Regal Partners Ltd Decreases Stake in Barrick Mining Corporation $B

Key Points

• Regal Partners cut its Barrick Mining stake by 45.3% in the first quarter, selling 377,722 shares and retaining 455,557 shares valued at approximately $18.6 million. Institutional investors still own 90.82% of the company.
• Barrick reported quarterly EPS of $0.98, exceeding analysts’ $0.80 estimate, while revenue rose 66.7% year over year to $4.11 billion but fell short of the $4.75 billion consensus.
• Shares opened at $36.78, and analysts maintain a consensus “Moderate Buy” rating with a $52.46 price target. The company pays a quarterly dividend of $0.175, equivalent to a 1.9% annual yield.

Regal Partners Ltd lowered its position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 45.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 455,557 shares of the gold and copper producer's stock after selling 377,722 shares during the quarter. Barrick Mining accounts for approximately 1.0% of Regal Partners Ltd's investment portfolio, making the stock its 23rd biggest holding. Regal Partners Ltd's holdings in Barrick Mining were worth $18,582,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Van ECK Associates Corp increased its position in shares of Barrick Mining by 22.8% during the fourth quarter. Van ECK Associates Corp now owns 55,423,240 shares of the gold and copper producer's stock valued at $2,413,699,000 after acquiring an additional 10,287,544 shares during the last quarter. FIL Ltd lifted its holdings in Barrick Mining by 85.3% during the fourth quarter. FIL Ltd now owns 30,099,422 shares of the gold and copper producer's stock worth $1,311,169,000 after acquiring an additional 13,853,587 shares during the period. Mackenzie Financial Corp boosted its position in Barrick Mining by 61.9% in the fourth quarter. Mackenzie Financial Corp now owns 20,591,745 shares of the gold and copper producer's stock worth $909,104,000 after purchasing an additional 7,870,411 shares during the last quarter. TD Asset Management Inc grew its stake in Barrick Mining by 5.6% in the 4th quarter. TD Asset Management Inc now owns 20,395,667 shares of the gold and copper producer's stock valued at $889,627,000 after purchasing an additional 1,086,332 shares during the period. Finally, CIBC Asset Management Inc grew its stake in Barrick Mining by 8.8% in the 4th quarter. CIBC Asset Management Inc now owns 19,902,944 shares of the gold and copper producer's stock valued at $869,964,000 after purchasing an additional 1,615,386 shares during the period. Hedge funds and other institutional investors own 90.82% of the company's stock.

Barrick Mining Price Performance

Shares of NYSE B opened at $36.78 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.44 and a current ratio of 3.06. Barrick Mining Corporation has a fifty-two week low of $20.94 and a fifty-two week high of $54.69. The stock has a market cap of $61.18 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 0.79 and a beta of 0.48. The stock has a fifty day moving average of $38.74 and a 200-day moving average of $42.59.

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 (EPS) for the quarter, topping 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 business had revenue of $4.11 billion for the quarter, compared to analysts' expectations of $4.75 billion. The company's revenue for the quarter was up 66.7% compared to the same quarter last year. Equities research analysts anticipate that Barrick Mining Corporation will post 3.57 earnings per share for the current year.

Barrick Mining Cuts Dividend

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

Analysts Set New Price Targets

B has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their target price on Barrick Mining from $58.00 to $50.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 21st. Canadian Imperial Bank of Commerce reduced their price target on shares of Barrick Mining to $63.00 and set an "outperformer" rating for the company in a research report on Tuesday, April 21st. Wall Street Zen lowered shares of Barrick Mining from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Citigroup reiterated a "positive" rating on shares of Barrick Mining in a research note on Wednesday, July 15th. Finally, Weiss Ratings lowered shares of Barrick Mining from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $52.46.

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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