Q3 Asset Management Sells 28,796 Shares of Barrick Mining Corporation $B

Key Points

• Q3 Asset Management reduced its stake by 27%, selling 28,796 Barrick shares in Q4 and leaving 78,000 shares worth $3.405 million (about 0.8% of the fund and its 20th largest holding).
• Barrick beat expectations and raised its dividend: Q4 EPS was $1.04 vs. $0.85 consensus with revenue of $5.98B (up 44.6% y/y), and the company boosted its quarterly dividend to $0.42 (annualized $1.68, ~3.9% yield).

Q3 Asset Management reduced its stake in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 27.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 78,000 shares of the gold and copper producer's stock after selling 28,796 shares during the quarter. Barrick Mining accounts for approximately 0.8% of Q3 Asset Management's portfolio, making the stock its 20th largest holding. Q3 Asset Management's holdings in Barrick Mining were worth $3,405,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Smith Salley Wealth Management bought a new position in shares of Barrick Mining during the fourth quarter valued at about $201,000. TD Waterhouse Canada Inc. grew its stake in shares of Barrick Mining by 103.5% during the fourth quarter. TD Waterhouse Canada Inc. now owns 923,397 shares of the gold and copper producer's stock valued at $40,193,000 after buying an additional 469,638 shares during the last quarter. Revisor Wealth Management LLC bought a new position in shares of Barrick Mining during the fourth quarter valued at about $368,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Barrick Mining by 2.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 597,044 shares of the gold and copper producer's stock valued at $26,042,000 after buying an additional 15,062 shares during the last quarter. Finally, Krilogy Financial LLC bought a new position in shares of Barrick Mining during the fourth quarter valued at about $176,000. 90.82% of the stock is owned by institutional investors.

Barrick Mining Stock Performance

Shares of B opened at $43.29 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 2.33. Barrick Mining Corporation has a one year low of $17.41 and a one year high of $54.69. The company has a 50-day simple moving average of $44.12 and a two-hundred day simple moving average of $41.99. The firm has a market capitalization of $72.53 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last issued its quarterly earnings data 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 net margin of 29.45% and a return on equity of 12.10%. The business had revenue of $5.98 billion during the quarter, compared to analyst estimates of $5.15 billion. Barrick Mining's revenue for the quarter was up 44.6% compared to the same quarter last year. On average, analysts anticipate that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Friday, February 27th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.9%. This is a boost from Barrick Mining's previous quarterly dividend of $0.18. The ex-dividend date was Friday, February 27th. Barrick Mining's dividend payout ratio (DPR) is 57.34%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on B shares. Canaccord Genuity Group reduced their price objective on Barrick Mining to $77.00 and set a "buy" rating on the stock in a research note on Wednesday, February 18th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Barrick Mining in a research note on Friday, March 27th. Citigroup increased their target price on shares of Barrick Mining from $38.00 to $48.00 and gave the stock a "neutral" rating in a report on Monday, February 9th. Zacks Research lowered shares of Barrick Mining from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 13th. Finally, Scotiabank increased their target price on shares of Barrick Mining from $43.00 to $63.00 and gave the stock an "outperform" rating in a report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Barrick Mining currently has a consensus rating of "Moderate Buy" and a consensus target price of $54.83.

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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