Barrick Mining Corporation (NYSE:B) Position Trimmed by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 16.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in B. Charles Schwab Investment Management Inc. increased its position in shares of Barrick Mining by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,073,717 shares of the gold and copper producer's stock valued at $78,637,000 after acquiring an additional 128,203 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of Barrick Mining by 66.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 60,620 shares of the gold and copper producer's stock valued at $940,000 after acquiring an additional 24,176 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Barrick Mining by 14.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 73,636 shares of the gold and copper producer's stock valued at $1,141,000 after acquiring an additional 9,149 shares during the period. Sequoia Financial Advisors LLC raised its position in Barrick Mining by 24.4% during the first quarter. Sequoia Financial Advisors LLC now owns 20,795 shares of the gold and copper producer's stock valued at $404,000 after purchasing an additional 4,082 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in shares of Barrick Mining by 25.9% during the first quarter. Janney Montgomery Scott LLC now owns 291,281 shares of the gold and copper producer's stock worth $5,663,000 after buying an additional 59,906 shares in the last quarter. 90.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Scotiabank raised their price target on shares of Barrick Mining from $20.00 to $22.00 and gave the company a "sector perform" rating in a research report on Monday, April 14th. National Bank Financial upgraded shares of Barrick Mining to a "hold" rating in a research note on Friday, March 21st. Citigroup reduced their price objective on shares of Barrick Mining from $21.00 to $17.00 and set a "neutral" rating for the company in a research note on Monday, March 31st. National Bankshares reissued an "outperform" rating on shares of Barrick Mining in a report on Wednesday, April 2nd. Finally, Stifel Canada raised shares of Barrick Mining to a "strong-buy" rating in a report on Wednesday, March 19th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.05.

Barrick Mining Price Performance

Shares of NYSE B traded up $0.23 during trading on Friday, hitting $21.45. 7,362,036 shares of the company were exchanged, compared to its average volume of 3,837,706. The company has a market cap of $36.76 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 0.34 and a beta of 0.28. Barrick Mining Corporation has a 1 year low of $17.41 and a 1 year high of $47.50. The firm's fifty day moving average price is $19.74 and its 200 day moving average price is $18.40. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.87 and a quick ratio of 2.16.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released its quarterly earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period last year, the company earned $0.19 EPS. The firm's revenue for the quarter was up 13.9% compared to the same quarter last year. On average, sell-side analysts expect that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend was Friday, May 30th. Barrick Mining's dividend payout ratio (DPR) is presently 30.08%.

Barrick Mining 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.