Equity Investment Corp Sells 861,330 Shares of Barrick Mining Corporation $B

Equity Investment Corp cut its position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 24.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,596,877 shares of the gold and copper producer’s stock after selling 861,330 shares during the period. Barrick Mining comprises 2.3% of Equity Investment Corp’s portfolio, making the stock its 17th biggest holding. Equity Investment Corp’s holdings in Barrick Mining were worth $113,094,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Capital International Investors grew its holdings in shares of Barrick Mining by 35.9% during the third quarter. Capital International Investors now owns 101,846,588 shares of the gold and copper producer’s stock worth $3,340,709,000 after buying an additional 26,921,219 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Barrick Mining by 1.1% during the third quarter. Vanguard Group Inc. now owns 70,878,168 shares of the gold and copper producer’s stock worth $2,327,991,000 after buying an additional 767,544 shares in the last quarter. TD Asset Management Inc grew its holdings in shares of Barrick Mining by 5.6% during the fourth quarter. TD Asset Management Inc now owns 20,395,667 shares of the gold and copper producer’s stock worth $889,627,000 after buying an additional 1,086,332 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Barrick Mining by 8.8% during the fourth quarter. CIBC Asset Management Inc now owns 19,902,944 shares of the gold and copper producer’s stock worth $869,964,000 after buying an additional 1,615,386 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Barrick Mining by 7.0% during the fourth quarter. Geode Capital Management LLC now owns 17,733,900 shares of the gold and copper producer’s stock worth $802,477,000 after buying an additional 1,154,790 shares in the last quarter. 90.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Weiss Ratings downgraded Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. ATB Cormark Capital Markets downgraded Barrick Mining from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. Barclays initiated coverage on Barrick Mining in a report on Thursday, May 21st. They set an “equal weight” rating and a $41.00 price objective for the company. Canadian Imperial Bank of Commerce reduced their price target on Barrick Mining to $63.00 and set an “outperformer” rating for the company in a research report on Tuesday, April 21st. Finally, Canaccord Genuity Group reduced their price target on Barrick Mining to $77.00 and set a “buy” rating for the company in a research report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Barrick Mining has an average rating of “Moderate Buy” and a consensus target price of $53.46.

Barrick Mining Stock Performance

Shares of NYSE B opened at $39.14 on Friday. The stock has a 50 day moving average price of $41.55 and a 200 day moving average price of $43.87. Barrick Mining Corporation has a 52 week low of $20.35 and a 52 week high of $54.69. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.44 and a current ratio of 3.06. The stock has a market capitalization of $65.11 billion, a PE ratio of 10.81, a price-to-earnings-growth ratio of 1.06 and a beta of 0.44.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings results on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, beating 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. The firm’s revenue for the quarter was up 66.7% compared to the same quarter last year. Analysts predict that Barrick Mining Corporation will post 3.78 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be given a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, May 29th. Barrick Mining’s dividend payout ratio (DPR) 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.