Letko Brosseau & Associates Inc. Sells 14,153 Shares of Barrick Mining Corporation $B

Letko Brosseau & Associates Inc. reduced its stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 0.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,688,864 shares of the gold and copper producer’s stock after selling 14,153 shares during the quarter. Barrick Mining accounts for approximately 1.9% of Letko Brosseau & Associates Inc.’s holdings, making the stock its 20th largest holding. Letko Brosseau & Associates Inc. owned about 0.23% of Barrick Mining worth $150,361,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Royal Bank of Canada boosted its holdings in Barrick Mining by 10.9% in the 1st quarter. Royal Bank of Canada now owns 39,598,520 shares of the gold and copper producer’s stock worth $1,615,225,000 after acquiring an additional 3,881,841 shares during the period. The Manufacturers Life Insurance Company grew its position in Barrick Mining by 1.2% in the first quarter. The Manufacturers Life Insurance Company now owns 14,992,792 shares of the gold and copper producer’s stock valued at $612,067,000 after acquiring an additional 175,342 shares in the last quarter. Ninety One UK Ltd grew its position in Barrick Mining by 13.1% in the third quarter. Ninety One UK Ltd now owns 14,143,606 shares of the gold and copper producer’s stock valued at $575,220,000 after acquiring an additional 1,640,224 shares in the last quarter. TD Waterhouse Canada Inc. raised its stake in shares of Barrick Mining by 4.4% during the third quarter. TD Waterhouse Canada Inc. now owns 7,400,867 shares of the gold and copper producer’s stock valued at $296,300,000 after purchasing an additional 313,297 shares during the period. Finally, Swiss National Bank raised its stake in shares of Barrick Mining by 25.9% during the first quarter. Swiss National Bank now owns 5,680,129 shares of the gold and copper producer’s stock valued at $231,788,000 after purchasing an additional 1,167,000 shares during the period. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Mining Price Performance

Shares of NYSE B opened at $37.88 on Friday. Barrick Mining Corporation has a fifty-two week low of $34.03 and a fifty-two week high of $54.69. The business has a 50 day moving average price of $40.95 and a two-hundred day moving average price of $41.78. The company has a quick ratio of 2.36, a current ratio of 2.73 and a debt-to-equity ratio of 0.12. The firm has a market cap of $61.70 billion, a PE ratio of 10.67, a price-to-earnings-growth ratio of 2.21 and a beta of 0.52.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings data on Monday, November 9th. The gold and copper producer reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.08. Barrick Mining had a return on equity of 16.65% and a net margin of 30.32%. The company had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $5.10 billion. During the same period in the previous year, the business earned $0.58 EPS. Barrick Mining’s revenue for the quarter was up 22.3% compared to the same quarter last year. Sell-side analysts expect that Barrick Mining Corporation will post 3.54 earnings per share for the current fiscal year.

Barrick Mining Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be paid a dividend of $0.1750 per share. This represents a $0.70 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Monday, November 30th. Barrick Mining’s dividend payout ratio is 17.86%.

Barrick Mining News Summary

Here’s some of the latest news about B:

• Positive Sentiment: Third-quarter earnings beat analyst estimates, supported by higher gold prices. B Q3 Earnings Beat Estimates on Higher Gold Prices, Sales Miss
• Negative Sentiment: Revenue missed expectations despite the earnings beat, while costs rose and production declined—pressuring margins and tempering the positive results. B Q3 Earnings Beat Estimates on Higher Gold Prices, Sales Miss
• Negative Sentiment: Barrick reportedly furloughed some workers at its Congo mine as an Ebola precaution. The measure raises potential operational concerns, though the report describes it as precautionary. Barrick Furloughs Some Employees at Congo Mine as Ebola Precaution

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. TD set a $59.00 target price on shares of Barrick Mining and gave the company a “buy” rating in a research note on Wednesday, September 16th. Citigroup raised their price target on shares of Barrick Mining from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, September 3rd. Sanford C. Bernstein dropped their price target on shares of Barrick Mining from $61.00 to $56.50 and set an “outperform” rating on the stock in a research note on Wednesday, September 9th. Canadian Imperial Bank of Commerce downgraded shares of Barrick Mining from a “sector outperform” rating to a “neutral” rating and dropped their price target for the stock from $57.00 to $49.00 in a research note on Friday, October 16th. Finally, Royal Bank Of Canada boosted their price objective on shares of Barrick Mining from $49.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, September 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.47.

Barrick Mining Company Profile

Barrick Mining Corporation, formerly known as Barrick Gold Corporation, is a global mining company focused primarily on the exploration, development and production of gold and copper. Its activities include operating mines, advancing development projects and managing mineral reserves across multiple jurisdictions. The company’s gold operations include Nevada Gold Mines in the United States, a joint venture in which Barrick is the operator, as well as mines and projects in Canada, the Dominican Republic, Mali, Côte d’Ivoire, Tanzania and the Democratic Republic of the Congo.