Profund Advisors LLC Cuts Holdings in Barrick Mining Corporation $B

Profund Advisors LLC trimmed its position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 17.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 173,337 shares of the gold and copper producer’s stock after selling 37,124 shares during the quarter. Profund Advisors LLC’s holdings in Barrick Mining were worth $7,549,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quadrature Capital Ltd lifted its position in Barrick Mining by 113.2% during 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 during the last quarter. CIBC Asset Management Inc increased its holdings in shares of 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 buying an additional 13,891,886 shares during the last quarter. BlueCrest Capital Management Ltd bought a new stake in shares of Barrick Mining in the 3rd quarter worth about $1,889,000. Picton Mahoney Asset Management raised its position in shares of Barrick Mining by 1,673.9% during the 3rd 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 in the last quarter. Finally, WINTON GROUP Ltd bought a new position in shares of Barrick Mining in the 3rd quarter valued at about $12,739,000. 90.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. JPMorgan Chase & Co. started coverage on Barrick Mining in a research report on Thursday, January 29th. They issued an “overweight” rating and a $68.00 price target for the company. Weiss Ratings lowered Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. UBS Group lifted their target price on Barrick Mining from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. ATB Cormark Capital Markets lowered Barrick Mining from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. Finally, Citigroup raised their price target on Barrick Mining from $38.00 to $48.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Barrick Mining presently has a consensus rating of “Moderate Buy” and an average target price of $54.50.

Barrick Mining Stock Performance

Barrick Mining stock opened at $40.61 on Tuesday. 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 firm has a market capitalization of $68.04 billion, a P/E ratio of 11.22, a price-to-earnings-growth ratio of 1.18 and a beta of 0.41. Barrick Mining Corporation has a 1-year low of $17.95 and a 1-year high of $54.69. The company’s 50-day moving average is $41.67 and its 200 day moving average is $43.12.

Barrick Mining (NYSE:B) (TSE:ABX) last released its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, beating analysts’ consensus estimates 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. The business’s quarterly revenue was up 66.7% on a year-over-year basis. Research analysts forecast that Barrick Mining Corporation will post 3.67 EPS for the current year.

Barrick Mining Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be given a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, May 29th. Barrick Mining’s dividend payout ratio is 46.41%.

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.