Barrick Mining Corporation $B Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC reduced its position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 13.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,257,216 shares of the gold and copper producer’s stock after selling 188,600 shares during the period. Gabelli Funds LLC’s holdings in Barrick Mining were worth $41,199,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of B. Vanguard Group Inc. acquired a new stake in shares of Barrick Mining during the second quarter worth about $1,459,633,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Barrick Mining in the second quarter valued at approximately $696,000. Philadelphia Trust Co. purchased a new stake in Barrick Mining during the 2nd quarter worth approximately $1,412,000. CIBC Asset Management Inc increased its stake in Barrick Mining by 316.0% during the 3rd quarter. CIBC Asset Management Inc now owns 18,287,558 shares of the gold and copper producer’s stock worth $601,115,000 after buying an additional 13,891,886 shares during the period. Finally, Cadence Wealth Management LLC acquired a new stake in Barrick Mining during the 2nd quarter worth approximately $1,112,000. 90.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

B has been the subject of several recent research reports. Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $71.00 price target on shares of Barrick Mining in a research report on Wednesday, February 4th. BNP Paribas Exane raised Barrick Mining to a “neutral” rating and set a $50.00 price objective on the stock in a research report on Friday, December 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Barrick Mining in a research note on Monday, December 29th. Canaccord Genuity Group decreased their target price on Barrick Mining to $77.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. Finally, Zacks Research cut Barrick Mining from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 13th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.25.

Barrick Mining Trading Up 0.1%

NYSE B opened at $45.40 on Friday. Barrick Mining Corporation has a 52 week low of $17.00 and a 52 week high of $54.69. The firm has a 50 day moving average of $47.86 and a two-hundred day moving average of $39.26. The company has a quick ratio of 2.33, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $76.06 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 1.42 and a beta of 0.41.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings data on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.19. The business had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.15 billion. Barrick Mining had a net margin of 29.45% and a return on equity of 12.10%. Barrick Mining’s revenue was up 44.6% compared to the same quarter last year. As a group, research analysts expect that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.7%. This is a boost from Barrick Mining’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Friday, February 27th. Barrick Mining’s dividend payout ratio is currently 57.34%.

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.