Nicholas Hoffman & Company LLC. Has $1.04 Million Stock Position in Barrick Mining Corporation $B

Nicholas Hoffman & Company LLC. cut its holdings in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 38.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,897 shares of the gold and copper producer’s stock after selling 14,668 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in Barrick Mining were worth $1,041,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Capital International Investors raised its stake in Barrick Mining by 35.9% during the 3rd quarter. Capital International Investors now owns 101,846,588 shares of the gold and copper producer’s stock valued at $3,340,709,000 after purchasing an additional 26,921,219 shares during the last quarter. CIBC Asset Management Inc grew its position in Barrick Mining by 316.0% in 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 purchasing an additional 13,891,886 shares during the last quarter. Ameriprise Financial Inc. bought a new position in shares of Barrick Mining during the 2nd quarter worth about $211,263,000. Canada Pension Plan Investment Board bought a new position in shares of Barrick Mining during the 2nd quarter worth about $172,230,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Barrick Mining by 664.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,013,464 shares of the gold and copper producer’s stock valued at $295,977,000 after buying an additional 7,833,887 shares during the last quarter. 90.82% of the stock is owned by institutional investors.

Barrick Mining Stock Up 1.0%

Shares of B opened at $38.72 on Wednesday. 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 company has a 50-day moving average price of $42.67 and a two-hundred day moving average price of $42.45. The stock has a market cap of $64.88 billion, a price-to-earnings ratio of 13.22, a P/E/G ratio of 1.14 and a beta of 0.41. Barrick Mining Corporation has a 12 month low of $17.41 and a 12 month high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.19. The business had revenue of $5.98 billion during the quarter, compared to analysts’ expectations of $5.15 billion. Barrick Mining had a return on equity of 12.10% and a net margin of 29.45%.The firm’s revenue was up 44.6% on a year-over-year basis. Equities analysts predict that Barrick Mining Corporation will post 3.56 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Friday, February 27th were paid a dividend of $0.42 per share. This is an increase from Barrick Mining’s previous quarterly dividend of $0.18. This represents a $1.68 annualized dividend and a yield of 4.3%. The ex-dividend date was Friday, February 27th. Barrick Mining’s dividend payout ratio is currently 57.34%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on B. Scotiabank increased their target price on shares of Barrick Mining from $43.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Wall Street Zen upgraded Barrick Mining from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 7th. Zacks Research lowered Barrick Mining from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 13th. ATB Cormark Capital Markets cut Barrick Mining from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Barrick Mining in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.17.

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.