873,519 Barrick Mining Corporation $B Shares Sold by Perpetual Ltd

Key Points

• Perpetual Ltd cut its Barrick Mining stake by 47%, selling 873,519 shares and retaining 986,173 shares worth approximately $40.1 million. Institutional investors overall own 90.82% of the company.
• Barrick reported quarterly EPS of $0.82, slightly beating estimates, while revenue rose 43.8% year over year to $4.19 billion. The company also declared a quarterly dividend of $0.175 per share, equating to a 1.7% yield.
• Analysts maintain a favorable outlook, with Barrick receiving a consensus “Moderate Buy” rating and an average price target of $53.39, compared with a recent share price of $40.87.

Perpetual Ltd lessened its stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 47.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 986,173 shares of the gold and copper producer's stock after selling 873,519 shares during the period. Perpetual Ltd owned 0.06% of Barrick Mining worth $40,108,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of B. Employees Provident Fund Board acquired a new stake in shares of Barrick Mining during the fourth quarter valued at approximately $221,664,000. Renaissance Technologies LLC boosted its stake in Barrick Mining by 335.8% in the 1st quarter. Renaissance Technologies LLC now owns 5,476,478 shares of the gold and copper producer's stock worth $223,386,000 after purchasing an additional 4,219,700 shares during the period. Royal Bank of Canada boosted its stake in Barrick Mining by 10.9% in the 1st quarter. Royal Bank of Canada now owns 39,598,520 shares of the gold and copper producer's stock worth $1,615,225,000 after purchasing an additional 3,881,841 shares during the period. Bank of New York Mellon Corp acquired a new position in Barrick Mining in the 2nd quarter worth approximately $117,374,000. Finally, Lazard Asset Management LLC grew its position in Barrick Mining by 46.9% during the 1st quarter. Lazard Asset Management LLC now owns 3,837,842 shares of the gold and copper producer's stock worth $156,833,000 after purchasing an additional 1,224,980 shares in the last quarter. Institutional investors own 90.82% of the company's stock.

Barrick Mining Price Performance

NYSE B opened at $40.87 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.01 and a quick ratio of 2.36. The firm has a market capitalization of $66.81 billion, a price-to-earnings ratio of 10.53, a price-to-earnings-growth ratio of 1.20 and a beta of 0.48. The company has a 50 day simple moving average of $42.95 and a 200-day simple moving average of $40.91. Barrick Mining Corporation has a 52-week low of $30.35 and a 52-week high of $54.69.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last announced its quarterly earnings data on Monday, August 10th. The gold and copper producer reported $0.82 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.01. Barrick Mining had a net margin of 31.60% and a return on equity of 16.02%. The firm had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $5.10 billion. During the same period in the previous year, the firm posted $0.47 earnings per share. The firm's revenue was up 43.8% on a year-over-year basis. Equities research analysts predict that Barrick Mining Corporation will post 3.48 earnings per share for the current fiscal year.

Barrick Mining Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were issued a dividend of $0.1750 per share. This represents a $0.70 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Monday, August 31st. Barrick Mining's payout ratio is currently 18.04%.

Wall Street Analyst Weigh In

Several analysts have issued reports on B shares. Canadian Imperial Bank of Commerce set a $57.00 target price on shares of Barrick Mining in a research note on Wednesday, August 12th. UBS Group decreased their target price on Barrick Mining from $54.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday, June 30th. Royal Bank Of Canada lifted their price target on Barrick Mining from $49.00 to $53.00 and gave the company an "outperform" rating in a report on Wednesday, September 16th. Weiss Ratings upgraded Barrick Mining from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday. Finally, TD set a $59.00 price target on Barrick Mining and gave the company a "buy" rating in a research report on Wednesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Barrick Mining presently has an average rating of "Moderate Buy" and a consensus price target of $53.39.

About Barrick Mining

Barrick Mining Corporation, formerly known as Barrick Gold Corporation, is a global mining company focused primarily on the exploration, development and production of gold and copper. Its activities include operating mines, advancing development projects and managing mineral reserves across multiple jurisdictions.

The company's gold operations include Nevada Gold Mines in the United States, a joint venture in which Barrick is the operator, as well as mines and projects in Canada, the Dominican Republic, Mali, Côte d'Ivoire, Tanzania and the Democratic Republic of the Congo.

Want to see what other hedge funds are holding B? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.