Barrick Mining Corporation $B Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. lowered its position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 6.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 295,181 shares of the gold and copper producer’s stock after selling 18,809 shares during the period. Crossmark Global Holdings Inc.’s holdings in Barrick Mining were worth $12,005,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Groupe la Francaise boosted its position in Barrick Mining by 3.3% during the second quarter. Groupe la Francaise now owns 943,327 shares of the gold and copper producer’s stock worth $34,667,000 after purchasing an additional 29,816 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Barrick Mining by 231.3% in the second quarter. NewEdge Advisors LLC now owns 138,414 shares of the gold and copper producer’s stock valued at $5,084,000 after buying an additional 96,636 shares in the last quarter. Spark Investment Management LLC increased its position in shares of Barrick Mining by 31.6% in the second quarter. Spark Investment Management LLC now owns 50,000 shares of the gold and copper producer’s stock valued at $1,837,000 after buying an additional 12,000 shares in the last quarter. Summit Securities Group LLC increased its position in shares of Barrick Mining by 203.6% in the first quarter. Summit Securities Group LLC now owns 101,400 shares of the gold and copper producer’s stock valued at $4,136,000 after buying an additional 68,000 shares in the last quarter. Finally, Independent Financial Group LLC acquired a new position in shares of Barrick Mining during the 1st quarter worth $2,202,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Mining News Roundup

Here are the key news stories impacting Barrick Mining this week:

• Positive Sentiment: Some analysts remain bullish. RBC Dominion Securities initiated an “outperform” rating with a $53 price target, while JPMorgan raised its target to $55 and maintained an “overweight” rating. These targets imply substantial upside from recent levels. RBC Dominion Securities rating JPMorgan rating
• Positive Sentiment: Potential longer-term catalysts include dividends, buybacks and production growth. Barrick’s strong balance sheet and exposure to elevated gold and copper prices could support a revaluation if production expands and capital returns improve. Barrick potential catalysts
• Neutral Sentiment: Analyst sentiment is divided. Barrick’s valuation remains supported by its profitable operations and prior earnings growth, but investors are awaiting the company’s upcoming third-quarter results for evidence that operating performance and cash generation are keeping pace with higher metals prices. Barrick earnings and cash flow analysis
• Negative Sentiment: Freedom Broker downgraded Barrick to “hold” from “buy” and cut its price target to $46 from $54. The firm cited lower near-term EBITDA forecasts, operational risks and valuation constraints. The downgrade contributed to broad weakness across major gold miners, including Barrick, Agnico Eagle and Newmont. Freedom Broker downgrade
• Negative Sentiment: Cash-flow concerns are tempering the earnings story. Although second-quarter net earnings rose sharply on stronger gold and copper prices, attributable free cash flow declined year over year, raising questions about cost control, capital spending and the durability of shareholder returns.

Analysts Set New Price Targets

Several equities research analysts recently commented on B shares. Bank of America decreased their price objective on shares of Barrick Mining from $56.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Canadian Imperial Bank of Commerce cut shares of Barrick Mining from a “sector outperform” rating to a “neutral” rating and lowered their price objective for the company from $57.00 to $49.00 in a research note on Friday, October 16th. UBS Group dropped their target price on shares of Barrick Mining from $54.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Barclays lifted their target price on shares of Barrick Mining from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. Finally, Sanford C. Bernstein reduced their price objective on Barrick Mining from $61.00 to $56.50 and set an “outperform” rating on the stock in a research report on Wednesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $52.59.

Barrick Mining Stock Performance

Shares of B stock opened at $38.65 on Friday. Barrick Mining Corporation has a 12 month low of $30.98 and a 12 month high of $54.69. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.01 and a quick ratio of 2.36. The firm has a market capitalization of $63.18 billion, a P/E ratio of 9.96, a P/E/G ratio of 1.27 and a beta of 0.48. The company’s fifty day moving average price is $42.81 and its two-hundred day moving average price is $40.91.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its earnings results on Monday, August 10th. The gold and copper producer reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.01. Barrick Mining had a return on equity of 16.02% and a net margin of 31.60%. The company had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same period last year, the firm earned $0.47 earnings per share. The company’s revenue was up 43.8% on a year-over-year basis. On average, research analysts anticipate that Barrick Mining Corporation will post 3.50 earnings per share for the current fiscal year.

Barrick Mining Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were issued a $0.1750 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $0.70 dividend on an annualized basis and a yield of 1.8%. Barrick Mining’s dividend payout ratio is currently 18.04%.

Barrick Mining Profile

Barrick Mining Corporation, formerly known as Barrick Gold Corporation, is a global mining company focused primarily on the exploration, development and production of gold and copper. Its activities include operating mines, advancing development projects and managing mineral reserves across multiple jurisdictions.

The company’s gold operations include Nevada Gold Mines in the United States, a joint venture in which Barrick is the operator, as well as mines and projects in Canada, the Dominican Republic, Mali, Côte d’Ivoire, Tanzania and the Democratic Republic of the Congo.