Oaktree Capital Management LP Lowers Stock Position in Barrick Mining Corporation $B

Oaktree Capital Management LP cut its stake in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 11.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,624,859 shares of the gold and copper producer's stock after selling 350,259 shares during the quarter. Barrick Mining makes up approximately 1.3% of Oaktree Capital Management LP's holdings, making the stock its 12th biggest position. Oaktree Capital Management LP owned about 0.16% of Barrick Mining worth $107,068,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bull Harbor Capital LLC bought a new position in shares of Barrick Mining in the first quarter worth approximately $286,000. Arkadios Wealth Advisors raised its position in shares of Barrick Mining by 7.7% during the 1st quarter. Arkadios Wealth Advisors now owns 8,061 shares of the gold and copper producer's stock valued at $329,000 after purchasing an additional 575 shares during the period. Parvin Asset Management LLC lifted its stake in shares of Barrick Mining by 4.5% during the 1st quarter. Parvin Asset Management LLC now owns 34,885 shares of the gold and copper producer's stock valued at $1,423,000 after buying an additional 1,500 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Barrick Mining by 85.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 8,021 shares of the gold and copper producer's stock worth $327,000 after buying an additional 3,691 shares during the period. Finally, Riposte Capital LLC bought a new position in Barrick Mining in the 1st quarter worth $14,276,000. Institutional investors own 90.82% of the company's stock.

Wall Street Analyst Weigh In

B has been the topic of a number of recent analyst reports. Wall Street Zen cut Barrick Mining from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 25th. UBS Group cut their target price on Barrick Mining from $54.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday, June 30th. Royal Bank Of Canada decreased their target price on Barrick Mining from $51.00 to $49.00 and set an "outperform" rating on the stock in a research note on Thursday, July 9th. JPMorgan Chase & Co. lowered their price target on Barrick Mining from $58.00 to $50.00 and set an "overweight" rating on the stock in a report on Tuesday, July 21st. Finally, Canadian Imperial Bank of Commerce dropped their price target on Barrick Mining to $63.00 and set an "outperformer" rating for the company in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Barrick Mining presently has an average rating of "Moderate Buy" and an average price target of $52.46.

Barrick Mining Stock Down 1.1%

Shares of B stock opened at $36.30 on Thursday. The company's fifty day simple moving average is $38.65 and its two-hundred day simple moving average is $42.51. Barrick Mining Corporation has a 52 week low of $20.94 and a 52 week high of $54.69. The stock has a market cap of $60.39 billion, a P/E ratio of 10.03, a PEG ratio of 0.78 and a beta of 0.48. The company has a quick ratio of 2.44, a current ratio of 3.06 and a debt-to-equity ratio of 0.13.

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 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.18. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.75 billion. The business's revenue was up 66.7% on a year-over-year basis. Analysts predict that Barrick Mining Corporation will post 3.57 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, May 29th. Barrick Mining's dividend payout ratio is 19.34%.

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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