Hsbc Holdings PLC Cuts Stake in Barrick Mining Corporation $B

Hsbc Holdings PLC lessened its holdings in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 52.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,202,437 shares of the gold and copper producer’s stock after selling 1,348,062 shares during the quarter. Hsbc Holdings PLC owned about 0.07% of Barrick Mining worth $52,679,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Westside Investment Management Inc. bought a new stake in shares of Barrick Mining during the fourth quarter valued at approximately $25,000. Financial Consulate Inc. lifted its holdings in shares of Barrick Mining by 1,042.0% in the fourth 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 in the last quarter. Intesa Sanpaolo Wealth Management bought a new position in shares of Barrick Mining during the fourth quarter worth $26,000. Laurel Wealth Advisors LLC bought a new position in shares of Barrick Mining during the fourth quarter worth $30,000. Finally, Motiv8 Investments LLC purchased a new position in Barrick Mining during the fourth quarter valued at $31,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Barclays initiated coverage on shares of Barrick Mining in a research note on Thursday, May 21st. They issued an “equal weight” rating and a $41.00 price target on the stock. Weiss Ratings lowered Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Canadian Imperial Bank of Commerce reduced their target price on Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a report on Tuesday, April 21st. ATB Cormark Capital Markets downgraded Barrick Mining from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, UBS Group raised their price target on Barrick Mining from $50.00 to $54.00 and gave the company 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 assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.46.

Barrick Mining Stock Performance

Barrick Mining stock opened at $38.13 on Wednesday. The company’s 50-day moving average price is $41.33 and its 200-day moving average price is $43.87. Barrick Mining Corporation has a twelve month low of $20.35 and a twelve month high of $54.69. The company has a quick ratio of 2.44, a current ratio of 3.06 and a debt-to-equity ratio of 0.13. The company has a market cap of $63.43 billion, a PE ratio of 10.53, a price-to-earnings-growth ratio of 1.14 and a beta of 0.44.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.18. The firm had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.75 billion. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. Barrick Mining’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 fiscal year.

Barrick Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were given a dividend of $0.175 per share. The ex-dividend date was Friday, May 29th. This represents a $0.70 dividend on an annualized basis and a yield of 1.8%. Barrick Mining’s dividend payout ratio is 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.