Barrick Mining Corporation $B Stock Position Lowered by Skylands Capital LLC

Key Points

• Skylands Capital trimmed its Barrick stake by 12.2%, selling 37,850 shares and retaining 271,325 shares worth about $11.82 million (Barrick is 1.6% of its holdings and its 14th largest position).
• Barrick beat quarterly expectations with EPS of $1.04 (vs. $0.85) and revenue of $5.98 billion, up 44.6% year‑over‑year, and analysts project roughly 3.55 EPS for the fiscal year.
• The company raised its quarterly dividend to $0.42 (annualized $1.68, ~4.1% yield) and holds a consensus rating of "Moderate Buy" with an average price target of $54.17.

Skylands Capital LLC lessened its position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 12.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 271,325 shares of the gold and copper producer's stock after selling 37,850 shares during the period. Barrick Mining makes up 1.6% of Skylands Capital LLC's holdings, making the stock its 14th largest position. Skylands Capital LLC's holdings in Barrick Mining were worth $11,816,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of B. Westside Investment Management Inc. acquired a new position in shares of Barrick Mining in the 4th quarter worth $25,000. Financial Consulate Inc. grew its holdings in shares of Barrick Mining by 1,042.0% in the 4th quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer's stock worth $25,000 after acquiring an additional 521 shares during the last quarter. Nisa Investment Advisors LLC acquired a new position in shares of Barrick Mining in the 4th quarter worth $35,000. Lodestone Wealth Management LLC acquired a new position in shares of Barrick Mining in the 4th quarter worth $35,000. Finally, Arlington Trust Co LLC acquired a new position in shares of Barrick Mining in the 3rd quarter worth $26,000. Institutional investors own 90.82% of the company's stock.

Barrick Mining Stock Performance

Shares of B stock opened at $40.67 on Tuesday. Barrick Mining Corporation has a 1-year low of $17.41 and a 1-year high of $54.69. The company has a current ratio of 2.92, a quick ratio of 2.33 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $68.15 billion, a price-to-earnings ratio of 13.88, a P/E/G ratio of 1.51 and a beta of 0.50. The stock's fifty day simple moving average is $43.39 and its 200-day simple moving average is $42.30.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last issued its quarterly earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.85 by $0.19. Barrick Mining had a return on equity of 12.10% and a net margin of 29.45%.The business had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $5.15 billion. The company's quarterly revenue was up 44.6% compared to the same quarter last year. On average, sell-side analysts predict that Barrick Mining Corporation will post 3.55 earnings per share for the current fiscal year.

Barrick Mining Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Friday, February 27th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 4.1%. This is an increase from Barrick Mining's previous quarterly dividend of $0.18. The ex-dividend date was Friday, February 27th. Barrick Mining's dividend payout ratio is presently 57.34%.

Wall Street Analysts Forecast Growth

B has been the topic of a number of recent research reports. JPMorgan Chase & Co. initiated coverage on Barrick Mining in a report on Thursday, January 29th. They issued an "overweight" rating and a $68.00 target price on the stock. DZ Bank upgraded Barrick Mining to a "strong-buy" rating in a report on Monday, January 19th. Canadian Imperial Bank of Commerce lowered their price target on Barrick Mining to $63.00 and set an "outperformer" rating on the stock in a report on Tuesday, April 21st. ATB Cormark Capital Markets downgraded Barrick Mining from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 7th. Finally, Citigroup lifted their price target on Barrick Mining from $38.00 to $48.00 and gave the company a "neutral" rating in a report on Monday, February 9th. One investment 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 company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.

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