Barrick Mining Corporation (NYSE:B) Shares Sold by LPL Financial LLC

Key Points

• LPL Financial LLC reduced its holdings in Barrick Mining Corporation by 3.6% in the first quarter, now owning 633,127 shares valued at $12.3 million after selling 23,580 shares.
• Several analysts have given positive ratings for Barrick Mining, with target prices ranging from $25.00 to $28.00, indicating a general expectation of growth in the company's stock.
• Barrick Mining reported $0.35 earnings per share (EPS), exceeding forecasts, with a revenue increase of 13.9% year-over-year despite slightly missing revenue estimates.

LPL Financial LLC decreased its position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 3.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 633,127 shares of the gold and copper producer's stock after selling 23,580 shares during the quarter. LPL Financial LLC's holdings in Barrick Mining were worth $12,308,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Penserra Capital Management LLC grew its position in shares of Barrick Mining by 1,919.0% during the first quarter. Penserra Capital Management LLC now owns 2,968 shares of the gold and copper producer's stock worth $56,000 after buying an additional 2,821 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Barrick Mining by 14.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 73,636 shares of the gold and copper producer's stock worth $1,141,000 after buying an additional 9,149 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Barrick Mining by 24.4% during the first quarter. Sequoia Financial Advisors LLC now owns 20,795 shares of the gold and copper producer's stock worth $404,000 after buying an additional 4,082 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of Barrick Mining by 25.9% during the first quarter. Janney Montgomery Scott LLC now owns 291,281 shares of the gold and copper producer's stock worth $5,663,000 after buying an additional 59,906 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Barrick Mining during the fourth quarter worth approximately $19,505,000. Institutional investors and hedge funds own 90.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Royal Bank Of Canada set a $26.00 price objective on Barrick Mining and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. UBS Group raised their target price on Barrick Mining from $22.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Wall Street Zen upgraded shares of Barrick Mining from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 5th. BMO Capital Markets assumed coverage on shares of Barrick Mining in a research report on Wednesday, April 16th. They issued a "market perform" rating on the stock. Finally, CIBC boosted their target price on shares of Barrick Mining from $24.00 to $28.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $24.41.

Barrick Mining Price Performance

Shares of B opened at $23.12 on Friday. The business's 50-day moving average is $21.09 and its 200-day moving average is $19.34. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.87 and a quick ratio of 2.16. Barrick Mining Corporation has a fifty-two week low of $15.11 and a fifty-two week high of $23.41. The company has a market capitalization of $39.44 billion, a price-to-earnings ratio of 17.38, a P/E/G ratio of 0.35 and a beta of 0.27.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last announced its earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.06. Barrick Mining had a net margin of 17.46% and a return on equity of 7.51%. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the previous year, the firm posted $0.19 earnings per share. Barrick Mining's revenue was up 13.9% compared to the same quarter last year. Equities research analysts expect that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

About Barrick Mining

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.   In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.