Arrowstreet Capital Limited Partnership Cuts Stake in Barrick Mining Corporation $B

Arrowstreet Capital Limited Partnership lessened its position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 2.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 47,835,714 shares of the gold and copper producer’s stock after selling 1,333,997 shares during the period. Barrick Mining accounts for 1.2% of Arrowstreet Capital Limited Partnership’s holdings, making the stock its 10th largest holding. Arrowstreet Capital Limited Partnership’s holdings in Barrick Mining were worth $2,083,651,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in B. Financial Consulate Inc. grew its holdings in Barrick Mining by 1,042.0% in the 4th quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock worth $25,000 after acquiring an additional 521 shares during the last quarter. Westside Investment Management Inc. bought a new stake in shares of Barrick Mining during the 4th quarter valued at about $25,000. Intesa Sanpaolo Wealth Management bought a new stake in shares of Barrick Mining during the 4th quarter valued at about $26,000. JPL Wealth Management LLC bought a new stake in shares of Barrick Mining during the 3rd quarter valued at about $28,000. Finally, Laurel Wealth Advisors LLC bought a new stake in shares of Barrick Mining during the 4th quarter valued at about $30,000. Institutional investors own 90.82% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on B shares. Canadian Imperial Bank of Commerce cut their target price on shares of Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a research note on Tuesday, April 21st. Canaccord Genuity Group cut their target price on shares of Barrick Mining to $77.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. ATB Cormark Capital Markets lowered shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. UBS Group lifted their target price on shares of Barrick Mining from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Finally, Barclays started coverage on shares of Barrick Mining in a research note on Thursday, May 21st. They set an “equal weight” rating and a $41.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $53.46.

Barrick Mining Trading Up 2.9%

Shares of NYSE B opened at $40.22 on Friday. Barrick Mining Corporation has a 1 year low of $20.35 and a 1 year high of $54.69. The stock has a market cap of $66.89 billion, a P/E ratio of 11.11, a price-to-earnings-growth ratio of 1.14 and a beta of 0.44. The firm has a 50-day moving average of $41.51 and a 200 day moving average of $43.85. 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 issued its quarterly earnings results 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. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. The company had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.75 billion. Barrick Mining’s revenue for the quarter was up 66.7% on a year-over-year basis. As a group, sell-side analysts expect that Barrick Mining Corporation will post 3.78 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, May 29th. Barrick Mining’s dividend payout ratio (DPR) is 19.34%.

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.