Empyrean Capital Partners LP Sells 153,200 Shares of Barrick Mining Corporation $B

Empyrean Capital Partners LP lowered its stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 18.7% during the 1st quarter, HoldingsChannel.com reports. The fund owned 667,800 shares of the gold and copper producer’s stock after selling 153,200 shares during the quarter. Empyrean Capital Partners LP’s holdings in Barrick Mining were worth $27,240,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in B. Financial Consulate Inc. lifted its position in shares of Barrick Mining by 1,042.0% in the 4th 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. Westside Investment Management Inc. purchased a new position in shares of Barrick Mining during the fourth quarter valued at about $25,000. Intesa Sanpaolo Wealth Management purchased a new position in shares of Barrick Mining during the fourth quarter valued at about $26,000. Ascentis Independent Advisors purchased a new position in shares of Barrick Mining during the first quarter valued at about $28,000. Finally, JPL Wealth Management LLC bought a new position in Barrick Mining in the third quarter worth about $28,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Mining Price Performance

Shares of NYSE:B opened at $37.34 on Tuesday. The business has a fifty day moving average price of $38.79 and a 200-day moving average price of $42.66. 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 company has a market capitalization of $62.10 billion, a PE ratio of 10.31, a PEG ratio of 0.79 and a beta of 0.48. Barrick Mining Corporation has a 1-year low of $20.94 and a 1-year high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings results on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $4.75 billion. The company’s revenue was up 66.7% on a year-over-year basis. As a group, equities analysts expect that Barrick Mining Corporation will post 3.56 EPS 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 issued a $0.175 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.70 annualized dividend and a yield of 1.9%. Barrick Mining’s payout ratio is 19.34%.

Wall Street Analysts Forecast Growth

B has been the topic of several research reports. Bank of America cut their price objective on Barrick Mining from $58.00 to $56.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. UBS Group decreased their target price on Barrick Mining from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Wall Street Zen cut Barrick Mining from a “strong-buy” rating to a “buy” rating in a research note on Saturday. ATB Cormark Capital Markets lowered Barrick Mining from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, Royal Bank Of Canada reduced their price target on Barrick Mining from $51.00 to $49.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.46.

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.