Cheviot Value Management LLC Decreases Stake in Barrick Mining Corporation $B

Key Points

• Cheviot Value Management cut its stake in Barrick Mining by 22.5% in the fourth quarter, selling 95,823 shares and leaving it with 330,761 shares valued at about $14.4 million.
• Barrick Mining reported strong quarterly results, with EPS of $1.04 beating estimates by $0.19 and revenue of $5.98 billion topping expectations; revenue also rose 44.6% year over year.
• Analyst sentiment remains generally positive, with an average Moderate Buy rating and a consensus price target of $54.17, despite a few mixed rating changes.

Cheviot Value Management LLC lessened its stake in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 22.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 330,761 shares of the gold and copper producer's stock after selling 95,823 shares during the period. Barrick Mining makes up about 1.5% of Cheviot Value Management LLC's portfolio, making the stock its 19th biggest position. Cheviot Value Management LLC's holdings in Barrick Mining were worth $14,405,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Quadrature Capital Ltd boosted its stake in shares of Barrick Mining by 113.2% in the third quarter. Quadrature Capital Ltd now owns 3,984,800 shares of the gold and copper producer's stock worth $130,764,000 after buying an additional 2,115,800 shares during the last quarter. CIBC Asset Management Inc raised its position in Barrick Mining by 316.0% during the third quarter. CIBC Asset Management Inc now owns 18,287,558 shares of the gold and copper producer's stock valued at $601,115,000 after acquiring an additional 13,891,886 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new position in Barrick Mining in the third quarter valued at approximately $1,889,000. Picton Mahoney Asset Management lifted its holdings in Barrick Mining by 1,673.9% in the third quarter. Picton Mahoney Asset Management now owns 1,577,359 shares of the gold and copper producer's stock valued at $51,797,000 after acquiring an additional 1,488,438 shares during the period. Finally, Truist Financial Corp boosted its position in Barrick Mining by 46.5% in the 3rd quarter. Truist Financial Corp now owns 65,112 shares of the gold and copper producer's stock worth $2,134,000 after purchasing an additional 20,655 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company's stock.

Barrick Mining Stock Up 3.0%

B opened at $43.12 on Friday. The company has a market cap of $72.24 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 1.25 and a beta of 0.41. Barrick Mining Corporation has a twelve month low of $17.41 and a twelve month high of $54.69. The company has a 50-day moving average price of $42.36 and a 200 day moving average price of $42.56. 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 (NYSE:B - Get Free Report) TSE: ABX last posted its quarterly earnings data on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.19. Barrick Mining had a return on equity of 12.10% and a net margin of 29.45%.The company had revenue of $5.98 billion for the quarter, compared to analysts' expectations of $5.15 billion. Barrick Mining's revenue was up 44.6% on a year-over-year basis. Sell-side analysts expect that Barrick Mining Corporation will post 3.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Wall Street Zen raised shares of Barrick Mining from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 7th. Weiss Ratings reissued a "buy (b)" rating on shares of Barrick Mining in a report on Friday, March 27th. Canaccord Genuity Group dropped their price target on shares of Barrick Mining to $77.00 and set a "buy" rating on the stock in a research report on Wednesday, February 18th. JPMorgan Chase & Co. started coverage on shares of Barrick Mining in a report on Thursday, January 29th. They issued an "overweight" rating and a $68.00 price objective for the company. Finally, Zacks Research downgraded shares of Barrick Mining from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $54.17.

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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