De Lisle Partners LLP Sells 15,000 Shares of Barrick Mining Corporation (NYSE:B)

Key Points

• De Lisle Partners LLP has reduced its stake in Barrick Mining Corporation by 9.8%, selling 15,000 shares to hold a total of 138,000 shares valued at approximately $2.68 million.
• Barrick Mining reported $0.35 earnings per share for the last quarter, exceeding expectations, but had revenue that fell short of analyst estimates at $3 billion.
• The company recently declared a quarterly dividend of $0.10, resulting in an annualized dividend yield of 1.87%.

De Lisle Partners LLP lessened its stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 9.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 138,000 shares of the gold and copper producer's stock after selling 15,000 shares during the quarter. De Lisle Partners LLP's holdings in Barrick Mining were worth $2,685,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Penserra Capital Management LLC grew its stake in shares of Barrick Mining by 1,919.0% during the 1st quarter. Penserra Capital Management LLC now owns 2,968 shares of the gold and copper producer's stock worth $56,000 after purchasing an additional 2,821 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Barrick Mining by 14.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 73,636 shares of the gold and copper producer's stock worth $1,141,000 after purchasing an additional 9,149 shares during the period. Sequoia Financial Advisors LLC grew its stake in shares of Barrick Mining by 24.4% during the 1st quarter. Sequoia Financial Advisors LLC now owns 20,795 shares of the gold and copper producer's stock worth $404,000 after purchasing an additional 4,082 shares during the period. Janney Montgomery Scott LLC grew its holdings in Barrick Mining by 25.9% in the first quarter. Janney Montgomery Scott LLC now owns 291,281 shares of the gold and copper producer's stock valued at $5,663,000 after purchasing an additional 59,906 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Barrick Mining in the fourth quarter valued at $19,505,000. Institutional investors and hedge funds own 90.82% of the company's stock.

Barrick Mining Stock Down 1.9%

Shares of B traded down $0.40 during trading on Wednesday, reaching $21.10. The company's stock had a trading volume of 11,741,081 shares, compared to its average volume of 9,472,506. The company has a fifty day moving average of $20.66 and a two-hundred day moving average of $19.06. Barrick Mining Corporation has a twelve month low of $15.11 and a twelve month high of $21.95. The company has a market cap of $36.00 billion, a price-to-earnings ratio of 15.86, a P/E/G ratio of 0.33 and a beta of 0.28. The company has a quick ratio of 2.16, a current ratio of 2.87 and a debt-to-equity ratio of 0.14.

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

Barrick Mining Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.40 annualized dividend and a dividend yield of 1.90%. Barrick Mining's dividend payout ratio (DPR) is presently 30.08%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on B. UBS Group raised their price objective on Barrick Mining from $22.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, April 11th. BMO Capital Markets began coverage on Barrick Mining in a report on Wednesday, April 16th. They set a "market perform" rating on the stock. Wall Street Zen upgraded Barrick Mining from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 5th. National Bankshares reissued an "outperform" rating on shares of Barrick Mining in a research report on Wednesday, April 2nd. Finally, Royal Bank Of Canada set a $26.00 price objective on Barrick Mining and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company 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.