D.A. Davidson & CO. Trims Stock Holdings in Barrick Mining Corporation $B

Key Points

• D.A. Davidson & CO. cut its Barrick Mining stake by 33.1% in the first quarter, selling 35,274 shares and leaving it with 71,296 shares worth about $2.9 million.
• Barrick Mining reported strong quarterly earnings of $0.98 EPS, beating estimates, though revenue of $4.11 billion fell short of expectations despite being up 66.7% year over year.
• Analyst sentiment remains moderately bullish, with an average price target of $53.85; the stock also pays a 2.0% dividend yield after a recent quarterly dividend of $0.175 per share.

D.A. Davidson & CO. lowered its holdings in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 33.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,296 shares of the gold and copper producer's stock after selling 35,274 shares during the period. D.A. Davidson & CO.'s holdings in Barrick Mining were worth $2,908,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Westside Investment Management Inc. purchased a new position in Barrick Mining in the 4th quarter valued at approximately $25,000. Financial Consulate Inc. lifted its position in shares of Barrick Mining by 1,042.0% during the fourth quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer's stock worth $25,000 after acquiring an additional 521 shares in the last quarter. Intesa Sanpaolo Wealth Management bought a new position in shares of Barrick Mining in the fourth quarter worth $26,000. Ascentis Independent Advisors bought a new position in shares of Barrick Mining in the first quarter worth $28,000. Finally, Laurel Wealth Advisors LLC purchased a new position in shares of Barrick Mining in the fourth quarter valued at $30,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Mining Trading Down 0.0%

Barrick Mining stock opened at $34.93 on Monday. The stock has a market cap of $58.10 billion, a P/E ratio of 9.65, a PEG ratio of 0.76 and a beta of 0.48. Barrick Mining Corporation has a fifty-two week low of $20.68 and a fifty-two week high of $54.69. The firm's fifty day moving average price is $39.63 and its 200-day moving average price is $43.00. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.44 and a current ratio of 3.06.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its quarterly earnings data on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.18. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The company had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.75 billion. The company's quarterly revenue was up 66.7% compared to the same quarter last year. Equities research analysts forecast that Barrick Mining Corporation will post 3.61 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were issued a $0.175 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.70 annualized dividend and a dividend yield of 2.0%. Barrick Mining's dividend payout ratio (DPR) is presently 19.34%.

Wall Street Analysts Forecast Growth

B has been the topic of a number of analyst reports. ATB Cormark Capital Markets lowered Barrick Mining from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 7th. Citigroup restated a "positive" rating on shares of Barrick Mining in a research note on Wednesday. Barclays reduced their target price on Barrick Mining from $41.00 to $39.00 and set an "equal weight" rating for the company in a report on Wednesday. Weiss Ratings cut Barrick Mining from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, May 11th. Finally, Bank of America lowered their price target on shares of Barrick Mining from $58.00 to $56.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $53.85.

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.

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