Profund Advisors LLC Reduces Stake in Barrick Mining Corporation $B

Profund Advisors LLC lowered its position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 17.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 173,337 shares of the gold and copper producer’s stock after selling 37,124 shares during the period. Profund Advisors LLC’s holdings in Barrick Mining were worth $7,549,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of B. Gamco Investors INC. ET AL boosted its position in Barrick Mining by 4.2% in the fourth quarter. Gamco Investors INC. ET AL now owns 107,971 shares of the gold and copper producer’s stock worth $4,702,000 after purchasing an additional 4,356 shares during the last quarter. Soltis Investment Advisors LLC purchased a new stake in shares of Barrick Mining during the 4th quarter valued at about $251,000. Chancellor Financial Group WB LP purchased a new position in shares of Barrick Mining in the fourth quarter worth approximately $243,000. Burford Brothers Inc. purchased a new position in shares of Barrick Mining in the fourth quarter worth approximately $244,000. Finally, Hills Bank & Trust Co bought a new stake in Barrick Mining during the fourth quarter valued at approximately $105,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on B shares. DZ Bank upgraded shares of Barrick Mining to a “strong-buy” rating in a research report on Monday, January 19th. Canaccord Genuity Group cut their price objective on shares of Barrick Mining to $77.00 and set a “buy” rating for the company in a research report on Wednesday, February 18th. Canadian Imperial Bank of Commerce reduced their price objective on Barrick Mining to $63.00 and set an “outperformer” rating for the company in a research note on Tuesday, April 21st. UBS Group raised their target price on Barrick Mining from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Finally, Scotiabank boosted their price target on Barrick Mining from $43.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Barrick Mining currently has an average rating of “Moderate Buy” and a consensus target price of $54.50.

Barrick Mining Price Performance

Shares of NYSE:B opened at $40.61 on Tuesday. The company has a market capitalization of $68.04 billion, a P/E ratio of 11.22, a P/E/G ratio of 1.18 and a beta of 0.41. Barrick Mining Corporation has a 1-year low of $17.95 and a 1-year high of $54.69. The firm’s 50 day simple moving average is $41.67 and its two-hundred day simple moving average is $43.12. 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.18. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. The firm had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.75 billion. Barrick Mining’s revenue for the quarter was up 66.7% on a year-over-year basis. Research analysts expect that Barrick Mining Corporation will post 3.67 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

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