Cinctive Capital Management LP Sells 116,288 Shares of Barrick Mining Corporation $B

Key Points

• Cinctive Capital Management reduced its Barrick Mining stake by 47.5% in the fourth quarter, selling 116,288 shares and leaving it with 128,571 shares worth about $5.6 million.
• Barrick Mining reported better-than-expected earnings of $0.98 per share for the quarter, though revenue of $4.11 billion fell short of analyst estimates.
• The stock was down 3.4% to $41.30, while analysts maintained a generally positive view with a consensus rating of Moderate Buy and an average price target of $53.46.

Cinctive Capital Management LP cut its stake in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 47.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 128,571 shares of the gold and copper producer's stock after selling 116,288 shares during the period. Cinctive Capital Management LP's holdings in Barrick Mining were worth $5,599,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Capital International Investors lifted its stake in Barrick Mining by 35.9% during the 3rd quarter. Capital International Investors now owns 101,846,588 shares of the gold and copper producer's stock valued at $3,340,709,000 after acquiring an additional 26,921,219 shares in the last quarter. Vanguard Group Inc. lifted its stake in Barrick Mining by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 70,878,168 shares of the gold and copper producer's stock valued at $2,327,991,000 after acquiring an additional 767,544 shares in the last quarter. Van ECK Associates Corp lifted its stake in Barrick Mining by 22.8% during the 4th quarter. Van ECK Associates Corp now owns 55,423,240 shares of the gold and copper producer's stock valued at $2,413,699,000 after acquiring an additional 10,287,544 shares in the last quarter. FIL Ltd lifted its stake in Barrick Mining by 85.3% during the 4th quarter. FIL Ltd now owns 30,099,422 shares of the gold and copper producer's stock valued at $1,311,169,000 after acquiring an additional 13,853,587 shares in the last quarter. Finally, TD Asset Management Inc lifted its stake in Barrick Mining by 5.6% during the 4th quarter. TD Asset Management Inc now owns 20,395,667 shares of the gold and copper producer's stock valued at $889,627,000 after acquiring an additional 1,086,332 shares in the last quarter. 90.82% of the stock is currently owned by institutional investors.

Barrick Mining Trading Down 3.4%

Shares of B opened at $41.30 on Thursday. The business has a 50-day moving average of $41.55 and a 200 day moving average of $43.91. Barrick Mining Corporation has a fifty-two week low of $20.35 and a fifty-two week high of $54.69. The firm has a market cap of $68.70 billion, a P/E ratio of 11.41, a price-to-earnings-growth ratio of 1.22 and a beta of 0.44. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.44 and a current ratio of 3.06.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last announced its quarterly earnings data on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.18. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The company had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.75 billion. The business's revenue for the quarter was up 66.7% on a year-over-year basis. As a group, research analysts forecast that Barrick Mining Corporation will post 3.78 EPS for the current year.

Barrick Mining Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a $0.175 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.70 annualized dividend and a yield of 1.7%. Barrick Mining's dividend payout ratio (DPR) is 19.34%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Canadian Imperial Bank of Commerce dropped their price objective on Barrick Mining to $63.00 and set an "outperformer" rating on the stock in a research note on Tuesday, April 21st. Canaccord Genuity Group dropped their price objective on Barrick Mining to $77.00 and set a "buy" rating on the stock in a research note on Wednesday, February 18th. UBS Group raised their price objective on Barrick Mining from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Tuesday, May 12th. Barclays initiated coverage on Barrick Mining in a research note on Thursday, May 21st. They set an "equal weight" rating and a $41.00 target price on the stock. Finally, Weiss Ratings cut Barrick Mining from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $53.46.

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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