Letko Brosseau & Associates Inc. Trims Stock Holdings in Barrick Mining Corporation $B

Letko Brosseau & Associates Inc. lowered its position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 6.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,587,350 shares of the gold and copper producer’s stock after selling 312,725 shares during the period. Barrick Mining comprises about 3.3% of Letko Brosseau & Associates Inc.’s portfolio, making the stock its 10th biggest position. Letko Brosseau & Associates Inc.’s holdings in Barrick Mining were worth $200,093,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Financial Consulate Inc. lifted its holdings 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 buying an additional 521 shares during the period. Westside Investment Management Inc. acquired a new position in Barrick Mining during the 4th quarter worth about $25,000. JPL Wealth Management LLC acquired a new position in Barrick Mining during the 3rd quarter worth about $28,000. Laurel Wealth Advisors LLC acquired a new position in Barrick Mining during the 4th quarter worth about $30,000. Finally, Pin Oak Investment Advisors Inc. acquired a new position in Barrick Mining during the 3rd quarter worth about $31,000. Institutional investors own 90.82% of the company’s stock.

Analyst Ratings Changes

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

Barrick Mining Stock Down 0.9%

Shares of NYSE:B opened at $39.09 on Wednesday. The company has a market capitalization of $65.03 billion, a price-to-earnings ratio of 10.80, a P/E/G ratio of 1.12 and a beta of 0.44. 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 business’s 50-day moving average is $41.61 and its 200-day moving average is $43.85. Barrick Mining Corporation has a 1 year low of $19.94 and a 1 year high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last announced 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 company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.75 billion. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The firm’s quarterly revenue was up 66.7% compared to the same quarter last year. Equities research analysts predict that Barrick Mining Corporation will post 3.78 earnings per share for the current year.

Barrick Mining Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, May 29th. Barrick Mining’s payout ratio is currently 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.