Sound Shore Management Inc CT Sells 1,916,672 Shares of Barrick Mining Corporation $B

Sound Shore Management Inc CT lessened its position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 62.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,164,080 shares of the gold and copper producer’s stock after selling 1,916,672 shares during the period. Sound Shore Management Inc CT’s holdings in Barrick Mining were worth $38,147,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in B. Vanguard Group Inc. bought a new stake in Barrick Mining in the 2nd quarter valued at $1,459,633,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Barrick Mining during the second quarter worth $1,091,122,000. First Eagle Investment Management LLC bought a new stake in shares of Barrick Mining in the second quarter valued at about $822,056,000. Geode Capital Management LLC acquired a new position in shares of Barrick Mining in the second quarter valued at about $307,855,000. Finally, CIBC Asset Management Inc increased its position in Barrick Mining by 316.0% during the third quarter. CIBC Asset Management Inc now owns 18,287,558 shares of the gold and copper producer’s stock worth $601,115,000 after acquiring an additional 13,891,886 shares during the period. Institutional investors own 90.82% of the company’s stock.

Barrick Mining Price Performance

Shares of B stock opened at $47.78 on Thursday. Barrick Mining Corporation has a twelve month low of $17.00 and a twelve month high of $54.69. The company has a quick ratio of 2.33, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $46.27 and a 200 day simple moving average of $36.36. The company has a market cap of $80.04 billion, a P/E ratio of 16.31, a P/E/G ratio of 0.39 and a beta of 0.40.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.19. The firm had revenue of $5.98 billion during the quarter, compared to analysts’ expectations of $5.15 billion. Barrick Mining had a net margin of 29.45% and a return on equity of 12.10%. The business’s revenue for the quarter was up 44.6% compared to the same quarter last year. On average, sell-side analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be given a $0.42 dividend. This is an increase from Barrick Mining’s previous quarterly dividend of $0.18. This represents a $1.68 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Friday, February 27th. Barrick Mining’s dividend payout ratio (DPR) is 23.89%.

Analyst Ratings Changes

A number of brokerages have issued reports on B. Weiss Ratings restated a “buy (b)” rating on shares of Barrick Mining in a research report on Monday, December 29th. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $71.00 price objective on shares of Barrick Mining in a research note on Wednesday, February 4th. UBS Group set a $55.00 target price on Barrick Mining in a research report on Friday, February 6th. Citigroup raised their price target on Barrick Mining from $38.00 to $48.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $55.00 price objective on shares of Barrick Mining in a research report on Sunday, December 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.58.

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.