Jefferies Financial Group Inc. Reduces Holdings in Barrick Mining Corporation $B

Jefferies Financial Group Inc. decreased its holdings in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 64.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 108,838 shares of the gold and copper producer’s stock after selling 200,516 shares during the period. Jefferies Financial Group Inc.’s holdings in Barrick Mining were worth $4,740,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Bogart Wealth LLC lifted its holdings in shares of Barrick Mining by 3.5% during the fourth quarter. Bogart Wealth LLC now owns 6,442 shares of the gold and copper producer’s stock worth $281,000 after purchasing an additional 218 shares during the period. S.A. Mason LLC lifted its holdings in Barrick Mining by 1.3% in the fourth quarter. S.A. Mason LLC now owns 23,114 shares of the gold and copper producer’s stock valued at $1,007,000 after acquiring an additional 300 shares during the period. Sequoia Financial Advisors LLC raised its stake in shares of Barrick Mining by 1.0% during the 4th quarter. Sequoia Financial Advisors LLC now owns 31,212 shares of the gold and copper producer’s stock worth $1,359,000 after buying an additional 302 shares during the period. Legacy Financial Advisors Inc. raised its stake in shares of Barrick Mining by 3.9% during the 4th quarter. Legacy Financial Advisors Inc. now owns 8,569 shares of the gold and copper producer’s stock worth $373,000 after buying an additional 319 shares during the period. Finally, Linden Thomas Advisory Services LLC increased its stake in shares of Barrick Mining by 4.2% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 8,300 shares of the gold and copper producer’s stock worth $361,000 after purchasing an additional 332 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on B shares. Citigroup increased their price objective on Barrick Mining from $38.00 to $48.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. Canaccord Genuity Group cut their target price on Barrick Mining to $77.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th. UBS Group raised their price objective on Barrick Mining from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Barclays began coverage on Barrick Mining in a research report on Thursday. They set an “equal weight” rating and a $41.00 price objective for the company. Finally, Weiss Ratings cut Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Barrick Mining currently has a consensus rating of “Moderate Buy” and an average target price of $53.46.

Barrick Mining Price Performance

B stock opened at $40.64 on Tuesday. The stock has a market cap of $68.10 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 1.10 and a beta of 0.41. Barrick Mining Corporation has a fifty-two week low of $18.58 and a fifty-two week high of $54.69. The business has a 50 day moving average price of $41.18 and a 200 day moving average price of $43.40. The company has a quick ratio of 2.44, a current ratio of 3.06 and a debt-to-equity ratio of 0.13.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings results on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, topping the consensus estimate of $0.80 by $0.18. The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.75 billion. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The company’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 3.7 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

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

Barrick Mining Profile

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.