Pictet Asset Management Holding SA Decreases Holdings in Barrick Mining Corporation $B

Pictet Asset Management Holding SA trimmed its stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 23.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 686,680 shares of the gold and copper producer’s stock after selling 215,306 shares during the period. Pictet Asset Management Holding SA’s holdings in Barrick Mining were worth $27,969,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Capital International Investors grew its position in Barrick Mining by 35.9% in the 3rd quarter. Capital International Investors now owns 101,846,588 shares of the gold and copper producer’s stock valued at $3,340,709,000 after acquiring an additional 26,921,219 shares during the last quarter. FIL Ltd increased its holdings in Barrick Mining by 85.3% during the fourth quarter. FIL Ltd now owns 30,099,422 shares of the gold and copper producer’s stock valued at $1,311,169,000 after buying an additional 13,853,587 shares during the period. Van ECK Associates Corp raised its position in shares of Barrick Mining by 22.8% in the 4th quarter. Van ECK Associates Corp now owns 55,423,240 shares of the gold and copper producer’s stock worth $2,413,699,000 after acquiring an additional 10,287,544 shares in the last quarter. Ameriprise Financial Inc. bought a new position in Barrick Mining in the second quarter worth about $211,263,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Barrick Mining during the 2nd quarter worth approximately $172,230,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Mining Price Performance

Barrick Mining stock opened at $36.44 on Thursday. The stock has a market cap of $60.61 billion, a P/E ratio of 10.07, a PEG ratio of 1.05 and a beta of 0.48. The company has a current ratio of 3.06, a quick ratio of 2.44 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $40.56 and a 200 day moving average price of $43.67. Barrick Mining Corporation has a 12-month low of $20.52 and a 12-month high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings data on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.18. The company had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.75 billion. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.Barrick Mining’s revenue was up 66.7% compared to the same quarter last year. Sell-side analysts anticipate that Barrick Mining Corporation will post 3.78 earnings per share for the current year.

Barrick Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were issued a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, May 29th. Barrick Mining’s dividend payout ratio is currently 19.34%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. UBS Group decreased their price target on Barrick Mining from $54.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday. Weiss Ratings downgraded shares of Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. 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 price objective on the stock. Canadian Imperial Bank of Commerce dropped their target price on Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a research report on Tuesday, April 21st. Finally, ATB Cormark Capital Markets cut shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Barrick Mining has an average rating of “Moderate Buy” and a consensus target price of $53.15.

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.