Sei Investments Co. Cuts Stock Position in Barrick Mining Corporation $B

Key Points

• Sei Investments reduced its Barrick Mining stake by 17.6% in the first quarter, selling 63,284 shares and retaining 296,137 shares valued at approximately $12.1 million. Institutional investors collectively own 90.82% of the company.
• Barrick reported quarterly EPS of $0.98, exceeding estimates of $0.80, while revenue rose 66.7% year over year to $4.11 billion, below analysts’ $4.75 billion expectation.
• The stock opened at $36.73, and analysts maintain a “Moderate Buy” consensus with an average price target of $52.46. Barrick’s quarterly dividend is $0.175 per share, equivalent to a 1.9% annual yield.

Sei Investments Co. cut its stake in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 17.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 296,137 shares of the gold and copper producer's stock after selling 63,284 shares during the period. Sei Investments Co.'s holdings in Barrick Mining were worth $12,080,000 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. Caldwell Trust Co boosted its holdings in Barrick Mining by 6,688.3% in the 4th quarter. Caldwell Trust Co now owns 20,365 shares of the gold and copper producer's stock worth $887,000 after buying an additional 20,065 shares during the last quarter. Williamson Legacy Group LLC purchased a new stake in Barrick Mining during the 4th quarter worth approximately $1,315,000. Great Diamond Partners LLC acquired a new position in shares of Barrick Mining during the fourth quarter valued at approximately $2,393,000. Drummond Knight Asset Management Pty Ltd raised its holdings in shares of Barrick Mining by 14.9% during the fourth quarter. Drummond Knight Asset Management Pty Ltd now owns 1,384,920 shares of the gold and copper producer's stock valued at $60,313,000 after acquiring an additional 179,920 shares during the last quarter. Finally, Buffalo Business & Estate Services Ltd. purchased a new position in shares of Barrick Mining in the fourth quarter valued at approximately $2,702,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Mining Price Performance

B stock opened at $36.73 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.06 and a quick ratio of 2.44. The business has a 50 day simple moving average of $38.49 and a 200-day simple moving average of $42.40. The firm has a market capitalization of $61.09 billion, a PE ratio of 10.15, a price-to-earnings-growth ratio of 0.80 and a beta of 0.48. Barrick Mining Corporation has a 1 year low of $20.94 and a 1 year high of $54.69.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its quarterly earnings results on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, beating the consensus estimate 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 analysts' expectations of $4.75 billion. The business's quarterly revenue was up 66.7% on a year-over-year basis. Equities research analysts anticipate that Barrick Mining Corporation will post 3.57 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were paid a $0.175 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.9%. Barrick Mining's dividend payout ratio (DPR) is 19.34%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on B shares. Barclays lowered their price target on Barrick Mining from $41.00 to $39.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 15th. Scotiabank decreased their price objective on Barrick Mining from $63.00 to $57.00 and set a "sector outperform" rating on the stock in a report on Tuesday, July 14th. Wall Street Zen lowered Barrick Mining from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 25th. Royal Bank Of Canada dropped their target price on shares of Barrick Mining from $51.00 to $49.00 and set an "outperform" rating for the company in a report on Thursday, July 9th. Finally, Canadian Imperial Bank of Commerce reduced their target price on shares of Barrick Mining to $63.00 and set an "outperformer" rating for the company in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Barrick Mining presently 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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