Lebenthal Global Advisors LLC Increases Stock Holdings in Barrick Mining Corporation $B

Lebenthal Global Advisors LLC increased its holdings in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 111.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 39,240 shares of the gold and copper producer’s stock after acquiring an additional 20,655 shares during the period. Lebenthal Global Advisors LLC’s holdings in Barrick Mining were worth $1,709,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in B. Capital International Investors lifted its stake in Barrick Mining by 35.9% in the third quarter. Capital International Investors now owns 101,846,588 shares of the gold and copper producer’s stock worth $3,340,709,000 after acquiring an additional 26,921,219 shares during the period. CIBC Asset Management Inc lifted its position in Barrick Mining by 316.0% during the third quarter. CIBC Asset Management Inc now owns 18,287,558 shares of the gold and copper producer’s stock valued at $601,115,000 after buying an additional 13,891,886 shares during the period. Ameriprise Financial Inc. purchased a new position in Barrick Mining during the second quarter valued at $211,263,000. Canada Pension Plan Investment Board purchased a new position in Barrick Mining during the second quarter valued at $172,230,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Barrick Mining by 664.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,013,464 shares of the gold and copper producer’s stock valued at $295,977,000 after buying an additional 7,833,887 shares during the period. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on B. Weiss Ratings reissued a “buy (b)” rating on shares of Barrick Mining in a research report on Friday, March 27th. Wall Street Zen raised Barrick Mining from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 7th. UBS Group lowered their price objective on Barrick Mining from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, March 27th. DZ Bank raised Barrick Mining to a “strong-buy” rating in a research report on Monday, January 19th. Finally, ATB Cormark Capital Markets lowered 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 assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Barrick Mining currently has a consensus rating of “Moderate Buy” and an average price target of $54.17.

Barrick Mining Price Performance

B opened at $40.19 on Friday. The stock has a 50-day moving average price of $43.67 and a 200-day moving average price of $42.08. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 2.33. The firm has a market cap of $67.35 billion, a PE ratio of 13.72, a P/E/G ratio of 1.52 and a beta of 0.50. Barrick Mining Corporation has a 1 year low of $17.41 and a 1 year high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.19. The firm had revenue of $5.98 billion during the quarter, compared to analyst estimates of $5.15 billion. Barrick Mining had a return on equity of 12.10% and a net margin of 29.45%.The company’s quarterly revenue was up 44.6% on a year-over-year basis. Sell-side analysts predict that Barrick Mining Corporation will post 3.61 earnings per share for the current fiscal year.

Barrick Mining Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Friday, February 27th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.2%. The ex-dividend date was Friday, February 27th. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.18. Barrick Mining’s dividend payout ratio is 57.34%.

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.