Arrowstreet Capital Limited Partnership Has $1.61 Billion Stake in Barrick Mining Corporation $B

Arrowstreet Capital Limited Partnership reduced its holdings in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 6.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,169,711 shares of the gold and copper producer’s stock after selling 3,216,639 shares during the quarter. Barrick Mining makes up approximately 1.0% of Arrowstreet Capital Limited Partnership’s holdings, making the stock its 9th largest holding. Arrowstreet Capital Limited Partnership owned about 2.91% of Barrick Mining worth $1,613,601,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Capital International Investors boosted its stake in Barrick Mining by 35.9% in 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 purchasing an additional 26,921,219 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Barrick Mining by 1.1% in the third quarter. Vanguard Group Inc. now owns 70,878,168 shares of the gold and copper producer’s stock valued at $2,327,991,000 after buying an additional 767,544 shares in the last quarter. TD Asset Management Inc raised its holdings in shares of Barrick Mining by 3.8% in the third quarter. TD Asset Management Inc now owns 19,309,335 shares of the gold and copper producer’s stock valued at $634,346,000 after buying an additional 715,151 shares during the last quarter. CIBC Asset Management Inc lifted its position 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 worth $601,115,000 after buying an additional 13,891,886 shares in the last quarter. Finally, Geode Capital Management LLC acquired a new position in Barrick Mining during the 2nd quarter worth about $307,855,000. 90.82% of the stock is currently owned by institutional investors.

Barrick Mining Stock Down 2.1%

Shares of NYSE B opened at $44.50 on Friday. Barrick Mining Corporation has a 1 year low of $17.00 and a 1 year high of $54.69. The firm’s 50-day moving average is $47.99 and its 200-day moving average is $39.83. The company has a current ratio of 2.92, a quick ratio of 2.33 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $74.55 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 1.42 and a beta of 0.41.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $5.15 billion. The firm’s revenue for the quarter was up 44.6% on a year-over-year basis. Equities analysts expect that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.68 dividend on an annualized basis and a yield of 3.8%. This is a boost from Barrick Mining’s previous quarterly dividend of $0.18. Barrick Mining’s dividend payout ratio (DPR) is presently 57.34%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on B shares. Raymond James Financial boosted their target price on shares of Barrick Mining from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 25th. Canadian Imperial Bank of Commerce reissued an “outperform” rating and set a $71.00 price target on shares of Barrick Mining in a research note on Wednesday, February 4th. ATB Cormark Capital Markets raised shares of Barrick Mining to a “moderate buy” rating in a report on Monday, February 9th. Zacks Research cut shares of Barrick Mining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 13th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Barrick Mining in a report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Barrick Mining currently has a consensus rating of “Moderate Buy” and an average price target 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.