Jefferies Financial Group Inc. Decreases Stake in Barrick Mining Corporation $B

Jefferies Financial Group Inc. cut its holdings in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 64.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 108,838 shares of the gold and copper producer’s stock after selling 200,516 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Barrick Mining were worth $4,740,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Financial Consulate Inc. boosted its position in Barrick Mining by 1,042.0% during the fourth quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock worth $25,000 after purchasing an additional 521 shares in the last quarter. Westside Investment Management Inc. purchased a new stake in shares of Barrick Mining in the fourth quarter valued at $25,000. JPL Wealth Management LLC purchased a new stake in shares of Barrick Mining in the third quarter valued at $28,000. Laurel Wealth Advisors LLC acquired a new position in Barrick Mining in the fourth quarter valued at $30,000. Finally, Pin Oak Investment Advisors Inc. acquired a new position in Barrick Mining in the third quarter valued at $31,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on B shares. ATB Cormark Capital Markets lowered Barrick Mining from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Barclays began coverage on Barrick Mining in a research note on Thursday. They issued an “equal weight” rating and a $41.00 target price for the company. JPMorgan Chase & Co. began coverage on Barrick Mining in a report on Thursday, January 29th. They issued an “overweight” rating and a $68.00 price target for the company. Canadian Imperial Bank of Commerce reduced their price target on Barrick Mining to $63.00 and set an “outperformer” rating for the company in a report on Tuesday, April 21st. Finally, Canaccord Genuity Group reduced their target price on Barrick Mining to $77.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.46.

Barrick Mining Stock Down 0.1%

B opened at $40.64 on Tuesday. Barrick Mining Corporation has a 12 month low of $18.58 and a 12 month high of $54.69. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.06 and a quick ratio of 2.44. The stock has a market cap of $68.10 billion, a P/E ratio of 11.23, a P/E/G ratio of 1.10 and a beta of 0.41. The stock’s 50 day moving average price is $41.18 and its 200 day moving average price is $43.40.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, beating the consensus estimate of $0.80 by $0.18. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The firm had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.75 billion. Barrick Mining’s quarterly revenue was up 66.7% on a year-over-year basis. As a group, research analysts predict that Barrick Mining Corporation will post 3.7 earnings per share for the current year.

Barrick Mining Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders 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 annualized dividend and a dividend yield of 1.7%. Barrick Mining’s dividend payout ratio (DPR) is 46.41%.

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.