Russell Investments Group Ltd. Has $160.78 Million Stock Position in Barrick Mining Corporation $B

Russell Investments Group Ltd. lowered its stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 8.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,686,921 shares of the gold and copper producer’s stock after selling 329,695 shares during the period. Russell Investments Group Ltd.’s holdings in Barrick Mining were worth $160,776,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of B. CW Advisors LLC bought a new position in Barrick Mining in the 2nd quarter valued at about $283,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Barrick Mining during the 2nd quarter worth approximately $53,000. First Trust Advisors LP acquired a new stake in shares of Barrick Mining during the 2nd quarter worth approximately $857,000. Baird Financial Group Inc. bought a new position in Barrick Mining in the second quarter valued at approximately $2,569,000. Finally, Cresset Asset Management LLC bought a new position in Barrick Mining in the second quarter valued at approximately $543,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on B. UBS Group upped their target price on Barrick Mining from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Barclays began coverage on Barrick Mining in a research note on Thursday, May 21st. They issued an “equal weight” rating and a $41.00 price target on the stock. Canadian Imperial Bank of Commerce lowered their price target 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 research report on Wednesday, February 18th. Finally, Weiss Ratings lowered Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $53.46.

Barrick Mining Stock Up 2.4%

Shares of NYSE B opened at $42.84 on Wednesday. The company has a 50 day simple moving average of $41.54 and a 200 day simple moving average of $43.91. 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 firm has a market cap of $71.27 billion, a PE ratio of 11.84, a price-to-earnings-growth ratio of 1.19 and a beta of 0.44.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings results on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.18. The firm had revenue of $4.11 billion during 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 firm’s revenue for the quarter was up 66.7% on a year-over-year basis. On average, research analysts forecast that Barrick Mining Corporation will post 3.78 EPS for the current year.

Barrick Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors 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 1.6%. The ex-dividend date was Friday, May 29th. Barrick Mining’s dividend payout ratio is presently 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.