Barrick Mining Corporation $B Shares Sold by Mufg Securities Canada LTD.

Key Points

• Mufg Securities Canada reduced its Barrick Mining stake by 4.6% in the second quarter, selling 114,964 shares and retaining 2.37 million shares valued at approximately $87 million. Institutional investors collectively own 90.82% of the company.
• Barrick reported quarterly earnings of $0.82 per share, slightly exceeding estimates, while revenue reached $4.19 billion and increased 43.8% year over year, though it fell short of consensus expectations.
• The company declared a quarterly dividend of $0.175 per share, equivalent to an annualized $0.70 dividend and a 1.6% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $52.57.

Mufg Securities Canada LTD. trimmed its position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 4.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,370,106 shares of the gold and copper producer's stock after selling 114,964 shares during the period. Barrick Mining makes up about 2.3% of Mufg Securities Canada LTD.'s holdings, making the stock its 17th largest holding. Mufg Securities Canada LTD. owned about 0.14% of Barrick Mining worth $87,011,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Intesa Sanpaolo Wealth Management purchased a new position in Barrick Mining in the fourth quarter valued at $26,000. Ascentis Independent Advisors purchased a new position in shares of Barrick Mining during the first quarter worth about $28,000. Motiv8 Investments LLC acquired a new position in shares of Barrick Mining during the fourth quarter worth about $31,000. Key Financial Inc raised its stake in shares of Barrick Mining by 137.5% during the 1st quarter. Key Financial Inc now owns 753 shares of the gold and copper producer's stock worth $31,000 after buying an additional 436 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. acquired a new stake in shares of Barrick Mining in the fourth quarter valued at about $35,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Mining Price Performance

B opened at $44.81 on Tuesday. The company has a quick ratio of 2.36, a current ratio of 3.01 and a debt-to-equity ratio of 0.13. Barrick Mining Corporation has a 12-month low of $26.16 and a 12-month high of $54.69. The stock has a fifty day moving average of $39.55 and a 200-day moving average of $41.57. The firm has a market capitalization of $73.75 billion, a P/E ratio of 11.55, a PEG ratio of 0.87 and a beta of 0.47.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its quarterly earnings results on Monday, August 10th. The gold and copper producer reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.01. The business had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $5.10 billion. Barrick Mining had a net margin of 31.60% and a return on equity of 16.02%. Barrick Mining's revenue for the quarter was up 43.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.47 earnings per share. Equities analysts forecast that Barrick Mining Corporation will post 3.56 EPS for the current fiscal year.

Barrick Mining Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Monday, August 31st. Barrick Mining's dividend payout ratio (DPR) is 18.04%.

Analyst Ratings Changes

Several research firms have weighed in on B. UBS Group dropped their price target on Barrick Mining from $54.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday, June 30th. Barclays boosted their price objective on shares of Barrick Mining from $39.00 to $42.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 13th. Canadian Imperial Bank of Commerce set a $57.00 target price on Barrick Mining in a report on Wednesday, August 12th. Royal Bank Of Canada lowered their target price on Barrick Mining from $51.00 to $49.00 and set an "outperform" rating for the company in a research note on Thursday, July 9th. Finally, JPMorgan Chase & Co. upped their price target on shares of Barrick Mining from $50.00 to $52.00 and gave the company an "overweight" rating in a report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $52.57.

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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