Equity Investment Corp Sells 861,330 Shares of Barrick Mining Corporation $B

Equity Investment Corp lowered its position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 24.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,596,877 shares of the gold and copper producer’s stock after selling 861,330 shares during the quarter. Barrick Mining makes up about 2.3% of Equity Investment Corp’s investment portfolio, making the stock its 17th largest position. Equity Investment Corp owned approximately 0.16% of Barrick Mining worth $113,094,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Consulate Inc. raised its position in shares of Barrick Mining by 1,042.0% during the fourth quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock worth $25,000 after acquiring an additional 521 shares during the last quarter. Westside Investment Management Inc. bought a new stake in shares of Barrick Mining during the fourth quarter worth $25,000. JPL Wealth Management LLC bought a new stake in shares of Barrick Mining during the third quarter worth $28,000. Laurel Wealth Advisors LLC bought a new stake in shares of Barrick Mining during the fourth quarter worth $30,000. Finally, Pin Oak Investment Advisors Inc. bought a new stake in shares of Barrick Mining during the third quarter worth $31,000. Institutional investors own 90.82% of the company’s stock.

Barrick Mining Trading Up 5.3%

NYSE:B opened at $39.14 on Friday. Barrick Mining Corporation has a fifty-two week low of $20.35 and a fifty-two week high of $54.69. 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 stock has a market capitalization of $65.11 billion, a PE ratio of 10.81, a price-to-earnings-growth ratio of 1.06 and a beta of 0.44. The business’s 50-day simple moving average is $41.55 and its 200-day simple moving average is $43.87.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.18. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.75 billion. Barrick Mining’s revenue was up 66.7% on a year-over-year basis. Sell-side analysts expect that Barrick Mining Corporation will post 3.78 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, May 29th. Barrick Mining’s dividend payout ratio is presently 19.34%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Barclays assumed coverage on Barrick Mining in a report on Thursday, May 21st. They issued an “equal weight” rating and a $41.00 price objective for the company. Canadian Imperial Bank of Commerce dropped their price objective on Barrick Mining to $63.00 and set an “outperformer” rating for the company in a report on Tuesday, April 21st. Canaccord Genuity Group dropped their price objective on Barrick Mining to $77.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. ATB Cormark Capital Markets downgraded Barrick Mining from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. Finally, Weiss Ratings downgraded Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.46.

Barrick Mining 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.