Artemis Investment Management LLP Sells 194,147 Shares of Barrick Mining Corporation $B

Key Points

• Artemis Investment Management reduced its Barrick Mining stake by 34.5% in the third quarter, selling 194,147 shares and retaining 369,275 shares valued at approximately $15.0 million.
• Institutional investors own 90.82% of Barrick’s stock, while analysts maintain a “Moderate Buy” consensus with an average price target of $53.39.
• Barrick reported quarterly EPS of $0.82, narrowly beating estimates, with revenue rising 43.8% year over year. The company also pays a quarterly dividend of $0.175 per share, equal to a 1.8% annualized yield.

Artemis Investment Management LLP lessened its holdings in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 34.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 369,275 shares of the gold and copper producer's stock after selling 194,147 shares during the period. Artemis Investment Management LLP's holdings in Barrick Mining were worth $15,018,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its position in 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 valued at $2,413,699,000 after acquiring an additional 10,287,544 shares in the last quarter. Employees Provident Fund Board acquired a new position in shares of Barrick Mining during the fourth quarter worth approximately $221,664,000. Renaissance Technologies LLC grew its stake in shares of Barrick Mining by 335.8% during the first quarter. Renaissance Technologies LLC now owns 5,476,478 shares of the gold and copper producer's stock valued at $223,386,000 after purchasing an additional 4,219,700 shares during the last quarter. Royal Bank of Canada grew its stake in shares of Barrick Mining by 10.9% during the first quarter. Royal Bank of Canada now owns 39,598,520 shares of the gold and copper producer's stock valued at $1,615,225,000 after purchasing an additional 3,881,841 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Barrick Mining in the second quarter valued at approximately $117,374,000. Institutional investors own 90.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on B shares. TD set a $59.00 price objective on Barrick Mining and gave the stock a "buy" rating in a report on Wednesday, September 16th. Royal Bank Of Canada raised their target price on shares of Barrick Mining from $49.00 to $53.00 and gave the company an "outperform" rating in a research note on Wednesday, September 16th. Bank of America dropped their price target on shares of Barrick Mining from $56.00 to $54.00 and set a "buy" rating for the company in a research note on Tuesday, August 11th. UBS Group cut their price objective on shares of Barrick Mining from $54.00 to $50.00 and set a "buy" rating on the stock in a report on Tuesday, June 30th. Finally, Scotiabank reduced their price objective on shares of Barrick Mining from $57.00 to $55.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $53.39.

Barrick Mining Trading Up 2.1%

Barrick Mining stock opened at $39.98 on Friday. The company has a market cap of $65.37 billion, a price-to-earnings ratio of 10.31, a P/E/G ratio of 1.15 and a beta of 0.48. The firm has a 50-day moving average of $42.79 and a 200-day moving average of $40.86. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.01 and a quick ratio of 2.36. Barrick Mining Corporation has a one year low of $30.35 and a one year high of $54.69.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last announced its quarterly earnings results 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. The firm had revenue of $4.19 billion during the quarter, compared to analysts' expectations of $5.10 billion. Barrick Mining had a net margin of 31.60% and a return on equity of 16.02%. The company's revenue for the quarter was up 43.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.47 earnings per share. On average, equities analysts expect that Barrick Mining Corporation will post 3.48 earnings per share for the current fiscal year.

Barrick Mining Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend was Monday, August 31st. This represents a $0.70 annualized dividend and a dividend yield of 1.8%. Barrick Mining's dividend payout ratio (DPR) is currently 18.04%.

Barrick Mining Profile

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.

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