Van ECK Associates Corp Trims Position in Barrick Mining Corporation $B

Van ECK Associates Corp cut its stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 30.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,135,696 shares of the gold and copper producer’s stock after selling 19,934,190 shares during the quarter. Barrick Mining comprises about 1.4% of Van ECK Associates Corp’s holdings, making the stock its 17th biggest holding. Van ECK Associates Corp’s holdings in Barrick Mining were worth $1,479,164,000 as of its most recent filing with the Securities and Exchange Commission.

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

Barrick Mining Price Performance

NYSE B opened at $45.86 on Tuesday. 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 business’s fifty day moving average is $47.90 and its 200 day moving average is $39.61. The company 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. Barrick Mining Corporation has a fifty-two week low of $17.00 and a fifty-two week high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last released its earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $5.15 billion. The business’s revenue was up 44.6% on a year-over-year basis. Sell-side analysts predict that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be issued a dividend of $0.42 per share. 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 annualized dividend and a dividend yield of 3.7%. Barrick Mining’s payout ratio is currently 57.34%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on B. DZ Bank upgraded shares of Barrick Mining to a “strong-buy” rating in a research note on Monday, January 19th. Bank of America raised Barrick Mining from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $38.00 to $48.00 in a report on Monday, November 24th. JPMorgan Chase & Co. began coverage on Barrick Mining in a report on Thursday, January 29th. They issued an “overweight” rating and a $68.00 price objective for the company. UBS Group set a $55.00 price target on shares of Barrick Mining in a report on Friday, February 6th. Finally, Raymond James Financial raised their target price on shares of Barrick Mining from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Tuesday, November 25th. Two research 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.25.

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.