Gabelli Funds LLC Sells 48,651 Shares of Barrick Mining Corporation $B

Gabelli Funds LLC cut its holdings in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 3.9% during the 4th quarter, Holdings Channel reports. The fund owned 1,208,565 shares of the gold and copper producer’s stock after selling 48,651 shares during the period. Gabelli Funds LLC’s holdings in Barrick Mining were worth $52,633,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Westside Investment Management Inc. bought a new position in Barrick Mining in the fourth quarter worth approximately $25,000. Financial Consulate Inc. raised its position in Barrick Mining by 1,042.0% in the fourth quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock worth $25,000 after acquiring an additional 521 shares during the period. Laurel Wealth Advisors LLC bought a new position in Barrick Mining in the fourth quarter worth approximately $30,000. Lodestone Wealth Management LLC bought a new position in Barrick Mining in the fourth quarter worth approximately $35,000. Finally, Nisa Investment Advisors LLC bought a new position in Barrick Mining in the fourth quarter worth approximately $35,000. 90.82% of the stock is currently owned by institutional investors.

Barrick Mining Stock Down 0.0%

Shares of B stock opened at $40.60 on Monday. The company has a market capitalization of $68.02 billion, a price-to-earnings ratio of 11.21, a PEG ratio of 1.18 and a beta of 0.41. Barrick Mining Corporation has a one year low of $17.41 and a one year high of $54.69. The company’s fifty day moving average price is $41.77 and its 200-day moving average price is $43.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.06 and a quick ratio of 2.44.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings data 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. The firm had revenue of $4.11 billion for 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%. Barrick Mining’s revenue was up 66.7% compared to the same quarter last year. Sell-side analysts expect that Barrick Mining Corporation will post 3.67 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

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

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. DZ Bank upgraded shares of Barrick Mining to a “strong-buy” rating in a research report on Monday, January 19th. Canadian Imperial Bank of Commerce decreased their price objective on shares of Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a research report on Tuesday, April 21st. JPMorgan Chase & Co. started coverage on shares of Barrick Mining in a research report on Thursday, January 29th. They set an “overweight” rating and a $68.00 price objective on the stock. Canaccord Genuity Group decreased their price objective on shares of Barrick Mining to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, February 18th. Finally, UBS Group raised their price objective on shares of Barrick Mining from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.50.

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.