Aigen Investment Management LP Lowers Position in Barrick Mining Corporation $B

Key Points

• Aigen Investment Management LP cut its Barrick Mining stake by 74.2% in the fourth quarter, selling 42,566 shares and leaving it with 14,837 shares worth about $646,000.
• Barrick Mining reported Q1 earnings of $0.98 per share, beating estimates, even though revenue of $4.11 billion fell short of expectations; quarterly revenue was still up 66.7% year over year.
• The company declared a quarterly dividend of $0.175 per share and currently has a consensus analyst rating of Moderate Buy with an average price target of $53.46.

Aigen Investment Management LP trimmed its position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 74.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,837 shares of the gold and copper producer's stock after selling 42,566 shares during the period. Aigen Investment Management LP's holdings in Barrick Mining were worth $646,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Bogart Wealth LLC grew its position in shares of Barrick Mining by 3.5% in the 4th quarter. Bogart Wealth LLC now owns 6,442 shares of the gold and copper producer's stock worth $281,000 after buying an additional 218 shares during the last quarter. Mmbg Investment Advisors CO. grew its position in shares of Barrick Mining by 0.6% in the 4th quarter. Mmbg Investment Advisors CO. now owns 43,454 shares of the gold and copper producer's stock worth $1,892,000 after buying an additional 254 shares during the last quarter. S.A. Mason LLC grew its position in shares of Barrick Mining by 1.3% in the 4th quarter. S.A. Mason LLC now owns 23,114 shares of the gold and copper producer's stock worth $1,007,000 after buying an additional 300 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Barrick Mining by 1.0% in the 4th quarter. Sequoia Financial Advisors LLC now owns 31,212 shares of the gold and copper producer's stock worth $1,359,000 after buying an additional 302 shares during the last quarter. Finally, Legacy Financial Advisors Inc. boosted its position in shares of Barrick Mining by 3.9% during the fourth quarter. Legacy Financial Advisors Inc. now owns 8,569 shares of the gold and copper producer's stock valued at $373,000 after purchasing an additional 319 shares in the last quarter. 90.82% of the stock is currently owned by institutional investors.

Barrick Mining Trading Up 0.0%

Shares of B stock opened at $40.22 on Monday. Barrick Mining Corporation has a 1 year low of $20.35 and a 1 year high of $54.69. 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 simple moving average is $41.51 and its two-hundred day simple moving average is $43.88. The company has a market cap of $66.89 billion, a PE ratio of 11.11, a price-to-earnings-growth ratio of 1.14 and a beta of 0.43.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.18. The firm had revenue of $4.11 billion for the quarter, compared to analysts' expectations of $4.75 billion. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The business's quarterly revenue was up 66.7% on a year-over-year basis. Research analysts predict that Barrick Mining Corporation will post 3.78 earnings per share for the current year.

Barrick Mining Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, May 29th. Barrick Mining's dividend payout ratio (DPR) is 19.34%.

Analysts Set New Price Targets

A number of research analysts have issued reports on B shares. Canaccord Genuity Group lowered their price objective on Barrick Mining to $77.00 and set a "buy" rating for the company in a research note on Wednesday, February 18th. Canadian Imperial Bank of Commerce decreased their price target on Barrick Mining to $63.00 and set an "outperformer" rating for the company in a research note on Tuesday, April 21st. UBS Group boosted their price target on Barrick Mining from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Tuesday, May 12th. Weiss Ratings cut Barrick Mining from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, May 11th. Finally, Barclays initiated coverage on Barrick Mining in a research note on Thursday, May 21st. They issued an "equal weight" rating and a $41.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Barrick Mining presently has a consensus rating of "Moderate Buy" and a consensus price target of $53.46.

Barrick Mining Company 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.

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