Euro Pacific Asset Management LLC Sells 81,150 Shares of Barrick Mining Corporation $B

Key Points

• Euro Pacific Asset Management trimmed its Barrick Mining stake by 4.6% in Q1, selling 81,150 shares and leaving it with 1,665,226 shares worth about $67.9 million.
• Barrick Mining reported Q1 EPS of $0.98, beating analyst expectations, but revenue of $4.11 billion came in below estimates even as it rose 66.7% year over year.
• The company also cut its quarterly dividend to $0.175 per share, while analysts currently rate the stock a “Moderate Buy” with an average target price of $53.85.

Euro Pacific Asset Management LLC reduced its stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 4.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,665,226 shares of the gold and copper producer's stock after selling 81,150 shares during the quarter. Barrick Mining makes up approximately 6.5% of Euro Pacific Asset Management LLC's investment portfolio, making the stock its 2nd largest position. Euro Pacific Asset Management LLC owned about 0.10% of Barrick Mining worth $67,925,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Bogart Wealth LLC boosted its position in shares of Barrick Mining by 3.5% during the 4th quarter. Bogart Wealth LLC now owns 6,442 shares of the gold and copper producer's stock valued at $281,000 after acquiring an additional 218 shares during the last quarter. Parvin Asset Management LLC increased its position in Barrick Mining by 0.7% during the fourth quarter. Parvin Asset Management LLC now owns 33,385 shares of the gold and copper producer's stock worth $1,454,000 after purchasing an additional 225 shares during the last quarter. Silver Oak Securities Incorporated raised its stake in Barrick Mining by 2.9% during the first quarter. Silver Oak Securities Incorporated now owns 8,810 shares of the gold and copper producer's stock worth $359,000 after purchasing an additional 246 shares during the period. Mmbg Investment Advisors CO. raised its stake in Barrick Mining by 0.6% during the fourth quarter. Mmbg Investment Advisors CO. now owns 43,454 shares of the gold and copper producer's stock worth $1,892,000 after purchasing an additional 254 shares during the period. Finally, S.A. Mason LLC boosted its holdings in Barrick Mining by 1.3% in the 4th quarter. S.A. Mason LLC now owns 23,114 shares of the gold and copper producer's stock valued at $1,007,000 after purchasing an additional 300 shares during the last quarter. 90.82% of the stock is owned by institutional investors and hedge funds.

Barrick Mining Price Performance

Shares of B opened at $34.93 on Friday. Barrick Mining Corporation has a 1-year low of $20.68 and a 1-year high of $54.69. The stock has a market cap of $58.10 billion, a PE ratio of 9.65, a P/E/G ratio of 0.75 and a beta of 0.48. The firm has a 50-day simple moving average of $39.63 and a two-hundred day simple moving average of $43.01. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.06 and a quick ratio of 2.44.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last issued its quarterly earnings data on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, topping the consensus estimate of $0.80 by $0.18. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. The firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.75 billion. Barrick Mining's quarterly revenue was up 66.7% on a year-over-year basis. As a group, analysts forecast that Barrick Mining Corporation will post 3.63 EPS for the current year.

Barrick Mining Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were given a $0.175 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.70 dividend on an annualized basis and a yield of 2.0%. Barrick Mining's payout ratio is presently 19.34%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Barclays dropped their price target on shares of Barrick Mining from $41.00 to $39.00 and set an "equal weight" rating for the company in a research note on Wednesday. Scotiabank reduced their price target on shares of Barrick Mining from $63.00 to $57.00 and set a "sector outperform" rating on the stock in a research report on Tuesday. Weiss Ratings cut Barrick Mining from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, May 11th. Royal Bank Of Canada lowered their price objective on Barrick Mining from $51.00 to $49.00 and set an "outperform" rating for the company in a research report on Thursday, July 9th. Finally, Citigroup reissued a "positive" rating on shares of Barrick Mining in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Barrick Mining currently has an average rating of "Moderate Buy" and an average target price of $53.85.

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.

Want to see what other hedge funds are holding B? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.