Ninety One UK Ltd Trims Stake in Barrick Mining Corporation $B

Key Points

• Ninety One UK Ltd trimmed its stake in Barrick by 3.3%, selling 455,836 shares and left with 13,351,515 shares (about 0.80% of Barrick, ~$581.5M); Barrick comprises roughly 1.2% of Ninety One’s holdings and institutional ownership stands at ~90.82%.
• Barrick beat quarterly expectations with EPS of $1.04 vs. $0.85 and revenue of $5.98B (vs. $5.15B), saw revenue rise 44.6% YoY, and raised its quarterly dividend to $0.42 (annualized $1.68, ~3.9% yield).
• Wall Street’s consensus is a “Moderate Buy” with an average price target of $54.83 (1 Strong Buy, 16 Buy, 4 Hold), though several brokers recently adjusted their targets.

Ninety One UK Ltd trimmed its holdings in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 3.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,351,515 shares of the gold and copper producer's stock after selling 455,836 shares during the quarter. Barrick Mining comprises about 1.2% of Ninety One UK Ltd's holdings, making the stock its 23rd largest position. Ninety One UK Ltd owned 0.80% of Barrick Mining worth $581,458,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in B. Financial Consulate Inc. grew its position in Barrick Mining by 1,042.0% during the fourth quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer's stock worth $25,000 after buying an additional 521 shares in the last quarter. Westside Investment Management Inc. bought a new stake in Barrick Mining during the fourth quarter worth about $25,000. Arlington Trust Co LLC bought a new stake in Barrick Mining during the third quarter worth about $26,000. JPL Wealth Management LLC bought a new stake in Barrick Mining during the third quarter worth about $28,000. Finally, Pin Oak Investment Advisors Inc. bought a new stake in Barrick Mining during the third quarter worth about $31,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on B. Wall Street Zen raised Barrick Mining from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 7th. UBS Group dropped their price target on Barrick Mining from $55.00 to $50.00 and set a "buy" rating for the company in a research note on Friday, March 27th. Canaccord Genuity Group dropped their price target on Barrick Mining to $77.00 and set a "buy" rating for the company in a research note on Wednesday, February 18th. Citigroup lifted their price target on Barrick Mining from $38.00 to $48.00 and gave the stock a "neutral" rating in a research note on Monday, February 9th. Finally, ATB Cormark Capital Markets lowered Barrick Mining from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Barrick Mining presently has an average rating of "Moderate Buy" and an average price target of $54.83.

Barrick Mining Trading Up 2.1%

NYSE B opened at $43.29 on Friday. Barrick Mining Corporation has a 1-year low of $17.41 and a 1-year high of $54.69. The company has a current ratio of 2.92, a quick ratio of 2.33 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average of $44.12 and a 200-day moving average of $41.87. The firm has a market cap of $72.53 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 1.58 and a beta of 0.50.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released 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 return on equity of 12.10% and a net margin of 29.45%.The company had revenue of $5.98 billion during the quarter, compared to analyst estimates of $5.15 billion. The company's revenue for the quarter was up 44.6% on a year-over-year basis. As a group, sell-side analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 27th were paid a $0.42 dividend. 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. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.9%. Barrick Mining's dividend payout ratio is presently 57.34%.

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.

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.