Sumitomo Mitsui Trust Group Inc. Sells 18,454 Shares of Barrick Mining Corporation (NYSE:B)

Sumitomo Mitsui Trust Group Inc. decreased its holdings in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 16.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,324 shares of the gold and copper producer's stock after selling 18,454 shares during the period. Sumitomo Mitsui Trust Group Inc.'s holdings in Barrick Mining were worth $1,834,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its stake in Barrick Mining by 2.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,038,059 shares of the gold and copper producer's stock valued at $20,408,000 after acquiring an additional 25,740 shares in the last quarter. Achmea Investment Management B.V. lifted its position in Barrick Mining by 45.5% during the first quarter. Achmea Investment Management B.V. now owns 825,528 shares of the gold and copper producer's stock valued at $16,026,000 after purchasing an additional 258,044 shares during the last quarter. Hedges Asset Management LLC lifted its position in Barrick Mining by 5.2% during the first quarter. Hedges Asset Management LLC now owns 50,800 shares of the gold and copper producer's stock valued at $988,000 after purchasing an additional 2,500 shares during the last quarter. Balefire LLC lifted its position in Barrick Mining by 35.1% during the first quarter. Balefire LLC now owns 18,984 shares of the gold and copper producer's stock valued at $369,000 after purchasing an additional 4,933 shares during the last quarter. Finally, Haven Global Partners LLC bought a new stake in Barrick Mining during the first quarter valued at approximately $1,930,000. Hedge funds and other institutional investors own 90.82% of the company's stock.

Wall Street Analyst Weigh In

B has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Barrick Mining from a "buy" rating to a "strong-buy" rating in a report on Saturday. BMO Capital Markets initiated coverage on shares of Barrick Mining in a report on Wednesday, April 16th. They issued a "market perform" rating for the company. National Bankshares reiterated an "outperform" rating on shares of Barrick Mining in a report on Wednesday, April 2nd. National Bank Financial upgraded shares of Barrick Mining to a "hold" rating in a report on Friday, March 21st. Finally, Scotiabank upped their price target on shares of Barrick Mining from $20.00 to $22.00 and gave the company a "sector perform" rating in a report on Monday, April 14th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $24.05.

Barrick Mining Stock Performance

Shares of B traded up $0.15 on Monday, reaching $21.61. The company's stock had a trading volume of 9,899,713 shares, compared to its average volume of 3,871,814. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.87 and a quick ratio of 2.16. The stock has a market capitalization of $37.05 billion, a P/E ratio of 16.25, a PEG ratio of 0.34 and a beta of 0.28. The stock's 50 day simple moving average is $19.79 and its two-hundred day simple moving average is $18.46. Barrick Mining Corporation has a 12-month low of $17.41 and a 12-month high of $47.50.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released its earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.06. Barrick Mining had a net margin of 17.46% and a return on equity of 7.51%. The company had revenue of $3 billion for the quarter, compared to analysts' expectations of $3.15 billion. During the same quarter last year, the business earned $0.19 EPS. The firm's revenue was up 13.9% compared to the same quarter last year. Research analysts forecast that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.85%. The ex-dividend date was Friday, May 30th. Barrick Mining's payout ratio is currently 30.08%.

Barrick Mining Company Profile

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.   In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.