Barrick Mining Corporation $B Holdings Cut by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership cut its position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 2.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,835,714 shares of the gold and copper producer’s stock after selling 1,333,997 shares during the quarter. Barrick Mining comprises 1.2% of Arrowstreet Capital Limited Partnership’s investment portfolio, making the stock its 10th biggest position. Arrowstreet Capital Limited Partnership owned about 2.86% of Barrick Mining worth $2,083,651,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Financial Consulate Inc. lifted its stake in Barrick Mining by 1,042.0% in the 4th quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock worth $25,000 after purchasing an additional 521 shares in the last quarter. Westside Investment Management Inc. purchased a new stake in shares of Barrick Mining during the 4th quarter valued at $25,000. Intesa Sanpaolo Wealth Management purchased a new stake in shares of Barrick Mining during the 4th quarter valued at $26,000. JPL Wealth Management LLC purchased a new stake in shares of Barrick Mining during the 3rd quarter valued at $28,000. Finally, Laurel Wealth Advisors LLC purchased a new stake in shares of Barrick Mining during the 4th quarter valued at $30,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. ATB Cormark Capital Markets cut shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Canadian Imperial Bank of Commerce lowered their price objective on shares of Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a research report on Tuesday, April 21st. Barclays assumed coverage on shares of Barrick Mining in a research report on Thursday, May 21st. They set an “equal weight” rating and a $41.00 price objective on the stock. UBS Group raised their price objective on shares of Barrick Mining from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Finally, Canaccord Genuity Group lowered their price objective on shares of Barrick Mining to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Barrick Mining has an average rating of “Moderate Buy” and a consensus price target of $53.46.

Barrick Mining Price Performance

Shares of NYSE:B opened at $40.22 on Friday. The stock has a market cap of $66.89 billion, a PE ratio of 11.11, a PEG ratio of 1.14 and a beta of 0.44. The company’s fifty day moving average is $41.51 and its 200 day moving average is $43.85. Barrick Mining Corporation has a 52 week low of $20.35 and a 52 week high of $54.69. The company has a quick ratio of 2.44, a current ratio of 3.06 and a debt-to-equity ratio of 0.13.

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

Barrick Mining Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, May 29th. Barrick Mining’s dividend payout ratio (DPR) is 19.34%.

About Barrick Mining

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.