Barrick Mining Corporation $B Shares Sold by PKO Investment Management Joint Stock Co

Key Points

• PKO Investment Management reduced its stake in Barrick Mining by 24.2% in Q4, selling 171,000 shares and leaving 534,921 shares valued at about $23.34 million, making Barrick the firm's 13th-largest holding.
• Barrick reported stronger-than-expected Q results with EPS $1.04 vs. $0.85 consensus and revenue of $5.98 billion (up 44.6% YoY), and boosted its quarterly dividend to $0.42 ($1.68 annualized, ~4.3% yield) from $0.18.
• Analyst sentiment is generally positive with a consensus rating of "Moderate Buy" and a mean target price of about $54.17, while individual firm views range from Hold to Buy/Overweight.

PKO Investment Management Joint Stock Co reduced its holdings in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 24.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 534,921 shares of the gold and copper producer's stock after selling 171,000 shares during the quarter. Barrick Mining accounts for 1.9% of PKO Investment Management Joint Stock Co's holdings, making the stock its 13th biggest position. PKO Investment Management Joint Stock Co's holdings in Barrick Mining were worth $23,344,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Financial Consulate Inc. increased its holdings in shares of Barrick Mining by 1,042.0% in the fourth quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer's stock valued at $25,000 after buying an additional 521 shares in the last quarter. Westside Investment Management Inc. bought a new stake in shares of Barrick Mining during the 4th quarter worth $25,000. Arlington Trust Co LLC bought a new stake in shares of Barrick Mining during the 3rd quarter worth $26,000. JPL Wealth Management LLC acquired a new position in shares of Barrick Mining in the 3rd quarter worth $28,000. Finally, Laurel Wealth Advisors LLC acquired a new position in shares of Barrick Mining in the 4th quarter worth $30,000. 90.82% of the stock is owned by institutional investors and hedge funds.

Barrick Mining Stock Performance

Shares of Barrick Mining stock opened at $38.79 on Friday. The stock has a market cap of $64.99 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 1.42 and a beta of 0.41. The business has a fifty day simple moving average of $42.85 and a 200-day simple moving average of $42.36. The company has a quick ratio of 2.33, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. Barrick Mining Corporation has a 12 month low of $17.41 and a 12 month high of $54.69.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its quarterly earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.19. The firm had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.15 billion. Barrick Mining had a return on equity of 12.10% and a net margin of 29.45%.The firm's revenue was up 44.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Barrick Mining Corporation will post 3.56 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 27th were issued a $0.42 dividend. The ex-dividend date was Friday, February 27th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.3%. This is a positive change from Barrick Mining's previous quarterly dividend of $0.18. Barrick Mining's dividend payout ratio is currently 57.34%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on B shares. UBS Group reduced their target price on Barrick Mining from $55.00 to $50.00 and set a "buy" rating for the company in a report on Friday, March 27th. ATB Cormark Capital Markets cut Barrick Mining from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 7th. Canaccord Genuity Group reduced their price objective on shares of Barrick Mining to $77.00 and set a "buy" rating for the company in a research note on Wednesday, February 18th. Weiss Ratings reiterated a "buy (b)" rating on shares of Barrick Mining in a report on Friday, March 27th. Finally, JPMorgan Chase & Co. started coverage on shares of Barrick Mining in a research report on Thursday, January 29th. They issued an "overweight" rating and a $68.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $54.17.

Barrick Mining Profile

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.

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.