Assenagon Asset Management S.A. Sells 96,686 Shares of Barrick Mining Corporation $B

Key Points

• Assenagon Asset Management cut its stake in Barrick Mining by 72.2% in the first quarter, selling 96,686 shares and leaving it with 37,277 shares worth about $1.52 million.
• Other institutional investors have been active in the stock, and overall institutional ownership remains high at 90.82% of Barrick Mining’s shares.
• Barrick reported quarterly EPS of $0.98, beating estimates, while revenue came in below expectations; the company also paid a quarterly dividend of $0.175, implying a 1.9% annual yield.

Assenagon Asset Management S.A. lessened its stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 72.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,277 shares of the gold and copper producer's stock after selling 96,686 shares during the period. Assenagon Asset Management S.A.'s holdings in Barrick Mining were worth $1,519,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in B. Capital International Investors grew its holdings in Barrick Mining by 35.9% during the 3rd quarter. Capital International Investors now owns 101,846,588 shares of the gold and copper producer's stock worth $3,340,709,000 after acquiring an additional 26,921,219 shares during the period. Van ECK Associates Corp boosted 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 purchasing an additional 10,287,544 shares during the last quarter. FIL Ltd grew its stake in shares of 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 worth $1,311,169,000 after purchasing an additional 13,853,587 shares during the period. Mackenzie Financial Corp grew its stake in shares of Barrick Mining by 61.9% during the fourth quarter. Mackenzie Financial Corp now owns 20,591,745 shares of the gold and copper producer's stock worth $909,104,000 after purchasing an additional 7,870,411 shares during the period. Finally, TD Asset Management Inc increased its holdings in Barrick Mining by 5.6% in the fourth quarter. TD Asset Management Inc now owns 20,395,667 shares of the gold and copper producer's stock valued at $889,627,000 after purchasing an additional 1,086,332 shares during the last quarter. Institutional investors own 90.82% of the company's stock.

Analyst Upgrades and Downgrades

B has been the topic of a number of recent analyst reports. Weiss Ratings cut Barrick Mining from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, May 11th. Barclays began coverage on shares of Barrick Mining in a research report on Thursday, May 21st. They issued an "equal weight" rating and a $41.00 price target on the stock. UBS Group reduced their price objective on shares of Barrick Mining from $54.00 to $50.00 and set a "buy" rating on the stock in a research note on Tuesday. ATB Cormark Capital Markets cut shares of Barrick Mining from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 7th. Finally, Canadian Imperial Bank of Commerce lowered their target price on shares of Barrick Mining to $63.00 and set an "outperformer" rating for the company in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $53.15.

Barrick Mining Stock Performance

NYSE B opened at $36.44 on Thursday. The firm has a market capitalization of $60.61 billion, a P/E ratio of 10.07, a price-to-earnings-growth 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 firm's fifty day moving average price is $40.56 and its two-hundred day moving average price is $43.67. Barrick Mining Corporation has a 1 year low of $20.52 and a 1 year high of $54.69.

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

Barrick Mining Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were given a $0.175 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.70 annualized dividend and a dividend yield of 1.9%. Barrick Mining's dividend payout ratio is presently 19.34%.

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.

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