Russell Investments Group Ltd. Sells 329,695 Shares of Barrick Mining Corporation $B

Key Points

• Russell Investments Group Ltd. reduced its stake in Barrick Mining by 8.2% in the fourth quarter, selling 329,695 shares and leaving it with 3,686,921 shares valued at about $160.8 million.
• Barrick Mining reported strong quarterly earnings of $0.98 per share, beating analyst estimates, though revenue of $4.11 billion came in below expectations.
• The company recently paid a quarterly dividend of $0.175 per share and maintains a modest payout ratio of 19.34%, while analysts currently rate the stock a consensus Moderate Buy with a $53.46 price target.

Russell Investments Group Ltd. cut its holdings in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 8.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,686,921 shares of the gold and copper producer's stock after selling 329,695 shares during the quarter. Russell Investments Group Ltd. owned about 0.22% of Barrick Mining worth $160,776,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in B. Bogart Wealth LLC boosted its position in Barrick Mining by 3.5% during the fourth quarter. Bogart Wealth LLC now owns 6,442 shares of the gold and copper producer's stock worth $281,000 after purchasing an additional 218 shares during the period. Parvin Asset Management LLC raised its position in shares of Barrick Mining by 0.7% in the fourth quarter. Parvin Asset Management LLC now owns 33,385 shares of the gold and copper producer's stock valued at $1,454,000 after purchasing an additional 225 shares during the period. Mmbg Investment Advisors CO. raised its position in shares of Barrick Mining by 0.6% in the fourth quarter. Mmbg Investment Advisors CO. now owns 43,454 shares of the gold and copper producer's stock valued at $1,892,000 after purchasing an additional 254 shares during the period. S.A. Mason LLC lifted its stake in shares of Barrick Mining by 1.3% during the 4th quarter. S.A. Mason LLC now owns 23,114 shares of the gold and copper producer's stock worth $1,007,000 after buying an additional 300 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its stake in shares of Barrick Mining by 1.0% during the 4th quarter. Sequoia Financial Advisors LLC now owns 31,212 shares of the gold and copper producer's stock worth $1,359,000 after buying an additional 302 shares during the last quarter. Institutional investors own 90.82% of the company's stock.

Barrick Mining Trading Up 2.4%

B stock opened at $42.84 on Wednesday. Barrick Mining Corporation has a 52 week low of $20.35 and a 52 week high of $54.69. The company has a market capitalization of $71.27 billion, a PE ratio of 11.84, a price-to-earnings-growth ratio of 1.19 and a beta of 0.44. The company's 50-day simple moving average is $41.54 and its 200 day simple moving average is $43.91. 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 (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, topping the consensus estimate of $0.80 by $0.18. The business had revenue of $4.11 billion during the quarter, compared to analysts' expectations of $4.75 billion. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. The company's revenue for the quarter was up 66.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Barrick Mining Corporation will post 3.78 earnings per share for the current year.

Barrick Mining Cuts Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.70 annualized dividend and a dividend yield of 1.6%. Barrick Mining's dividend payout ratio (DPR) is currently 19.34%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Canaccord Genuity Group decreased their price target on shares of Barrick Mining to $77.00 and set a "buy" rating on the stock in a research note on Wednesday, February 18th. Canadian Imperial Bank of Commerce cut their price objective on shares of Barrick Mining to $63.00 and set an "outperformer" rating for the company in a research report on Tuesday, April 21st. Barclays started coverage on Barrick Mining in a report on Thursday, May 21st. They set an "equal weight" rating and a $41.00 price objective for the company. Weiss Ratings lowered Barrick Mining from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, May 11th. Finally, ATB Cormark Capital Markets cut Barrick Mining from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $53.46.

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.

Want to see what other hedge funds are holding B? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX.

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.