Gabelli Funds LLC Decreases Stock Holdings in Barrick Mining Corporation $B

Gabelli Funds LLC cut its stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 13.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,257,216 shares of the gold and copper producer’s stock after selling 188,600 shares during the period. Gabelli Funds LLC owned approximately 0.07% of Barrick Mining worth $41,199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp purchased a new position in Barrick Mining during the second quarter worth approximately $33,811,000. Huntington National Bank purchased a new stake in Barrick Mining in the 2nd quarter valued at $286,000. Moors & Cabot Inc. purchased a new stake in Barrick Mining in the 2nd quarter valued at $1,333,000. SouthState Corp acquired a new stake in shares of Barrick Mining in the 2nd quarter worth $1,949,000. Finally, Excalibur Management Corp acquired a new stake in shares of Barrick Mining in the 2nd quarter worth $340,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barrick Mining Stock Up 0.1%

Shares of NYSE:B opened at $45.40 on Friday. The company has a market capitalization of $76.06 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 1.42 and a beta of 0.41. Barrick Mining Corporation has a 12-month low of $17.00 and a 12-month high of $54.69. The business has a 50-day moving average price of $47.86 and a 200 day moving average price of $39.26. The company has a current ratio of 2.92, a quick ratio of 2.33 and a debt-to-equity ratio of 0.13.

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

Barrick Mining Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be issued a $0.42 dividend. The ex-dividend date is Friday, February 27th. This represents a $1.68 annualized dividend and a dividend yield of 3.7%. This is an increase from Barrick Mining’s previous quarterly dividend of $0.18. Barrick Mining’s dividend payout ratio (DPR) is currently 57.34%.

Analyst Ratings Changes

Several research analysts have recently weighed in on B shares. Cormark raised shares of Barrick Mining from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 11th. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $71.00 price objective on shares of Barrick Mining in a research report on Wednesday, February 4th. Jefferies Financial Group reiterated a “buy” rating and issued a $55.00 target price on shares of Barrick Mining in a report on Sunday, December 7th. Bank of America raised shares of Barrick Mining from a “neutral” rating to a “buy” rating and increased their price target for the company from $38.00 to $48.00 in a research note on Monday, November 24th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Barrick Mining in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Barrick Mining currently has an average rating of “Moderate Buy” and an average price target of $55.25.

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.