Barrick Mining Corporation $B Shares Sold by Magnetar Financial LLC

Magnetar Financial LLC trimmed its holdings in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 30.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 99,741 shares of the gold and copper producer’s stock after selling 44,410 shares during the period. Magnetar Financial LLC’s holdings in Barrick Mining were worth $4,344,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Financial Consulate Inc. boosted its position in Barrick Mining by 1,042.0% during 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 stake in Barrick Mining during the 4th quarter worth $25,000. Intesa Sanpaolo Wealth Management purchased a new stake in Barrick Mining during the 4th quarter worth $26,000. JPL Wealth Management LLC purchased a new position in Barrick Mining in the 3rd quarter valued at about $28,000. Finally, Laurel Wealth Advisors LLC purchased a new position in Barrick Mining in the 4th quarter valued at about $30,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on B shares. Weiss Ratings lowered shares of Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Canaccord Genuity Group cut their target price on shares of Barrick Mining to $77.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. Canadian Imperial Bank of Commerce cut their target price on shares of Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a research note on Tuesday, April 21st. ATB Cormark Capital Markets lowered shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Finally, Barclays started coverage on shares of Barrick Mining in a research note on Thursday, May 21st. They issued an “equal weight” rating and a $41.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $53.46.

Barrick Mining Stock Performance

Shares of NYSE B opened at $42.84 on Wednesday. Barrick Mining Corporation has a 12-month low of $20.35 and a 12-month high of $54.69. The company has a market cap of $71.27 billion, a PE ratio of 11.84, a P/E/G ratio of 1.19 and a beta of 0.44. The stock has a 50 day simple moving average of $41.54 and a 200-day simple moving average of $43.91. The company has a current ratio of 3.06, a quick ratio of 2.44 and a debt-to-equity ratio of 0.13.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings data on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.18. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates 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. On average, equities research analysts forecast that Barrick Mining Corporation will post 3.78 EPS for the current year.

Barrick Mining Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were paid a $0.175 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.70 dividend on an annualized basis and a yield of 1.6%. Barrick Mining’s dividend payout ratio (DPR) is currently 19.34%.

Barrick Mining Company 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.