Gabelli Funds LLC Reduces Position in Barrick Mining Corporation $B

Key Points

• Gabelli Funds LLC cut its stake in Barrick Mining by 7.4% in the first quarter, selling 90,000 shares and ending with 1,118,565 shares worth about $45.6 million.
• Institutional ownership remains high, with investors holding about 90.82% of Barrick’s stock. Several other funds also made small increases in their positions during recent quarters.
• Analysts remain broadly constructive despite some caution: Barrick has a Moderate Buy consensus rating and an average price target of $52.46, though a few firms recently lowered targets or downgraded the stock.

Gabelli Funds LLC trimmed its holdings in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 7.4% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 1,118,565 shares of the gold and copper producer's stock after selling 90,000 shares during the quarter. Gabelli Funds LLC owned about 0.07% of Barrick Mining worth $45,626,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Bogart Wealth LLC boosted its holdings in Barrick Mining by 3.5% in 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 last quarter. Parvin Asset Management LLC raised its stake in Barrick Mining by 0.7% during the 4th quarter. Parvin Asset Management LLC now owns 33,385 shares of the gold and copper producer's stock valued at $1,454,000 after buying an additional 225 shares during the last quarter. Silver Oak Securities Incorporated lifted its holdings in shares of Barrick Mining by 2.9% during the 1st quarter. Silver Oak Securities Incorporated now owns 8,810 shares of the gold and copper producer's stock valued at $359,000 after buying an additional 246 shares during the period. Mmbg Investment Advisors CO. lifted its holdings in shares of Barrick Mining by 0.6% during the 4th quarter. Mmbg Investment Advisors CO. now owns 43,454 shares of the gold and copper producer's stock valued at $1,892,000 after buying an additional 254 shares during the period. Finally, S.A. Mason LLC boosted its stake in shares of Barrick Mining by 1.3% in the 4th quarter. S.A. Mason LLC now owns 23,114 shares of the gold and copper producer's stock worth $1,007,000 after buying an additional 300 shares during the last quarter. Institutional investors own 90.82% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on B shares. Citigroup reiterated a "positive" rating on shares of Barrick Mining in a research report on Wednesday, July 15th. Weiss Ratings downgraded Barrick Mining from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, May 11th. UBS Group reduced their price target on shares of Barrick Mining from $54.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday, June 30th. ATB Cormark Capital Markets cut shares of Barrick Mining from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 7th. Finally, Wall Street Zen downgraded shares of Barrick Mining from a "strong-buy" rating to a "buy" rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $52.46.

Key Stories Impacting Barrick Mining

Here are the key news stories impacting Barrick Mining this week:

• Positive Sentiment: Gold’s strength and expectations for continued central bank buying are keeping Barrick in the spotlight as investors look for miners that can benefit from higher bullion prices. Experts recommend buying gold and silver! Barrick Mining, Newmont, First Majestic Silver, and Desert Gold in focus
• Positive Sentiment: Analysts and commentators continue to highlight Barrick as a potential beneficiary of a gold breakout, with some suggesting the stock could reflect bullion’s strength if prices stay elevated. Can Barrick Mining NYSE: B Reflect Gold's Strength as Bullion Keeps Firm This Week?
• Positive Sentiment: Barrick announced an exploration program with Midland on the Lewis gold project, adding to the company’s growth pipeline and reinforcing its exploration footprint. Midland, in Partnership with Barrick, Commences an Exploration Program for Gold on the Lewis Project
• Positive Sentiment: Barrick also bought a 10% stake in Kingfisher Metals, a move that signals continued interest in securing optionality on prospective mining assets. Barrick Mining Buys 10% Stake in Kingfisher Metals for C$20.9 Million
• Neutral Sentiment: Broader market commentary says investors are rotating into gold and silver miners, but this is more of a sector call than a Barrick-specific catalyst. Gold price above USD 4,000 and central bank rally: Barrick Mining, Lahontan Gold, Newmont—time to buy now?
• Neutral Sentiment: Barrick said it supports local content rules, a policy stance that may help relationships with host governments but is not an immediate earnings driver. Barrick supports local content rules
• Negative Sentiment: A valuation article argues Barrick may be about 15% overvalued on cash flow concerns, suggesting some investors may worry the stock has outpaced fundamentals. Barrick (B) Stock May Be 15% Overvalued On Cash Flow Concerns
• Negative Sentiment: JPMorgan reportedly lowered its price target on Barrick to $50, which can signal more cautious expectations from analysts. JPMorgan Chase & Co. Lowers Barrick Mining NYSE: B Price Target to $50.00

Barrick Mining Price Performance

B stock opened at $37.12 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.44 and a current ratio of 3.06. The company's fifty day moving average price is $38.86 and its 200-day moving average price is $42.76. Barrick Mining Corporation has a one year low of $20.94 and a one year high of $54.69. The company has a market capitalization of $61.74 billion, a PE ratio of 10.25, a price-to-earnings-growth ratio of 0.79 and a beta of 0.48.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last announced its quarterly earnings results on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.18. The company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.75 billion. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. The firm's quarterly revenue was up 66.7% on a year-over-year basis. On average, equities analysts anticipate that Barrick Mining Corporation will post 3.56 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were given a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Friday, May 29th. Barrick Mining's payout ratio is currently 19.34%.

Barrick Mining Company 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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