Victory Capital Management Inc. Sells 2,887,247 Shares of Barrick Mining Corporation $B

Victory Capital Management Inc. trimmed its holdings in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 36.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,094,314 shares of the gold and copper producer’s stock after selling 2,887,247 shares during the period. Victory Capital Management Inc.’s holdings in Barrick Mining were worth $169,581,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on B shares. Canaccord Genuity Group lowered their price target on shares of Barrick Mining to $77.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. UBS Group set a $55.00 target price on Barrick Mining in a research note on Friday, February 6th. Scotiabank boosted their target price on Barrick Mining from $43.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. DZ Bank upgraded Barrick Mining to a “strong-buy” rating in a report on Monday, January 19th. Finally, JPMorgan Chase & Co. started coverage on Barrick Mining in a report on Thursday, January 29th. They set an “overweight” rating and a $68.00 price objective for the company. Two 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $55.25.

Barrick Mining Stock Performance

Shares of B stock opened at $46.28 on Wednesday. The stock has a 50-day moving average of $47.85 and a 200-day moving average of $39.02. Barrick Mining Corporation has a one year low of $17.00 and a one year high of $54.69. The stock has a market cap of $77.54 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 1.58 and a beta of 0.41. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 2.33.

Barrick Mining (NYSE:B) (TSE:ABX) last issued 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. The firm had revenue of $5.98 billion during the quarter, compared to analysts’ expectations 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. As a group, sell-side analysts expect that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be given a $0.42 dividend. The ex-dividend date is Friday, February 27th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.6%. This is an increase from Barrick Mining’s previous quarterly dividend of $0.18. Barrick Mining’s dividend payout ratio is currently 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.