Alberta Investment Management Corp Sells 105,900 Shares of Barrick Mining Corporation $B

Alberta Investment Management Corp reduced its stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 14.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 621,000 shares of the gold and copper producer’s stock after selling 105,900 shares during the quarter. Alberta Investment Management Corp’s holdings in Barrick Mining were worth $27,052,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in B. Westside Investment Management Inc. purchased a new stake in shares of Barrick Mining in the 4th quarter worth approximately $25,000. Financial Consulate Inc. raised its stake in Barrick Mining by 1,042.0% in the fourth quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock worth $25,000 after buying an additional 521 shares in the last quarter. Intesa Sanpaolo Wealth Management bought a new position in Barrick Mining in the fourth quarter worth approximately $26,000. Laurel Wealth Advisors LLC purchased a new stake in Barrick Mining during the fourth quarter worth $30,000. Finally, Motiv8 Investments LLC purchased a new stake in Barrick Mining during the fourth quarter worth $31,000. 90.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Barclays began coverage on shares of Barrick Mining in a report on Thursday, May 21st. They issued an “equal weight” rating and a $41.00 target price for the company. Canadian Imperial Bank of Commerce cut 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. ATB Cormark Capital Markets lowered shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Weiss Ratings cut shares of Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Finally, UBS Group raised their target price on shares of Barrick Mining from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.46.

Barrick Mining Price Performance

Shares of B opened at $40.32 on Friday. The firm has a market capitalization of $67.07 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of 1.17 and a beta of 0.44. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.06 and a quick ratio of 2.44. Barrick Mining Corporation has a 1-year low of $20.35 and a 1-year high of $54.69. The company’s fifty day moving average price is $41.53 and its 200-day moving average price is $43.90.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings data on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.18. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The firm 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. On average, equities research analysts predict that Barrick Mining Corporation will post 3.78 EPS for the current year.

Barrick Mining Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were issued a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, May 29th. Barrick Mining’s dividend payout ratio 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.