Quantitative Investment Management LLC Reduces Stock Position in Barrick Mining Corporation $B

Quantitative Investment Management LLC lessened its stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 53.2% in the second quarter, HoldingsChannel reports. The firm owned 25,062 shares of the gold and copper producer’s stock after selling 28,470 shares during the period. Quantitative Investment Management LLC’s holdings in Barrick Mining were worth $920,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of B. CW Advisors LLC bought a new stake in shares of Barrick Mining in the second quarter worth $283,000. EverSource Wealth Advisors LLC purchased a new position in Barrick Mining in the second quarter worth about $53,000. First Trust Advisors LP purchased a new position in Barrick Mining in the second quarter worth about $857,000. Baird Financial Group Inc. bought a new stake in shares of Barrick Mining during the 2nd quarter valued at about $2,569,000. Finally, Cresset Asset Management LLC bought a new stake in shares of Barrick Mining during the 2nd quarter valued at about $543,000. 90.82% of the stock is owned by institutional investors.

Barrick Mining Stock Performance

Shares of B opened at $43.05 on Wednesday. The business has a 50-day simple moving average of $39.65 and a two-hundred day simple moving average of $41.53. The company has a quick ratio of 2.36, a current ratio of 3.01 and a debt-to-equity ratio of 0.13. Barrick Mining Corporation has a 52 week low of $26.55 and a 52 week high of $54.69. The stock has a market cap of $70.86 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 1.28 and a beta of 0.51.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings data on Monday, August 10th. The gold and copper producer reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. The firm had revenue of $4.19 billion for the quarter, compared to analysts’ expectations of $5.10 billion. Barrick Mining had a return on equity of 16.02% and a net margin of 31.60%.The business’s quarterly revenue was up 43.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.47 EPS. On average, analysts expect that Barrick Mining Corporation will post 3.56 EPS for the current year.

Barrick Mining Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a dividend of $0.175 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.70 annualized dividend and a yield of 1.6%. Barrick Mining’s payout ratio is currently 18.04%.

Wall Street Analyst Weigh In

B has been the subject of several research reports. Canadian Imperial Bank of Commerce set a $57.00 price target on shares of Barrick Mining in a research report on Wednesday, August 12th. Citigroup reissued a “positive” rating on shares of Barrick Mining in a report on Wednesday, July 15th. UBS Group cut their target price on shares of Barrick Mining from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Bank of America reduced their target price on shares of Barrick Mining from $56.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. Finally, Scotiabank decreased their price target on shares of Barrick Mining from $57.00 to $55.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $52.57.

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.