Metis Global Partners LLC Lowers Position in Barrick Mining Corporation $B

Metis Global Partners LLC lessened its stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 14.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 169,991 shares of the gold and copper producer’s stock after selling 29,272 shares during the period. Metis Global Partners LLC’s holdings in Barrick Mining were worth $7,405,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Bogart Wealth LLC boosted its position in Barrick Mining by 3.5% in the 4th quarter. Bogart Wealth LLC now owns 6,442 shares of the gold and copper producer’s stock worth $281,000 after purchasing an additional 218 shares in the last quarter. Mmbg Investment Advisors CO. boosted its position in Barrick Mining by 0.6% in the 4th quarter. Mmbg Investment Advisors CO. now owns 43,454 shares of the gold and copper producer’s stock worth $1,892,000 after purchasing an additional 254 shares in the last quarter. S.A. Mason LLC boosted its position in Barrick Mining by 1.3% in the 4th quarter. S.A. Mason LLC now owns 23,114 shares of the gold and copper producer’s stock worth $1,007,000 after purchasing an additional 300 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in Barrick Mining by 1.0% in the 4th quarter. Sequoia Financial Advisors LLC now owns 31,212 shares of the gold and copper producer’s stock worth $1,359,000 after purchasing an additional 302 shares in the last quarter. Finally, Legacy Financial Advisors Inc. boosted its position in Barrick Mining by 3.9% in the 4th quarter. Legacy Financial Advisors Inc. now owns 8,569 shares of the gold and copper producer’s stock worth $373,000 after purchasing an additional 319 shares in the last quarter. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Barrick Mining Price Performance

Shares of NYSE B opened at $37.15 on Thursday. The firm has a market cap of $61.79 billion, a PE ratio of 10.26, a PEG ratio of 1.11 and a beta of 0.44. The firm has a fifty day moving average of $41.59 and a 200 day moving average of $43.86. 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 Corporation has a one year low of $20.01 and a one year high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings results on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, topping the consensus estimate of $0.80 by $0.18. The company had revenue of $4.11 billion during 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 revenue was up 66.7% on a year-over-year basis. As a group, research analysts predict that Barrick Mining Corporation will post 3.78 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be paid a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, May 29th. Barrick Mining’s dividend payout ratio is currently 19.34%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Canadian Imperial Bank of Commerce lowered their price objective on Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a research report on Tuesday, April 21st. Weiss Ratings cut shares of Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Barclays started coverage on shares of Barrick Mining in a report on Thursday, May 21st. They issued an “equal weight” rating and a $41.00 price target for the company. Canaccord Genuity Group cut 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. Finally, UBS Group boosted their price target on shares of Barrick Mining from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Barrick Mining presently has a consensus rating of “Moderate Buy” and an average target price of $53.46.

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.