Maryland State Retirement & Pension System Sells 41,456 Shares of Barrick Mining Corporation $B

Maryland State Retirement & Pension System trimmed its holdings in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 7.1% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 538,927 shares of the gold and copper producer’s stock after selling 41,456 shares during the period. Maryland State Retirement & Pension System’s holdings in Barrick Mining were worth $22,029,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in B. Westside Investment Management Inc. bought a new stake in Barrick Mining in the 4th quarter valued at $25,000. Financial Consulate Inc. boosted its position in Barrick Mining by 1,042.0% during the fourth quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock worth $25,000 after purchasing an additional 521 shares during the period. Intesa Sanpaolo Wealth Management bought a new position in Barrick Mining during the fourth quarter worth $26,000. Ascentis Independent Advisors acquired a new position in shares of Barrick Mining in the first quarter valued at $28,000. Finally, Laurel Wealth Advisors LLC acquired a new position in shares of Barrick Mining in the fourth quarter valued at $30,000. 90.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on B shares. ATB Cormark Capital Markets cut shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Scotiabank decreased their price target on shares of Barrick Mining from $63.00 to $57.00 and set a “sector outperform” rating on the stock in a research note on Tuesday. Bank of America lowered their price target on shares of Barrick Mining from $58.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. 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 research report on Tuesday, April 21st. Finally, UBS Group reduced their price objective on Barrick Mining from $54.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Barrick Mining currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

Barrick Mining Price Performance

NYSE:B opened at $36.48 on Wednesday. Barrick Mining Corporation has a 52 week low of $20.52 and a 52 week high of $54.69. The firm has a market cap of $60.69 billion, a price-to-earnings ratio of 10.08, a P/E/G ratio of 0.78 and a beta of 0.48. The firm’s 50-day simple moving average is $40.05 and its 200 day simple moving average is $43.21. 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 (NYSE:B) (TSE:ABX) last posted its quarterly earnings data on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.18. The firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.75 billion. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. The company’s quarterly revenue was up 66.7% compared to the same quarter last year. As a group, sell-side analysts predict that Barrick Mining Corporation will post 3.63 earnings per share for the current year.

Barrick Mining Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were given a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Friday, May 29th. Barrick Mining’s payout ratio is presently 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.