Encompass Capital Advisors LLC Sells 1,085,605 Shares of Barrick Mining Corporation $B

Encompass Capital Advisors LLC cut its holdings in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 73.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 400,000 shares of the gold and copper producer’s stock after selling 1,085,605 shares during the period. Encompass Capital Advisors LLC’s holdings in Barrick Mining were worth $17,420,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of B. CW Advisors LLC bought a new position in Barrick Mining in the 2nd quarter worth approximately $283,000. EverSource Wealth Advisors LLC bought a new position in Barrick Mining in the 2nd quarter worth approximately $53,000. First Trust Advisors LP bought a new position in Barrick Mining in the 2nd quarter worth approximately $857,000. Baird Financial Group Inc. bought a new position in Barrick Mining in the 2nd quarter worth approximately $2,569,000. Finally, Cresset Asset Management LLC bought a new position in Barrick Mining in the 2nd quarter worth approximately $543,000. 90.82% of the stock is owned by institutional investors.

Barrick Mining Stock Performance

NYSE B opened at $41.30 on Thursday. Barrick Mining Corporation has a 1 year low of $20.35 and a 1 year high of $54.69. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.06 and a quick ratio of 2.44. The stock has a market capitalization of $68.70 billion, a PE ratio of 11.41, a P/E/G ratio of 1.22 and a beta of 0.44. The company’s 50 day simple moving average is $41.55 and its two-hundred day simple moving average is $43.91.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.18. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. The business had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.75 billion. Barrick Mining’s quarterly revenue was up 66.7% compared to the same quarter last year. Analysts predict that Barrick Mining Corporation will post 3.78 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were paid a $0.175 dividend. The ex-dividend date was Friday, May 29th. This represents a $0.70 annualized dividend and a yield of 1.7%. Barrick Mining’s dividend payout ratio is currently 19.34%.

Analysts Set New Price Targets

B has been the subject of several analyst reports. Canaccord Genuity Group cut their price objective on shares of Barrick Mining to $77.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. Weiss Ratings downgraded shares of Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Canadian Imperial Bank of Commerce cut their price objective on shares of Barrick Mining to $63.00 and set an “outperformer” rating for the company in a report on Tuesday, April 21st. ATB Cormark Capital Markets downgraded shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. Finally, UBS Group raised their price objective on shares of Barrick Mining from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Barrick Mining has a consensus rating of “Moderate Buy” and a consensus target price of $53.46.

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.