Intact Investment Management Inc. Decreases Stock Position in Barrick Mining Corporation $B

Key Points

• Intact Investment Management decreased its position in Barrick by 16.7%, selling 410,170 shares and now holds 2,048,320 shares valued at about $89.22 million, representing roughly 2.6% of Intact’s portfolio and its fifth-largest holding.
• Barrick beat quarterly expectations, reporting EPS of $1.04 versus $0.85 and revenue of $5.98 billion (up 44.6% year-over-year), and the company raised its quarterly dividend to $0.42 (annualized $1.68) for a ~4.3% yield.
• Analyst sentiment is positive with a MarketBeat consensus of “Moderate Buy” and a $54.17 price target; institutional investors own about 90.82% of the stock and Barrick has a market cap near $65 billion (P/E ~13.2).

Intact Investment Management Inc. decreased its position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 16.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,048,320 shares of the gold and copper producer's stock after selling 410,170 shares during the period. Barrick Mining accounts for about 2.6% of Intact Investment Management Inc.'s investment portfolio, making the stock its 5th largest position. Intact Investment Management Inc. owned about 0.12% of Barrick Mining worth $89,224,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in B. CW Advisors LLC bought a new stake in shares of Barrick Mining during the second quarter valued at approximately $283,000. EverSource Wealth Advisors LLC bought a new stake in shares of Barrick Mining during the second quarter valued at approximately $53,000. First Trust Advisors LP bought a new stake in shares of Barrick Mining during the second quarter valued at approximately $857,000. Baird Financial Group Inc. bought a new stake in shares of Barrick Mining during the second quarter valued at approximately $2,569,000. Finally, Cresset Asset Management LLC bought a new stake in shares of Barrick Mining during the second quarter valued at approximately $543,000. Institutional investors own 90.82% of the company's stock.

Barrick Mining Trading Down 0.1%

B stock opened at $38.79 on Monday. The firm has a fifty day moving average price of $42.85 and a 200 day moving average price of $42.43. Barrick Mining Corporation has a fifty-two week low of $17.41 and a fifty-two week high of $54.69. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.33 and a current ratio of 2.92. The firm has a market cap of $64.99 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 1.16 and a beta of 0.41.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.85 by $0.19. Barrick Mining had a net margin of 29.45% and a return on equity of 12.10%. The firm had revenue of $5.98 billion during the quarter, compared to analyst estimates of $5.15 billion. The firm's revenue for the quarter was up 44.6% on a year-over-year basis. Sell-side analysts anticipate that Barrick Mining Corporation will post 3.56 earnings per share for the current fiscal year.

Barrick Mining Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Friday, February 27th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.3%. This is a boost from Barrick Mining's previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, February 27th. Barrick Mining's payout ratio is 57.34%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of Barrick Mining from $38.00 to $48.00 and gave the company a "neutral" rating in a research report on Monday, February 9th. Weiss Ratings reiterated a "buy (b)" rating on shares of Barrick Mining in a research report on Friday, March 27th. Zacks Research cut shares of Barrick Mining from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 13th. UBS Group reduced their price objective on shares of Barrick Mining from $55.00 to $50.00 and set a "buy" rating on the stock in a research report on Friday, March 27th. Finally, Scotiabank lifted their price objective on shares of Barrick Mining from $43.00 to $63.00 and gave the company an "outperform" rating in a research report on Monday, January 26th. 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.17.

Barrick Mining Profile

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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