DAVENPORT & Co LLC Reduces Stock Position in Barrick Mining Corporation (NYSE:B)

DAVENPORT & Co LLC reduced its stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 14.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 72,039 shares of the gold and copper producer's stock after selling 11,998 shares during the quarter. DAVENPORT & Co LLC's holdings in Barrick Mining were worth $1,400,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of B. Crowley Wealth Management Inc. acquired a new position in Barrick Mining during the fourth quarter worth $26,000. Nexus Investment Management ULC purchased a new stake in shares of Barrick Mining in the first quarter valued at $32,000. Vega Investment Solutions purchased a new stake in Barrick Mining during the fourth quarter valued at about $31,000. MassMutual Private Wealth & Trust FSB grew its position in Barrick Mining by 55.8% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 2,193 shares of the gold and copper producer's stock valued at $43,000 after acquiring an additional 785 shares during the period. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Barrick Mining during the fourth quarter valued at about $37,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Mining Trading Down 4.2%

Shares of NYSE:B traded down $0.91 during mid-day trading on Tuesday, reaching $20.69. 6,923,639 shares of the company's stock were exchanged, compared to its average volume of 3,891,581. The firm has a market capitalization of $35.47 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 0.34 and a beta of 0.28. The business's fifty day moving average price is $19.79 and its 200-day moving average price is $18.46. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.16 and a current ratio of 2.87. Barrick Mining Corporation has a twelve month low of $17.41 and a twelve month high of $47.50.

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

Barrick Mining Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend was Friday, May 30th. Barrick Mining's dividend payout ratio (DPR) is presently 30.08%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on B shares. Scotiabank boosted their price objective on Barrick Mining from $20.00 to $22.00 and gave the stock a "sector perform" rating in a research note on Monday, April 14th. CIBC upped their price objective on Barrick Mining from $22.00 to $24.00 and gave the company a "neutral" rating in a research note on Wednesday, June 11th. Citigroup lowered their target price on Barrick Mining from $21.00 to $17.00 and set a "neutral" rating for the company in a report on Monday, March 31st. BMO Capital Markets assumed coverage on Barrick Mining in a report on Wednesday, April 16th. They issued a "market perform" rating for the company. Finally, Wall Street Zen raised Barrick Mining from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Barrick Mining presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.05.

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.