The company has a market cap of $71.42 billion, a P/E ratio of 11.77, a PEG ratio of 1.13 and a beta of 0.41. Barrick Mining Corporation has a 1 year low of $18.83 and a 1 year high of $54.69. The firm has a 50-day simple moving average of $41.17 and a two-hundred day simple moving average of $43.58.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings results on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.18. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. The firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.75 billion. The company’s quarterly revenue was up 66.7% compared to the same quarter last year. Research analysts anticipate that Barrick Mining Corporation will post 3.78 earnings per share for the current year.

Barrick Mining Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be paid a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, May 29th. Barrick Mining’s payout ratio is currently 46.41%.

Wall Street Analyst Weigh In

B has been the subject of several analyst reports. ATB Cormark Capital Markets downgraded shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. UBS Group raised their price objective on shares of Barrick Mining from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Canaccord Genuity Group decreased their price objective on shares of Barrick Mining to $77.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th. Wall Street Zen raised shares of Barrick Mining from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 7th. Finally, Citigroup raised their price objective on shares of Barrick Mining from $38.00 to $48.00 and gave the stock a “neutral” rating in a research note on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Barrick Mining has a consensus rating of “Moderate Buy” and a consensus target price of $53.46.

Barrick Mining Company Profile

Barrick Gold Corporation, commonly known as Barrick, is a Toronto‑headquartered mining company focused on the exploration, development, production and sale of gold and copper. Listed on major exchanges (including the New York Stock Exchange under the symbol B), Barrick operates as an integrated minerals producer, running large‑scale mining complexes, processing facilities and related support services for extraction and metallurgical treatment of ore.

The company’s activities span the full mining value chain: greenfield exploration, feasibility and permitting, mine construction, ongoing operations, and closure and reclamation.