Freemont Management S.A. Reduces Position in Barrick Mining Corporation $B

Freemont Management S.A. decreased its holdings in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 53.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 106,600 shares of the gold and copper producer’s stock after selling 124,100 shares during the period. Barrick Mining accounts for 1.8% of Freemont Management S.A.’s portfolio, making the stock its 15th largest position. Freemont Management S.A.’s holdings in Barrick Mining were worth $3,493,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. purchased a new position in Barrick Mining during the 2nd quarter valued at $1,459,633,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Barrick Mining during the second quarter valued at $1,091,122,000. First Eagle Investment Management LLC purchased a new stake in shares of Barrick Mining during the second quarter valued at $822,056,000. CIBC Asset Management Inc grew its holdings in shares of Barrick Mining by 316.0% in the third quarter. CIBC Asset Management Inc now owns 18,287,558 shares of the gold and copper producer’s stock worth $601,115,000 after purchasing an additional 13,891,886 shares during the last quarter. Finally, Geode Capital Management LLC purchased a new position in Barrick Mining in the 2nd quarter worth about $307,855,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

B has been the subject of several research reports. Royal Bank Of Canada boosted their price objective on shares of Barrick Mining from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. UBS Group set a $55.00 price target on Barrick Mining in a report on Friday, February 6th. Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $71.00 price objective on shares of Barrick Mining in a research note on Wednesday, February 4th. Wall Street Zen raised Barrick Mining from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 7th. Finally, TD Cowen reiterated a “buy” rating on shares of Barrick Mining in a report on Wednesday, November 26th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $53.58.

Barrick Mining Stock Performance

Shares of B stock opened at $45.42 on Friday. The firm has a market cap of $76.10 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 0.38 and a beta of 0.40. Barrick Mining Corporation has a 52-week low of $17.00 and a 52-week high of $54.69. The company has a quick ratio of 2.33, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average is $46.36 and its 200 day moving average is $36.42.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.19. Barrick Mining had a return on equity of 12.10% and a net margin of 29.45%.The business had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $5.15 billion. The business’s revenue for the quarter was up 44.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.7%. This is a boost from Barrick Mining’s previous quarterly dividend of $0.18. The ex-dividend date is Friday, February 27th. Barrick Mining’s payout ratio is presently 23.89%.

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.