Barrick Mining Corporation $B Shares Sold by Causeway Capital Management LLC

Key Points

• Causeway Capital reduced its stake in Barrick by 11.1% in Q3, selling 1,959,176 shares and now holds 15,694,240 shares (about 0.93% of the company) worth roughly $514.6 million, making it Causeway's fourth-largest position.
• Barrick beat expectations with Q EPS of $1.04 vs. $0.85 est. and revenue of $5.98B (+44.6% YoY), and raised its quarterly dividend to $0.42 (annualized $1.68, ~3.7% yield; ex-dividend Feb 27, payable Mar 16).
• Wall Street sentiment is broadly positive—the stock has an average analyst price target of $55.25 and a "Moderate Buy" consensus; shares trade around $45.86 with a market cap near $76.8 billion and a P/E of 15.65.

Causeway Capital Management LLC lowered its stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 11.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,694,240 shares of the gold and copper producer's stock after selling 1,959,176 shares during the quarter. Barrick Mining accounts for approximately 6.8% of Causeway Capital Management LLC's portfolio, making the stock its 4th largest position. Causeway Capital Management LLC owned approximately 0.93% of Barrick Mining worth $514,553,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Cary Street Partners Investment Advisory LLC boosted its stake in Barrick Mining by 19.8% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 2,260 shares of the gold and copper producer's stock worth $74,000 after acquiring an additional 373 shares in the last quarter. Legend Financial Advisors Inc. increased its stake in Barrick Mining by 0.9% in the third quarter. Legend Financial Advisors Inc. now owns 45,139 shares of the gold and copper producer's stock valued at $1,479,000 after purchasing an additional 399 shares in the last quarter. Ascent Group LLC raised its holdings in shares of Barrick Mining by 2.9% during the third quarter. Ascent Group LLC now owns 14,514 shares of the gold and copper producer's stock valued at $476,000 after purchasing an additional 404 shares during the period. Mesirow Financial Investment Management Inc. boosted its position in shares of Barrick Mining by 1.1% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 36,792 shares of the gold and copper producer's stock worth $1,206,000 after purchasing an additional 410 shares in the last quarter. Finally, Parallel Advisors LLC boosted its position in shares of Barrick Mining by 16.0% during the 3rd quarter. Parallel Advisors LLC now owns 4,214 shares of the gold and copper producer's stock worth $138,000 after purchasing an additional 581 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. UBS Group set a $55.00 target price on Barrick Mining in a research report on Friday, February 6th. Citigroup increased their price target on Barrick Mining from $38.00 to $48.00 and gave the stock a "neutral" rating in a report on Monday, February 9th. DZ Bank raised Barrick Mining to a "strong-buy" rating in a research note on Monday, January 19th. BNP Paribas Exane raised Barrick Mining to a "neutral" rating and set a $50.00 target price on the stock in a research report on Friday, December 5th. Finally, Bank of America upgraded Barrick Mining from a "neutral" rating to a "buy" rating and increased their target price for the stock from $38.00 to $48.00 in a report on Monday, November 24th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $55.25.

Barrick Mining Stock Up 1.0%

Barrick Mining stock opened at $45.86 on Tuesday. Barrick Mining Corporation has a fifty-two week low of $17.00 and a fifty-two week high of $54.69. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.33 and a current ratio of 2.92. The firm's 50-day simple moving average is $47.90 and its 200 day simple moving average is $39.61. The stock has a market cap of $76.82 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 1.42 and a beta of 0.41.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 EPS for the quarter, topping the consensus estimate of $0.85 by $0.19. Barrick Mining had a net margin of 29.45% and a return on equity of 12.10%. The firm had revenue of $5.98 billion for the quarter, compared to analysts' expectations of $5.15 billion. The business's quarterly revenue was up 44.6% on a year-over-year basis. Research analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.7%. This is an increase from Barrick Mining's previous quarterly dividend of $0.18. The ex-dividend date is Friday, February 27th. Barrick Mining's dividend payout ratio is 57.34%.

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.

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.