Letko Brosseau & Associates Inc. Has $200.09 Million Position in Barrick Mining Corporation $B

Letko Brosseau & Associates Inc. trimmed its stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 6.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,587,350 shares of the gold and copper producer’s stock after selling 312,725 shares during the quarter. Barrick Mining makes up about 3.3% of Letko Brosseau & Associates Inc.’s portfolio, making the stock its 10th biggest holding. Letko Brosseau & Associates Inc. owned 0.27% of Barrick Mining worth $200,093,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Quadrature Capital Ltd grew its stake in Barrick Mining by 113.2% in the third quarter. Quadrature Capital Ltd now owns 3,984,800 shares of the gold and copper producer’s stock valued at $130,764,000 after purchasing an additional 2,115,800 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new stake in shares of Barrick Mining in the third quarter valued at approximately $1,889,000. WINTON GROUP Ltd acquired a new stake in shares of Barrick Mining in the third quarter valued at approximately $12,739,000. Picton Mahoney Asset Management lifted its position in shares of Barrick Mining by 1,673.9% in the third quarter. Picton Mahoney Asset Management now owns 1,577,359 shares of the gold and copper producer’s stock valued at $51,797,000 after buying an additional 1,488,438 shares during the last quarter. Finally, Schroder Investment Management Group acquired a new stake in Barrick Mining during the 3rd quarter worth approximately $111,426,000. 90.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on B shares. Barclays started coverage on Barrick Mining in a report on Thursday, May 21st. They set an “equal weight” rating and a $41.00 price target for the company. ATB Cormark Capital Markets lowered Barrick Mining from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Canadian Imperial Bank of Commerce decreased their price target on Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a research note on Tuesday, April 21st. UBS Group lifted their price target on Barrick Mining from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Finally, Canaccord Genuity Group decreased their price target on Barrick Mining to $77.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. One equities research 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.46.

Barrick Mining Trading Down 0.9%

Shares of B opened at $39.09 on Wednesday. Barrick Mining Corporation has a 52-week low of $19.94 and a 52-week high of $54.69. The business’s fifty day moving average is $41.61 and its 200-day moving average is $43.85. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.44 and a current ratio of 3.06. The firm has a market cap of $65.03 billion, a price-to-earnings ratio of 10.80, a PEG ratio of 1.12 and a beta of 0.44.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings data on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.18. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.75 billion. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The business’s quarterly revenue was up 66.7% compared to the same quarter last year. Equities analysts anticipate 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 given a dividend of $0.175 per share. The ex-dividend date is Friday, May 29th. This represents a $0.70 dividend on an annualized basis and a yield of 1.8%. Barrick Mining’s payout ratio is currently 19.34%.

Barrick Mining 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.