Capital World Investors Has $537.94 Million Holdings in Barrick Mining Corporation $B

Key Points

• Capital World Investors cut its stake in Barrick by 30.5% in Q3, selling 7,217,563 shares and ending the period with 16,415,500 shares worth about $537.94 million (roughly 0.97% of the company).
• Barrick beat estimates with EPS $1.04 vs. $0.85 and revenue of $5.98 billion (up 44.6% y/y), and the board raised the quarterly dividend to $0.42 (annualized $1.68, ~3.6% yield).
• Analysts rate Barrick a consensus "Moderate Buy" with an average target of $55.25; the stock has a market cap of $77.25 billion and a P/E of 15.74.

Capital World Investors decreased its position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 30.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 16,415,500 shares of the gold and copper producer's stock after selling 7,217,563 shares during the period. Capital World Investors owned about 0.97% of Barrick Mining worth $537,936,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in B. Arlington Trust Co LLC purchased a new stake in shares of Barrick Mining in the third quarter valued at $26,000. Provenance Wealth Advisors LLC purchased a new position in shares of Barrick Mining during the third quarter valued at $32,000. Wealth Preservation Advisors LLC acquired a new position in Barrick Mining during the second quarter valued at $33,000. Investors Research Corp acquired a new position in Barrick Mining during the third quarter valued at $36,000. Finally, CENTRAL TRUST Co purchased a new stake in Barrick Mining in the 2nd quarter worth about $37,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Mining Stock Performance

Shares of B opened at $46.11 on Wednesday. The firm has a market cap of $77.25 billion, a price-to-earnings ratio of 15.74, a price-to-earnings-growth ratio of 1.43 and a beta of 0.41. The company's fifty day moving average is $47.94 and its 200-day moving average is $39.75. 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 $17.00 and a 12 month high of $54.69.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released its quarterly earnings data on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.19. The business had revenue of $5.98 billion during the quarter, compared to analyst estimates of $5.15 billion. Barrick Mining had a net margin of 29.45% and a return on equity of 12.10%. The business's revenue was up 44.6% on a year-over-year basis. Equities analysts expect that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be paid a dividend of $0.42 per share. This is a boost from Barrick Mining's previous quarterly dividend of $0.18. The ex-dividend date is Friday, February 27th. This represents a $1.68 annualized dividend and a dividend yield of 3.6%. Barrick Mining's dividend payout ratio is currently 57.34%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on B. UBS Group set a $55.00 price objective on Barrick Mining in a research report on Friday, February 6th. Bank of America raised shares of Barrick Mining from a "neutral" rating to a "buy" rating and increased their price target for the stock from $38.00 to $48.00 in a research report on Monday, November 24th. ATB Cormark Capital Markets upgraded shares of Barrick Mining to a "moderate buy" rating in a report on Monday, February 9th. Jefferies Financial Group reaffirmed a "buy" rating and set a $55.00 price objective on shares of Barrick Mining in a research report on Sunday, December 7th. Finally, Canadian Imperial Bank of Commerce reiterated an "outperform" rating and issued a $71.00 price objective on shares of Barrick Mining in a research note on Wednesday, February 4th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Barrick Mining presently has an average rating of "Moderate Buy" and a consensus target price of $55.25.

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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