Hsbc Holdings PLC Sells 1,348,062 Shares of Barrick Mining Corporation $B

Hsbc Holdings PLC lowered its position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 52.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,202,437 shares of the gold and copper producer’s stock after selling 1,348,062 shares during the quarter. Hsbc Holdings PLC’s holdings in Barrick Mining were worth $52,679,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Capital International Investors boosted its stake in shares of 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 worth $3,340,709,000 after purchasing an additional 26,921,219 shares during the period. Van ECK Associates Corp lifted its stake in Barrick Mining by 22.8% in the fourth quarter. Van ECK Associates Corp now owns 55,423,240 shares of the gold and copper producer’s stock worth $2,413,699,000 after purchasing an additional 10,287,544 shares during the last quarter. FIL Ltd lifted its stake in Barrick Mining by 85.3% in the fourth quarter. FIL Ltd now owns 30,099,422 shares of the gold and copper producer’s stock worth $1,311,169,000 after purchasing an additional 13,853,587 shares during the last quarter. Mackenzie Financial Corp boosted its position in shares of Barrick Mining by 61.9% during the fourth quarter. Mackenzie Financial Corp now owns 20,591,745 shares of the gold and copper producer’s stock valued at $909,104,000 after buying an additional 7,870,411 shares during the period. Finally, TD Asset Management Inc boosted its position in shares of Barrick Mining by 5.6% during the fourth quarter. TD Asset Management Inc now owns 20,395,667 shares of the gold and copper producer’s stock valued at $889,627,000 after buying an additional 1,086,332 shares during the period. Institutional investors own 90.82% of the company’s stock.

Barrick Mining Stock Performance

Shares of NYSE:B opened at $38.13 on Wednesday. The firm has a market cap of $63.43 billion, a PE ratio of 10.53, a price-to-earnings-growth ratio of 1.14 and a beta of 0.44. The firm’s 50 day simple moving average is $41.33 and its 200-day simple moving average is $43.87. Barrick Mining Corporation has a one year low of $20.35 and a one year high of $54.69. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.44 and a current ratio of 3.06.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings results on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.18. The firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.75 billion. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. The company’s quarterly revenue was up 66.7% compared to the same quarter last year. As a group, equities analysts predict that Barrick Mining Corporation will post 3.78 EPS for the current year.

Barrick Mining Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were given a dividend of $0.175 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.70 dividend on an annualized basis and a yield of 1.8%. Barrick Mining’s payout ratio is 19.34%.

Wall Street Analyst Weigh In

B has been the topic of several recent analyst reports. Weiss Ratings downgraded Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Barclays assumed coverage on Barrick Mining in a report on Thursday, May 21st. They set an “equal weight” rating and a $41.00 price objective for the company. Canadian Imperial Bank of Commerce cut their price objective on Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a research report on Tuesday, April 21st. UBS Group increased their target price on Barrick Mining from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Finally, ATB Cormark Capital Markets downgraded Barrick Mining from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $53.46.

About Barrick Mining

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.