Q3 Asset Management Lowers Stock Holdings in Barrick Mining Corporation $B

Q3 Asset Management trimmed its holdings in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 27.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 78,000 shares of the gold and copper producer’s stock after selling 28,796 shares during the period. Barrick Mining makes up approximately 0.8% of Q3 Asset Management’s holdings, making the stock its 20th largest position. Q3 Asset Management’s holdings in Barrick Mining were worth $3,405,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Quadrature Capital Ltd lifted its holdings in shares of Barrick Mining by 113.2% during the third quarter. Quadrature Capital Ltd now owns 3,984,800 shares of the gold and copper producer’s stock valued at $130,764,000 after purchasing an additional 2,115,800 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Barrick Mining by 316.0% during the third 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 purchasing an additional 13,891,886 shares during the last quarter. BlueCrest Capital Management Ltd purchased a new position in shares of Barrick Mining during the third quarter valued at approximately $1,889,000. Picton Mahoney Asset Management lifted its holdings in shares of Barrick Mining by 1,673.9% during the third quarter. Picton Mahoney Asset Management now owns 1,577,359 shares of the gold and copper producer’s stock valued at $51,797,000 after purchasing an additional 1,488,438 shares during the last quarter. Finally, Truist Financial Corp lifted its holdings in shares of Barrick Mining by 46.5% during the third quarter. Truist Financial Corp now owns 65,112 shares of the gold and copper producer’s stock valued at $2,134,000 after purchasing an additional 20,655 shares during the last quarter. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Mining Trading Down 0.0%

NYSE:B opened at $43.29 on Monday. The company has a current ratio of 2.92, a quick ratio of 2.33 and a debt-to-equity ratio of 0.13. Barrick Mining Corporation has a 12 month low of $17.41 and a 12 month high of $54.69. The company has a market cap of $72.53 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50. The company has a 50 day simple moving average of $44.12 and a two-hundred day simple moving average of $41.99.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 EPS 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 company’s revenue for the quarter was up 44.6% on a year-over-year basis. Research analysts forecast that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Friday, February 27th were given a $0.42 dividend. This is a boost from Barrick Mining’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, February 27th. This represents a $1.68 dividend on an annualized basis and a yield of 3.9%. Barrick Mining’s payout ratio is presently 57.34%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on B shares. Zacks Research lowered shares of Barrick Mining from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 13th. UBS Group lowered their target price on shares of Barrick Mining from $55.00 to $50.00 and set a “buy” rating for the company in a report on Friday, March 27th. ATB Cormark Capital Markets downgraded shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 7th. DZ Bank raised shares of Barrick Mining to a “strong-buy” rating in a research report on Monday, January 19th. Finally, Citigroup raised their price target on shares of Barrick Mining from $38.00 to $48.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Barrick Mining has an average rating of “Moderate Buy” and an average target price of $54.83.

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.