Barrick Mining Corporation $B Shares Sold by Freemont Management S.A.

Key Points

• Freemont Management S.A. cut its Barrick Mining stake by 53.8% in the fourth quarter, leaving it with 49,300 shares valued at about $2.15 million.
• Barrick reported strong Q1 results, beating EPS estimates and benefiting from stronger gold production and higher cash flow, while revenue also rose sharply year over year.
• The company announced a $3 billion share buyback program and continued its dividend, reinforcing confidence in future cash generation and shareholder returns.

Freemont Management S.A. lessened its stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 53.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,300 shares of the gold and copper producer's stock after selling 57,300 shares during the quarter. Freemont Management S.A.'s holdings in Barrick Mining were worth $2,147,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Quadrature Capital Ltd raised its stake in shares of Barrick Mining by 113.2% in the 3rd quarter. Quadrature Capital Ltd now owns 3,984,800 shares of the gold and copper producer's stock valued at $130,764,000 after acquiring an additional 2,115,800 shares during the period. CIBC Asset Management Inc raised its stake in shares of Barrick Mining by 316.0% in the 3rd quarter. CIBC Asset Management Inc now owns 18,287,558 shares of the gold and copper producer's stock valued at $601,115,000 after acquiring an additional 13,891,886 shares during the period. BlueCrest Capital Management Ltd purchased a new position in shares of Barrick Mining in the 3rd quarter valued at $1,889,000. Picton Mahoney Asset Management increased its stake in Barrick Mining by 1,673.9% during the 3rd quarter. Picton Mahoney Asset Management now owns 1,577,359 shares of the gold and copper producer's stock worth $51,797,000 after buying an additional 1,488,438 shares during the period. Finally, Truist Financial Corp increased its stake in Barrick Mining by 46.5% during the 3rd quarter. Truist Financial Corp now owns 65,112 shares of the gold and copper producer's stock worth $2,134,000 after buying an additional 20,655 shares during the period. Institutional investors and hedge funds own 90.82% of the company's stock.

Barrick Mining Stock Down 2.1%

B stock opened at $44.88 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.06 and a quick ratio of 2.33. Barrick Mining Corporation has a 1-year low of $17.41 and a 1-year high of $54.69. The firm has a fifty day moving average price of $41.95 and a two-hundred day moving average price of $42.92. The firm has a market cap of $75.19 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 1.36 and a beta of 0.41.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its quarterly earnings results on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $4.75 billion. Barrick Mining's revenue was up 66.7% on a year-over-year basis. Research analysts predict that Barrick Mining Corporation will post 3.57 EPS for the current year.

Barrick Mining Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be issued a $0.175 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.70 dividend on an annualized basis and a yield of 1.6%. Barrick Mining's dividend payout ratio (DPR) is currently 46.41%.

Barrick Mining News Summary

Here are the key news stories impacting Barrick Mining this week:

• Positive Sentiment: Barrick topped Q1 expectations with stronger-than-expected gold production, higher cash flow, and earnings above estimates, reinforcing confidence in its operating execution. Barrick Mining's Q1 Earnings and Sales Beat on Higher Gold Prices
• Positive Sentiment: The company announced a $3 billion share buyback program and maintained its dividend, signaling confidence in future cash generation and boosting shareholder-return appeal. Barrick bursts to two-month high after Q1 beat, $3B stock buyback plan
• Positive Sentiment: Analysts and commentators highlighted Barrick’s stronger free cash flow, higher realized gold prices, and improved profitability, with some calling it one of the better Canadian gold stocks right now. Here is Why Barrick Mining (B) is One of the Best Canadian Gold Stocks
• Neutral Sentiment: Investor attention is also building around Barrick’s planned North American spin-off, especially its Nevada gold assets, which could unlock value over time but is still in the planning stage. Barrick’s North American spin-off draws attention to Nevada gold treasure
• Neutral Sentiment: Some valuation-focused coverage suggests the stock has had a very strong run and may be less cheap than it was previously, which could temper upside expectations. Has Barrick Mining (B) Risen Too Far After 158% One Year Share Price Surge?

Analyst Upgrades and Downgrades

B has been the topic of several analyst reports. Canaccord Genuity Group dropped their price target on shares of Barrick Mining to $77.00 and set a "buy" rating on the stock in a research note on Wednesday, February 18th. Wall Street Zen raised shares of Barrick Mining from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 7th. JPMorgan Chase & Co. initiated coverage on shares of Barrick Mining in a research note on Thursday, January 29th. They set an "overweight" rating and a $68.00 price target on the stock. Citigroup lifted their price target on shares of Barrick Mining from $38.00 to $48.00 and gave the stock a "neutral" rating in a research note on Monday, February 9th. Finally, Scotiabank lifted their price target on shares of Barrick Mining from $43.00 to $63.00 and gave the stock an "outperform" rating in a research note on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Barrick Mining has an average rating of "Moderate Buy" and an average target price of $54.50.

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.