Russell Investments Group Ltd. Sells 356,422 Shares of Barrick Mining Corporation $B

Russell Investments Group Ltd. cut its stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 8.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,016,616 shares of the gold and copper producer’s stock after selling 356,422 shares during the quarter. Russell Investments Group Ltd.’s holdings in Barrick Mining were worth $131,779,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of B. Vanguard Group Inc. purchased a new stake in Barrick Mining in the 2nd quarter valued at $1,459,633,000. Measured Wealth Private Client Group LLC bought a new position in Barrick Mining during the 2nd quarter valued at $696,000. Philadelphia Trust Co. purchased a new position in Barrick Mining during the 2nd quarter worth $1,412,000. CIBC Asset Management Inc boosted its holdings in Barrick Mining by 316.0% during the 3rd quarter. CIBC Asset Management Inc now owns 18,287,558 shares of the gold and copper producer’s stock worth $601,115,000 after acquiring an additional 13,891,886 shares during the last quarter. Finally, Cadence Wealth Management LLC bought a new stake in shares of Barrick Mining in the 2nd quarter worth $1,112,000. Institutional investors own 90.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on B shares. DZ Bank upgraded shares of Barrick Mining to a “strong-buy” rating in a report on Monday, January 19th. Scotiabank boosted their price target on shares of Barrick Mining from $43.00 to $63.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. UBS Group set a $55.00 price objective on shares of Barrick Mining in a research report on Friday, February 6th. TD Cowen reissued a “buy” rating on shares of Barrick Mining in a research report on Wednesday, November 26th. Finally, Bank of America upgraded Barrick Mining from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $38.00 to $48.00 in a research note on Monday, November 24th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.25.

Barrick Mining Price Performance

B opened at $45.86 on Tuesday. Barrick Mining Corporation has a fifty-two week low of $17.00 and a fifty-two week high of $54.69. The firm has a 50-day moving average of $47.90 and a 200 day moving average of $39.61. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.33 and a current ratio of 2.92. The firm has a market cap of $76.82 billion, a P/E ratio of 15.65, a PEG ratio of 1.42 and a beta of 0.41.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings data on Thursday, February 5th. The gold and copper producer reported $1.04 EPS for the quarter, topping the consensus estimate of $0.85 by $0.19. The business had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.15 billion. Barrick Mining had a net margin of 29.45% and a return on equity of 12.10%. The business’s quarterly revenue was up 44.6% on a year-over-year basis. On average, research analysts expect that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be issued a $0.42 dividend. This is a boost from Barrick Mining’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.7%. Barrick Mining’s payout ratio is presently 57.34%.

Barrick Mining 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.