Encompass Capital Advisors LLC Lowers Stake in Barrick Mining Corporation $B

Encompass Capital Advisors LLC lowered its stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 73.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 400,000 shares of the gold and copper producer’s stock after selling 1,085,605 shares during the quarter. Encompass Capital Advisors LLC’s holdings in Barrick Mining were worth $17,420,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Boothbay Fund Management LLC raised its position in shares of Barrick Mining by 511.6% during the 4th quarter. Boothbay Fund Management LLC now owns 61,820 shares of the gold and copper producer’s stock valued at $2,692,000 after buying an additional 51,712 shares in the last quarter. Caisse de depot et placement du Quebec raised its position in shares of Barrick Mining by 49.7% during the 4th quarter. Caisse de depot et placement du Quebec now owns 1,892,372 shares of the gold and copper producer’s stock valued at $82,542,000 after buying an additional 628,345 shares in the last quarter. Bank OZK purchased a new stake in shares of Barrick Mining during the 4th quarter valued at $692,000. AQR Capital Management LLC raised its position in shares of Barrick Mining by 3,534.2% during the 4th quarter. AQR Capital Management LLC now owns 4,735,562 shares of the gold and copper producer’s stock valued at $206,288,000 after buying an additional 4,605,256 shares in the last quarter. Finally, GAM Holding AG purchased a new stake in shares of Barrick Mining during the 4th quarter valued at $288,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Barclays assumed coverage on shares of Barrick Mining in a research report on Thursday, May 21st. They set an “equal weight” rating and a $41.00 price objective on the stock. Canaccord Genuity Group reduced their target price on shares of Barrick Mining to $77.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. Weiss Ratings lowered shares of Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. ATB Cormark Capital Markets lowered shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. Finally, UBS Group increased their target price on shares of Barrick Mining from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $53.46.

Barrick Mining Price Performance

B stock opened at $41.30 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.44 and a current ratio of 3.06. Barrick Mining Corporation has a 52 week low of $20.35 and a 52 week high of $54.69. The firm’s fifty day moving average is $41.55 and its 200 day moving average is $43.91. The firm has a market cap of $68.70 billion, a P/E ratio of 11.41, a P/E/G ratio of 1.22 and a beta of 0.44.

Barrick Mining (NYSE:B) (TSE:ABX) last released its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, beating 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 company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.75 billion. The business’s quarterly revenue was up 66.7% on a year-over-year basis. Research analysts predict that Barrick Mining Corporation will post 3.78 earnings per share for the current year.

Barrick Mining Cuts Dividend

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

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.