Cary Street Partners Financial LLC Sells 88,466 Shares of Barrick Mining Corporation $B

Cary Street Partners Financial LLC lessened its position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 40.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 129,044 shares of the gold and copper producer’s stock after selling 88,466 shares during the quarter. Cary Street Partners Financial LLC’s holdings in Barrick Mining were worth $4,229,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in B. Vanguard Group Inc. purchased a new stake in Barrick Mining in the 2nd quarter worth about $1,459,633,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Barrick Mining during the second quarter valued at approximately $1,091,122,000. First Eagle Investment Management LLC purchased a new stake in shares of Barrick Mining in the second quarter worth approximately $822,056,000. Geode Capital Management LLC bought a new stake in shares of Barrick Mining during the 2nd quarter worth approximately $307,855,000. Finally, CIBC Asset Management Inc boosted its holdings in Barrick Mining by 316.0% during the 3rd quarter. CIBC Asset Management Inc now owns 18,287,558 shares of the gold and copper producer’s stock valued at $601,115,000 after acquiring an additional 13,891,886 shares during the period. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Mining Trading Up 0.1%

NYSE:B opened at $49.77 on Thursday. The stock has a market capitalization of $83.38 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 0.40 and a beta of 0.40. Barrick Mining Corporation has a 52 week low of $17.00 and a 52 week 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 firm has a 50 day moving average of $47.49 and a 200 day moving average of $38.18.

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

Barrick Mining Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.68 annualized dividend and a yield of 3.4%. This is an increase from Barrick Mining’s previous quarterly dividend of $0.18. Barrick Mining’s dividend payout ratio is currently 23.89%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on B. Weiss Ratings reiterated a “buy (b)” rating on shares of Barrick Mining in a research note on Monday, December 29th. Scotiabank lifted their price objective on shares of Barrick Mining from $43.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, January 26th. JPMorgan Chase & Co. initiated coverage on shares of Barrick Mining in a research report on Thursday, January 29th. They issued an “overweight” rating and a $68.00 price objective for the company. TD Cowen reaffirmed a “buy” rating on shares of Barrick Mining in a research report on Wednesday, November 26th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $71.00 price target on shares of Barrick Mining in a research note on Wednesday, February 4th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Barrick Mining has an average rating of “Moderate Buy” and a consensus target price of $55.25.

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.