Arrowstreet Capital Limited Partnership Sells 410,689 Shares of Barrick Mining Corporation $B

Arrowstreet Capital Limited Partnership trimmed its stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 0.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,425,025 shares of the gold and copper producer’s stock after selling 410,689 shares during the quarter. Barrick Mining makes up 1.0% of Arrowstreet Capital Limited Partnership’s holdings, making the stock its 11th biggest position. Arrowstreet Capital Limited Partnership owned approximately 2.83% of Barrick Mining worth $1,937,265,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Van ECK Associates Corp raised its stake in Barrick Mining by 22.8% in the 4th quarter. Van ECK Associates Corp now owns 55,423,240 shares of the gold and copper producer’s stock valued at $2,413,699,000 after acquiring an additional 10,287,544 shares during the period. FIL Ltd boosted its position in Barrick Mining by 85.3% during the fourth quarter. FIL Ltd now owns 30,099,422 shares of the gold and copper producer’s stock worth $1,311,169,000 after purchasing an additional 13,853,587 shares during the period. Mackenzie Financial Corp boosted its position in Barrick Mining by 61.9% during the fourth quarter. Mackenzie Financial Corp now owns 20,591,745 shares of the gold and copper producer’s stock worth $909,104,000 after purchasing an additional 7,870,411 shares during the period. TD Asset Management Inc increased its stake in shares of Barrick Mining by 5.6% in 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 purchasing an additional 1,086,332 shares in the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of Barrick Mining by 8.8% in the fourth quarter. CIBC Asset Management Inc now owns 19,902,944 shares of the gold and copper producer’s stock valued at $869,964,000 after purchasing an additional 1,615,386 shares during the period. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Key Headlines Impacting Barrick Mining

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 Stock Down 1.0%

Shares of NYSE:B opened at $37.15 on Friday. The firm has a market capitalization of $61.79 billion, a PE ratio of 10.26, a price-to-earnings-growth ratio of 0.79 and a beta of 0.48. 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 fifty day moving average of $38.93 and a 200 day moving average of $42.80.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings results on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.18. The firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.75 billion. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The business’s revenue for the quarter was up 66.7% on a year-over-year basis. As a group, research analysts anticipate that Barrick Mining Corporation will post 3.61 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, May 29th. Barrick Mining’s dividend payout ratio (DPR) is 19.34%.

Wall Street Analyst Weigh In

A number of analysts recently commented on B shares. ATB Cormark Capital Markets cut shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. UBS Group lowered their target price on shares of Barrick Mining from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. 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 report on Thursday, July 9th. Weiss Ratings cut Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Finally, Scotiabank cut their target price on Barrick Mining from $63.00 to $57.00 and set a “sector outperform” rating for the company in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $52.46.

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.