Commonwealth Equity Services LLC Reduces Position in Barrick Mining Corporation $B

Commonwealth Equity Services LLC cut its holdings in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 6.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 447,336 shares of the gold and copper producer’s stock after selling 32,259 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Barrick Mining were worth $14,659,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in B. Vermillion Wealth Management Inc. bought a new stake in shares of Barrick Mining in the second quarter worth $25,000. Crowley Wealth Management Inc. acquired a new position in Barrick Mining during the 2nd quarter worth $26,000. Concord Wealth Partners bought a new stake in shares of Barrick Mining in the 2nd quarter worth about $26,000. Ameriflex Group Inc. bought a new position in shares of Barrick Mining during the second quarter worth about $27,000. Finally, Trifecta Capital Advisors LLC acquired a new position in Barrick Mining in the second quarter worth about $27,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Mining Stock Up 0.6%

Barrick Mining stock opened at $47.75 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.33 and a current ratio of 2.94. Barrick Mining Corporation has a one year low of $15.31 and a one year high of $48.50. The company has a 50-day simple moving average of $40.97 and a 200-day simple moving average of $31.92. The firm has a market capitalization of $80.39 billion, a P/E ratio of 23.07, a P/E/G ratio of 0.40 and a beta of 0.41.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its earnings results on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Barrick Mining had a net margin of 24.53% and a return on equity of 9.48%. The firm had revenue of $4.19 billion during the quarter, compared to analyst estimates of $4.20 billion. During the same period in the previous year, the business posted $0.09 EPS. Barrick Mining’s revenue was up 23.2% on a year-over-year basis. As a group, equities analysts expect that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were given a dividend of $0.175 per share. This is a boost from Barrick Mining’s previous quarterly dividend of $0.15. This represents a $0.70 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Friday, November 28th. Barrick Mining’s payout ratio is presently 33.82%.

Analyst Ratings Changes

B has been the topic of several research reports. BNP Paribas Exane upgraded Barrick Mining from a “neutral” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research note on Friday, December 5th. UBS Group boosted their price target on Barrick Mining from $39.00 to $47.00 and gave the company a “buy” rating in a report on Monday, December 1st. Bank of America upgraded Barrick Mining from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $38.00 to $48.00 in a research note on Monday, November 24th. BNP Paribas upgraded shares of Barrick Mining to a “neutral” rating and set a $50.00 target price for the company in a research note on Friday, December 5th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Barrick Mining in a report on Wednesday, September 24th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Barrick Mining has an average rating of “Buy” and a consensus target price of $47.17.

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.