Magnetar Financial LLC Has $4.34 Million Position in Barrick Mining Corporation $B

Magnetar Financial LLC lowered its holdings in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 30.8% during the fourth quarter, Holdings Channel reports. The firm owned 99,741 shares of the gold and copper producer’s stock after selling 44,410 shares during the period. Magnetar Financial LLC’s holdings in Barrick Mining were worth $4,344,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Financial Consulate Inc. raised its holdings in shares of Barrick Mining by 1,042.0% during the 4th quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock valued at $25,000 after purchasing an additional 521 shares in the last quarter. Westside Investment Management Inc. bought a new position in shares of Barrick Mining during the 4th quarter valued at $25,000. Intesa Sanpaolo Wealth Management bought a new position in shares of Barrick Mining during the 4th quarter valued at $26,000. JPL Wealth Management LLC bought a new position in shares of Barrick Mining during the 3rd quarter valued at $28,000. Finally, Laurel Wealth Advisors LLC bought a new position in shares of Barrick Mining during the 4th quarter valued at $30,000. Institutional investors own 90.82% of the company’s stock.

Barrick Mining Stock Performance

NYSE:B opened at $42.84 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.44 and a current ratio of 3.06. The firm’s 50-day moving average is $41.54 and its 200-day moving average is $43.91. Barrick Mining Corporation has a 52-week low of $20.35 and a 52-week high of $54.69. The company has a market cap of $71.27 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 1.19 and a beta of 0.44.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its 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. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.75 billion. Barrick Mining’s revenue for the quarter was up 66.7% on a year-over-year basis. Equities research analysts anticipate that Barrick Mining Corporation will post 3.78 earnings per share for the current year.

Barrick Mining Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, May 29th. Barrick Mining’s payout ratio is 19.34%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. UBS Group raised their price target on shares of Barrick Mining from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Barclays began coverage on shares of Barrick Mining in a report on Thursday, May 21st. They issued an “equal weight” rating and a $41.00 target price on the stock. ATB Cormark Capital Markets downgraded shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. Canadian Imperial Bank of Commerce dropped their target price on shares of Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a report on Tuesday, April 21st. Finally, Canaccord Genuity Group dropped their target price on shares of Barrick Mining to $77.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. One equities research 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. According to data from MarketBeat.com, the stock has a consensus 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.