Barrick Mining Corporation (NYSE:B) Shares Sold by Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.

Key Points

• Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. significantly reduced its stake in Barrick Mining Corporation by 83.1%, making the stock its 5th largest holding.
• Recent analyst ratings show a consensus of "Moderate Buy" for Barrick Mining, with price targets ranging from $22.00 to $28.00.
• Barrick Mining reported a quarterly earnings per share of $0.35, exceeding estimates, with revenue up 13.9% year-over-year despite a decline from consensus expectations.

Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. trimmed its holdings in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 83.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,700 shares of the gold and copper producer's stock after selling 303,538 shares during the quarter. Barrick Mining makes up approximately 5.1% of Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.'s holdings, making the stock its 5th biggest position. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.'s holdings in Barrick Mining were worth $1,199,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of B. Vega Investment Solutions purchased a new position in Barrick Mining in the fourth quarter worth about $31,000. Nexus Investment Management ULC bought a new position in Barrick Mining during the first quarter valued at $32,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Barrick Mining during the 4th quarter worth about $37,000. Ameriflex Group Inc. bought a new position in Barrick Mining in the 4th quarter valued at $39,000. Finally, MassMutual Private Wealth & Trust FSB lifted its position in shares of Barrick Mining by 55.8% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 2,193 shares of the gold and copper producer's stock worth $43,000 after purchasing an additional 785 shares during the last quarter. Institutional investors own 90.82% of the company's stock.

Barrick Mining Stock Up 4.0%

NYSE B traded up $0.85 on Monday, hitting $22.22. 16,789,590 shares of the stock were exchanged, compared to its average volume of 10,406,852. Barrick Mining Corporation has a fifty-two week low of $15.11 and a fifty-two week high of $22.27. The company has a 50-day moving average price of $20.80 and a 200-day moving average price of $19.20. The company has a quick ratio of 2.16, a current ratio of 2.87 and a debt-to-equity ratio of 0.14. The company has a market cap of $37.91 billion, a PE ratio of 16.71, a PEG ratio of 0.32 and a beta of 0.27.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released its quarterly earnings data on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.06. Barrick Mining had a net margin of 17.46% and a return on equity of 7.51%. The company had revenue of $3 billion for the quarter, compared to analysts' expectations of $3.15 billion. During the same quarter last year, the company earned $0.19 earnings per share. The firm's revenue for the quarter was up 13.9% on a year-over-year basis. Sell-side analysts anticipate that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, May 30th. Barrick Mining's dividend payout ratio (DPR) is presently 30.08%.

Analysts Set New Price Targets

A number of analysts have commented on B shares. BMO Capital Markets initiated coverage on Barrick Mining in a research report on Wednesday, April 16th. They set a "market perform" rating for the company. Royal Bank Of Canada set a $26.00 target price on Barrick Mining and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. UBS Group boosted their price target on Barrick Mining from $22.00 to $25.00 and gave the company a "buy" rating in a report on Friday, April 11th. Scotiabank lifted their target price on shares of Barrick Mining from $20.00 to $22.00 and gave the company a "sector perform" rating in a report on Monday, April 14th. Finally, CIBC raised their price target on shares of Barrick Mining from $24.00 to $28.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Barrick Mining has a consensus rating of "Moderate Buy" and a consensus target price of $24.41.

About Barrick Mining

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.   In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.