Moore Capital Management LP Lowers Stake in Barrick Mining Corporation $B

Moore Capital Management LP lowered its stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 44.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 745,761 shares of the gold and copper producer’s stock after selling 598,038 shares during the quarter. Moore Capital Management LP’s holdings in Barrick Mining were worth $32,478,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Quadrature Capital Ltd grew its holdings in shares of Barrick Mining by 113.2% during the 3rd 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. BlueCrest Capital Management Ltd bought a new position in shares of Barrick Mining during the 3rd quarter valued at $1,889,000. WINTON GROUP Ltd bought a new position in shares of Barrick Mining during the 3rd quarter valued at $12,739,000. Picton Mahoney Asset Management grew its holdings in shares of Barrick Mining by 1,673.9% during the 3rd 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, Schroder Investment Management Group bought a new position in shares of Barrick Mining during the 3rd quarter valued at $111,426,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Canaccord Genuity Group reduced their target price on shares of Barrick Mining to $77.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. UBS Group increased their price objective on Barrick Mining from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Barclays assumed coverage on Barrick Mining in a research note on Thursday, May 21st. They set an “equal weight” rating and a $41.00 price objective for the company. ATB Cormark Capital Markets lowered Barrick Mining from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Finally, Weiss Ratings lowered Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. One research 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $53.46.

Barrick Mining Stock Down 3.4%

Shares of NYSE:B opened at $41.30 on Thursday. Barrick Mining Corporation has a 1 year low of $20.35 and a 1 year high of $54.69. The company has a market cap of $68.70 billion, a PE ratio of 11.41, a P/E/G ratio of 1.22 and a beta of 0.44. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.06 and a quick ratio of 2.44. The stock’s 50-day moving average is $41.55 and its 200 day moving average is $43.91.

Barrick Mining (NYSE:B) (TSE:ABX) last announced 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 return on equity of 14.81% and a net margin of 32.14%.The company 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% on a year-over-year basis. Sell-side analysts anticipate that Barrick Mining Corporation will post 3.78 EPS for the current year.

Barrick Mining Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued 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 was Friday, May 29th. Barrick Mining’s payout ratio is currently 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.