Barrick Mining Corporation $B Shares Sold by Evergreen Quality Fund GP Ltd.

Evergreen Quality Fund GP Ltd. decreased its stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 10.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 4,609,323 shares of the gold and copper producer’s stock after selling 518,377 shares during the period. Barrick Mining makes up 4.0% of Evergreen Quality Fund GP Ltd.’s holdings, making the stock its 7th largest position. Evergreen Quality Fund GP Ltd.’s holdings in Barrick Mining were worth $200,736,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Financial Consulate Inc. grew its holdings in Barrick Mining by 1,042.0% during the fourth quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock valued at $25,000 after purchasing 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 worth $25,000. Intesa Sanpaolo Wealth Management acquired a new position in Barrick Mining in the 4th quarter valued at $26,000. JPL Wealth Management LLC bought a new stake in Barrick Mining during the third quarter valued at about $28,000. Finally, Laurel Wealth Advisors LLC acquired a new stake in shares of Barrick Mining in the fourth quarter valued at about $30,000. 90.82% of the stock is owned by institutional investors.

Barrick Mining Stock Performance

Shares of NYSE B opened at $41.30 on Thursday. The firm has a market capitalization of $68.70 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 1.22 and a beta of 0.44. Barrick Mining Corporation has a one year low of $20.35 and a one year high of $54.69. The business has a fifty day simple moving average of $41.55 and a 200 day simple moving average of $43.91. The company has a current ratio of 3.06, a quick ratio of 2.44 and a debt-to-equity ratio of 0.13.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings results on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share for the quarter, topping 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 firm had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.75 billion. The business’s quarterly revenue was up 66.7% compared to the same quarter last year. Sell-side analysts expect that Barrick Mining Corporation will post 3.78 EPS for the current year.

Barrick Mining Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were paid a $0.175 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.70 dividend on an annualized basis and a yield of 1.7%. Barrick Mining’s payout ratio is presently 19.34%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on B. ATB Cormark Capital Markets lowered Barrick Mining from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. Canadian Imperial Bank of Commerce dropped their target price on shares of Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a research report on Tuesday, April 21st. UBS Group upped 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. Canaccord Genuity Group reduced their price target on shares of Barrick Mining to $77.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. Finally, Barclays started coverage on shares of Barrick Mining in a report on Thursday, May 21st. They set an “equal weight” rating and a $41.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $53.46.

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.