Allspring Global Investments Holdings LLC Sells 179,891 Shares of Barrick Mining Corporation $B

Allspring Global Investments Holdings LLC reduced its stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 10.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,499,168 shares of the gold and copper producer’s stock after selling 179,891 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Barrick Mining were worth $63,265,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of B. Bogart Wealth LLC increased its stake in shares of Barrick Mining by 3.5% in the fourth quarter. Bogart Wealth LLC now owns 6,442 shares of the gold and copper producer’s stock valued at $281,000 after buying an additional 218 shares during the period. Parvin Asset Management LLC raised its holdings in Barrick Mining by 0.7% during the 4th quarter. Parvin Asset Management LLC now owns 33,385 shares of the gold and copper producer’s stock worth $1,454,000 after purchasing an additional 225 shares during the last quarter. Silver Oak Securities Incorporated lifted its position in shares of Barrick Mining by 2.9% in the 1st quarter. Silver Oak Securities Incorporated now owns 8,810 shares of the gold and copper producer’s stock worth $359,000 after purchasing an additional 246 shares during the period. Mmbg Investment Advisors CO. raised its stake in Barrick Mining by 0.6% during the fourth quarter. Mmbg Investment Advisors CO. now owns 43,454 shares of the gold and copper producer’s stock worth $1,892,000 after buying an additional 254 shares during the last quarter. Finally, S.A. Mason LLC raised its stake in Barrick Mining by 1.3% during the fourth quarter. S.A. Mason LLC now owns 23,114 shares of the gold and copper producer’s stock worth $1,007,000 after buying an additional 300 shares during the last quarter. 90.82% of the stock is owned by institutional investors and hedge funds.

Barrick Mining Stock Up 0.2%

Shares of NYSE:B opened at $34.93 on Friday. 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 52-week low of $20.68 and a 52-week high of $54.69. The business’s 50 day simple moving average is $39.63 and its two-hundred day simple moving average is $43.01. The firm has a market cap of $58.10 billion, a P/E ratio of 9.65, a PEG ratio of 0.75 and a beta of 0.48.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings data on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, beating the consensus estimate of $0.80 by $0.18. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.75 billion. The company’s quarterly revenue was up 66.7% on a year-over-year basis. As a group, research analysts forecast that Barrick Mining Corporation will post 3.61 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were given a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Friday, May 29th. Barrick Mining’s dividend payout ratio is presently 19.34%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. UBS Group cut their price target on shares of Barrick Mining from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Weiss Ratings lowered Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Bank of America cut their target price 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. Canadian Imperial Bank of Commerce lowered their target price on Barrick Mining to $63.00 and set an “outperformer” rating for the company in a report on Tuesday, April 21st. Finally, Scotiabank dropped their price target on Barrick Mining from $63.00 to $57.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Barrick Mining has a consensus rating of “Moderate Buy” and an average target price of $53.85.

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.