Pictet Asset Management Holding SA Decreases Stock Position in Barrick Mining Corporation $B

Pictet Asset Management Holding SA cut its stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 23.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 686,680 shares of the gold and copper producer’s stock after selling 215,306 shares during the period. Pictet Asset Management Holding SA’s holdings in Barrick Mining were worth $27,969,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several analysts have recently commented on the company. ATB Cormark Capital Markets cut Barrick Mining from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. Weiss Ratings lowered shares of Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Barclays initiated coverage on Barrick Mining in a research 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 cut their price target on Barrick Mining to $63.00 and set an “outperformer” rating for the company in a report on Tuesday, April 21st. Finally, UBS Group cut their price objective on shares of Barrick Mining from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.15.

Barrick Mining Price Performance

Shares of NYSE B opened at $36.44 on Thursday. The company has a market capitalization of $60.61 billion, a price-to-earnings ratio of 10.07, a PEG ratio of 1.05 and a beta of 0.48. Barrick Mining Corporation has a 1-year low of $20.52 and a 1-year high of $54.69. The business has a 50-day moving average of $40.56 and a 200-day moving average of $43.67. 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 (NYSE:B) (TSE:ABX) last posted its quarterly earnings data on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.18. The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.75 billion. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. The business’s quarterly revenue was up 66.7% compared to the same quarter last year. On average, equities analysts anticipate that Barrick Mining Corporation will post 3.78 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were given a $0.175 dividend. 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 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.