Van ECK Associates Corp Sells 19,934,190 Shares of Barrick Mining Corporation $B

Van ECK Associates Corp lessened its holdings in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 30.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,135,696 shares of the gold and copper producer’s stock after selling 19,934,190 shares during the period. Barrick Mining comprises 1.4% of Van ECK Associates Corp’s investment portfolio, making the stock its 17th biggest holding. Van ECK Associates Corp owned 2.67% of Barrick Mining worth $1,479,164,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Arlington Trust Co LLC bought a new position in Barrick Mining during the 3rd quarter valued at $26,000. Provenance Wealth Advisors LLC purchased a new position in shares of Barrick Mining in the 3rd quarter worth approximately $32,000. Investors Research Corp bought a new stake in Barrick Mining during the third quarter worth $36,000. Cloud Capital Management LLC bought a new position in Barrick Mining in the 3rd quarter valued at $40,000. Finally, Grove Bank & Trust purchased a new position in shares of Barrick Mining in the 3rd quarter worth about $41,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Mining Price Performance

Shares of Barrick Mining stock opened at $45.86 on Tuesday. The firm has a market capitalization of $76.82 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 1.42 and a beta of 0.41. The business’s 50-day moving average price is $47.90 and its 200-day moving average price is $39.61. The company has a current ratio of 2.92, a quick ratio of 2.33 and a debt-to-equity ratio of 0.13. Barrick Mining Corporation has a 12 month low of $17.00 and a 12 month high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings data on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.19. Barrick Mining had a net margin of 29.45% and a return on equity of 12.10%. The company had revenue of $5.98 billion during 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. Sell-side analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The company 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 dividend of $0.42 per share. The ex-dividend date is Friday, February 27th. This represents a $1.68 dividend on an annualized basis and a yield of 3.7%. This is an increase from Barrick Mining’s previous quarterly dividend of $0.18. Barrick Mining’s dividend payout ratio (DPR) is currently 57.34%.

Wall Street Analyst Weigh In

A number of research firms recently commented on B. Wall Street Zen raised shares of Barrick Mining from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 7th. Zacks Research lowered shares of Barrick Mining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 13th. Citigroup lifted their price target on Barrick Mining from $38.00 to $48.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Barrick Mining in a research report on Monday, December 29th. Finally, Bank of America raised shares of Barrick Mining from a “neutral” rating to a “buy” rating and upped their target price for the stock from $38.00 to $48.00 in a report on Monday, November 24th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.25.

About Barrick Mining

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.