Sound Shore Management Inc CT Sells 1,916,672 Shares of Barrick Mining Corporation $B

Sound Shore Management Inc CT lessened its position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 62.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,164,080 shares of the gold and copper producer’s stock after selling 1,916,672 shares during the period. Sound Shore Management Inc CT owned about 0.07% of Barrick Mining worth $38,147,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Savvy Advisors Inc. lifted its holdings in shares of Barrick Mining by 22.2% in the third quarter. Savvy Advisors Inc. now owns 28,444 shares of the gold and copper producer’s stock valued at $932,000 after purchasing an additional 5,161 shares in the last quarter. Skylands Capital LLC acquired a new position in Barrick Mining during the 3rd quarter worth approximately $10,132,000. GK Wealth Management LLC bought a new position in shares of Barrick Mining during the 3rd quarter worth approximately $656,000. Caprock Group LLC acquired a new stake in shares of Barrick Mining in the third quarter valued at approximately $3,902,000. Finally, ING Groep NV lifted its position in shares of Barrick Mining by 0.5% in the third quarter. ING Groep NV now owns 227,453 shares of the gold and copper producer’s stock worth $7,454,000 after purchasing an additional 1,119 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. DZ Bank upgraded shares of Barrick Mining to a “strong-buy” rating in a research note on Monday, January 19th. Jefferies Financial Group restated a “buy” rating and set a $55.00 price objective on shares of Barrick Mining in a research note on Sunday, December 7th. Wall Street Zen raised Barrick Mining from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 7th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and set a $71.00 target price on shares of Barrick Mining in a report on Wednesday, February 4th. Finally, Zacks Research cut Barrick Mining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 13th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $53.58.

Barrick Mining Price Performance

Shares of NYSE B opened at $47.78 on Thursday. The company has a quick ratio of 2.33, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average price is $46.27 and its two-hundred day moving average price is $36.36. The company has a market cap of $80.04 billion, a PE ratio of 16.31, a price-to-earnings-growth ratio of 0.39 and a beta of 0.40. Barrick Mining Corporation has a twelve month low of $17.00 and a twelve month high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 EPS for the quarter, topping the consensus estimate of $0.85 by $0.19. The company had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $5.15 billion. Barrick Mining had a return on equity of 12.10% and a net margin of 29.45%.Barrick Mining’s quarterly revenue was up 44.6% compared to the same quarter last year. On average, analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be issued a $0.42 dividend. This is an increase from Barrick Mining’s previous quarterly dividend of $0.18. This represents a $1.68 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Friday, February 27th. Barrick Mining’s dividend payout ratio is presently 23.89%.

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.