Arrowstreet Capital Limited Partnership Trims Holdings in Barrick Mining Corporation $B

Arrowstreet Capital Limited Partnership decreased its holdings in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 0.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,425,025 shares of the gold and copper producer’s stock after selling 410,689 shares during the period. Barrick Mining accounts for about 1.0% of Arrowstreet Capital Limited Partnership’s holdings, making the stock its 11th largest holding. Arrowstreet Capital Limited Partnership’s holdings in Barrick Mining were worth $1,937,265,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Enclave Advisors LLC acquired a new position in shares of Barrick Mining in the fourth quarter valued at about $2,395,000. Caldwell Trust Co raised its stake in Barrick Mining by 6,688.3% in the 4th quarter. Caldwell Trust Co now owns 20,365 shares of the gold and copper producer’s stock worth $887,000 after purchasing an additional 20,065 shares in the last quarter. Gunderson Capital Management Inc. acquired a new stake in Barrick Mining in the 4th quarter worth about $8,987,000. Williamson Legacy Group LLC bought a new stake in Barrick Mining in the 4th quarter valued at about $1,315,000. Finally, Exchange Traded Concepts LLC boosted its holdings in Barrick Mining by 24.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 689,661 shares of the gold and copper producer’s stock valued at $30,035,000 after purchasing an additional 136,861 shares during the period. 90.82% of the stock is currently owned by institutional investors.

Barrick Mining Trading Down 1.0%

Shares of B opened at $37.15 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.44 and a current ratio of 3.06. Barrick Mining Corporation has a 52-week low of $20.94 and a 52-week high of $54.69. The firm has a market cap of $61.79 billion, a price-to-earnings ratio of 10.26, a PEG ratio of 0.79 and a beta of 0.48. The business’s fifty day moving average is $38.93 and its 200-day moving average is $42.80.

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 for the quarter, topping the consensus estimate of $0.80 by $0.18. The business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.75 billion. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The firm’s quarterly revenue was up 66.7% on a year-over-year basis. Equities analysts anticipate that Barrick Mining Corporation will post 3.61 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Friday, May 29th. Barrick Mining’s dividend payout ratio is presently 19.34%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on B. Scotiabank decreased their target price on shares of Barrick Mining from $63.00 to $57.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, July 14th. Royal Bank Of Canada cut their price target on Barrick Mining from $51.00 to $49.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. UBS Group cut their target price on Barrick Mining from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Barclays reduced their target price on Barrick Mining from $41.00 to $39.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. decreased their price target on Barrick Mining from $58.00 to $50.00 and set an “overweight” rating on the stock in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Barrick Mining presently has an average rating of “Moderate Buy” and an average target price of $52.46.

Key Barrick Mining News

Here are the key news stories impacting Barrick Mining this week:

• Positive Sentiment: Gold’s move above $4,000 an ounce and renewed central-bank buying are supporting the broader gold-mining trade, which could lift sentiment toward Barrick Mining and other producers. Gold price above USD 4,000 and central bank rally: Barrick Mining, Lahontan Gold, Newmont—time to buy now?
• Positive Sentiment: Barrick is being highlighted by market commentators as a potential beneficiary of the strong gold backdrop, reinforcing the view that the company’s core business is well positioned if bullion stays high. Man Who Called 2008 Crash Says Now Is the Time to “Invest in Early-Stage Gold Stocks”
• Positive Sentiment: Barrick’s purchase of roughly a 9.9% stake in Kingfisher Metals gives it additional exposure to the HWY 37 project and adds exploration upside through technical collaboration, which investors may view as a growth-oriented move. Barrick Mining Buys 10% Stake in Kingfisher Metals for C$20.9 Million
• Positive Sentiment: Barrick also announced the start of an exploration program with Midland on the Lewis project, signaling continued investment in future resource growth. Midland, in Partnership with Barrick, Commences an Exploration Program for Gold on the Lewis Project
• Neutral Sentiment: News that Barrick supports local content rules is more likely to be viewed as a policy and operating update than a direct earnings catalyst. Barrick supports local content rules
• Neutral Sentiment: JPMorgan lowered its price target on Barrick to $50, which adds a note of caution but does not change the broader positive gold-sector backdrop. JPMorgan Chase & Co. Lowers Barrick Mining (NYSE:B) Price Target to $50.00

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.