Invenomic Capital Management LP Sells 79,901 Shares of Barrick Mining Corporation $B

Key Points

• Invenomic Capital Management cut its stake in Barrick by 29.1% in Q3, selling 79,901 shares and retaining 194,931 shares worth about $6.39 million.
• Barrick boosted its quarterly dividend from $0.18 to $0.42 (annualized $1.68), implying a 4.0% yield; the ex-dividend date is Feb 27 and the payment is scheduled for Mar 16.
• Positive fundamentals and analyst outlook: Barrick beat Q results ($1.04 EPS vs. $0.85 est., revenue +44.6% YoY), carries a consensus "Moderate Buy" and $55.25 price target while trading around $42.31.

Invenomic Capital Management LP lowered its stake in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 29.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 194,931 shares of the gold and copper producer's stock after selling 79,901 shares during the period. Invenomic Capital Management LP's holdings in Barrick Mining were worth $6,388,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Cary Street Partners Investment Advisory LLC raised its stake in shares of Barrick Mining by 19.8% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 2,260 shares of the gold and copper producer's stock valued at $74,000 after buying an additional 373 shares during the period. Brown Brothers Harriman & Co. raised its stake in Barrick Mining by 4.7% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 8,770 shares of the gold and copper producer's stock valued at $287,000 after acquiring an additional 391 shares during the period. Legend Financial Advisors Inc. lifted its holdings in Barrick Mining by 0.9% during the third quarter. Legend Financial Advisors Inc. now owns 45,139 shares of the gold and copper producer's stock valued at $1,479,000 after purchasing an additional 399 shares during the last quarter. Banque Transatlantique SA lifted its holdings in Barrick Mining by 4.2% during the third quarter. Banque Transatlantique SA now owns 9,950 shares of the gold and copper producer's stock valued at $326,000 after purchasing an additional 400 shares during the last quarter. Finally, Ascent Group LLC boosted its position in Barrick Mining by 2.9% during the third quarter. Ascent Group LLC now owns 14,514 shares of the gold and copper producer's stock worth $476,000 after purchasing an additional 404 shares during the period. Hedge funds and other institutional investors own 90.82% of the company's stock.

Wall Street Analysts Forecast Growth

B has been the subject of several analyst reports. TD Cowen reaffirmed a "buy" rating on shares of Barrick Mining in a report on Wednesday, November 26th. Canadian Imperial Bank of Commerce restated an "outperform" rating and set a $71.00 target price on shares of Barrick Mining in a research report on Wednesday, February 4th. ATB Cormark Capital Markets upgraded Barrick Mining to a "moderate buy" rating in a research report on Monday, February 9th. Raymond James Financial boosted their price objective on Barrick Mining from $40.00 to $42.00 and gave the company an "outperform" rating in a research note on Tuesday, November 25th. Finally, Citigroup raised their target price on Barrick Mining from $38.00 to $48.00 and gave the stock a "neutral" rating in a research note on Monday, February 9th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.25.

Barrick Mining Trading Down 4.9%

Shares of B stock opened at $42.31 on Monday. The company has a market capitalization of $70.88 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 1.32 and a beta of 0.41. Barrick Mining Corporation has a 52-week low of $17.00 and a 52-week high of $54.69. The business's fifty day moving average is $47.96 and its 200 day moving average is $40.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.33 and a current ratio of 2.92.

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 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 business had revenue of $5.98 billion during the quarter, compared to analysts' expectations of $5.15 billion. The firm's revenue was up 44.6% on a year-over-year basis. On average, equities research analysts anticipate that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, February 27th. This is a boost from Barrick Mining's previous quarterly dividend of $0.18. This represents a $1.68 annualized dividend and a yield of 4.0%. Barrick Mining's dividend payout ratio (DPR) is presently 57.34%.

Barrick Mining Company 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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