Victory Capital Management Inc. Sells 159,552 Shares of Barrick Mining Corporation (NYSE:B)

Victory Capital Management Inc. cut its holdings in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 5.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,673,289 shares of the gold and copper producer's stock after selling 159,552 shares during the quarter. Victory Capital Management Inc. owned about 0.16% of Barrick Mining worth $51,969,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of B. Vanguard Group Inc. increased its position in Barrick Mining by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 68,358,533 shares of the gold and copper producer's stock worth $1,060,036,000 after buying an additional 1,195,585 shares during the period. Wellington Management Group LLP grew its stake in shares of Barrick Mining by 17.5% in the 4th quarter. Wellington Management Group LLP now owns 64,310,800 shares of the gold and copper producer's stock valued at $996,802,000 after purchasing an additional 9,598,292 shares during the last quarter. Capital International Investors grew its stake in shares of Barrick Mining by 136.1% in the 4th quarter. Capital International Investors now owns 33,293,792 shares of the gold and copper producer's stock valued at $516,055,000 after purchasing an additional 19,189,830 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of Barrick Mining by 1.9% in the 4th quarter. Mackenzie Financial Corp now owns 15,318,376 shares of the gold and copper producer's stock valued at $237,280,000 after purchasing an additional 278,292 shares during the last quarter. Finally, Causeway Capital Management LLC purchased a new stake in shares of Barrick Mining in the fourth quarter valued at approximately $172,225,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on B shares. CIBC boosted their price target on Barrick Mining from $24.00 to $28.00 and gave the stock a "neutral" rating in a report on Tuesday. Royal Bank Of Canada set a $26.00 price objective on Barrick Mining and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Citigroup decreased their price target on Barrick Mining from $21.00 to $17.00 and set a "neutral" rating for the company in a research note on Monday, March 31st. Scotiabank raised their price objective on Barrick Mining from $20.00 to $22.00 and gave the stock a "sector perform" rating in a research note on Monday, April 14th. Finally, Raymond James Financial raised their target price on Barrick Mining from $23.00 to $23.50 and gave the stock an "outperform" rating in a research report on Monday, March 31st. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.41.

Barrick Mining Trading Down 0.4%

Shares of B traded down $0.09 during trading hours on Friday, reaching $20.72. The stock had a trading volume of 7,257,568 shares, compared to its average volume of 4,374,015. The company has a quick ratio of 2.16, a current ratio of 2.87 and a debt-to-equity ratio of 0.14. Barrick Mining Corporation has a 52 week low of $17.41 and a 52 week high of $47.50. The firm has a 50-day moving average of $20.17 and a 200 day moving average of $18.76. The company has a market cap of $35.35 billion, a P/E ratio of 15.58, a P/E/G ratio of 0.33 and a beta of 0.28.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released its quarterly earnings data on Wednesday, May 7th. The gold and copper producer reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.06. The business had revenue of $3 billion during the quarter, compared to analysts' expectations of $3.15 billion. Barrick Mining had a net margin of 17.46% and a return on equity of 7.51%. The firm's quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 EPS. 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 business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were given a dividend of $0.10 per share. The ex-dividend date was Friday, May 30th. This represents a $0.40 annualized dividend and a yield of 1.93%. Barrick Mining's dividend payout ratio (DPR) is presently 30.08%.

About Barrick Mining

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.