Oppenheimer Asset Management Inc. Lowers Holdings in Barrick Mining Corporation $B

Key Points

• Oppenheimer Asset Management trimmed its stake in Barrick by 12.7% in Q4, selling 33,211 shares and leaving 228,351 shares valued at about $9.95 million.
• Barrick beat Q4 estimates with $1.04 EPS (vs. $0.85 expected) and $5.98 billion revenue (vs. $5.15B expected), and the company raised its quarterly dividend to $0.42 (annualized $1.68, ~4.3% yield).
• Analysts rate Barrick a consensus "Moderate Buy" with an average target price of $54.17 (1 Strong Buy, 16 Buy, 4 Hold among covering analysts).

Oppenheimer Asset Management Inc. trimmed its holdings in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 12.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 228,351 shares of the gold and copper producer's stock after selling 33,211 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Barrick Mining were worth $9,945,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in B. Financial Consulate Inc. lifted its position in shares of Barrick Mining by 1,042.0% in the fourth quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer's stock valued at $25,000 after acquiring an additional 521 shares in the last quarter. Westside Investment Management Inc. bought a new stake in shares of Barrick Mining in the fourth quarter worth about $25,000. Arlington Trust Co LLC bought a new stake in shares of Barrick Mining in the third quarter worth about $26,000. JPL Wealth Management LLC bought a new stake in shares of Barrick Mining in the third quarter worth about $28,000. Finally, Laurel Wealth Advisors LLC bought a new stake in shares of Barrick Mining in the fourth quarter worth about $30,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on B. UBS Group lowered their price target on Barrick Mining from $55.00 to $50.00 and set a "buy" rating for the company in a report on Friday, March 27th. DZ Bank upgraded Barrick Mining to a "strong-buy" rating in a report on Monday, January 19th. Weiss Ratings restated a "buy (b)" rating on shares of Barrick Mining in a report on Friday, March 27th. Canadian Imperial Bank of Commerce lowered their target price on Barrick Mining to $63.00 and set an "outperformer" rating for the company in a report on Tuesday, April 21st. Finally, Citigroup upped their target price on Barrick Mining from $38.00 to $48.00 and gave the stock a "neutral" rating in a report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Barrick Mining presently has a consensus rating of "Moderate Buy" and an average target price of $54.17.

Barrick Mining Price Performance

NYSE B opened at $38.79 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 2.33. The stock's fifty day moving average price is $42.85 and its 200 day moving average price is $42.30. Barrick Mining Corporation has a 1 year low of $17.41 and a 1 year high of $54.69. The company has a market cap of $64.99 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 1.44 and a beta of 0.41.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last announced its quarterly earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.19. The company had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $5.15 billion. Barrick Mining had a return on equity of 12.10% and a net margin of 29.45%.Barrick Mining's quarterly revenue was up 44.6% compared to the same quarter last year. As a group, equities research analysts forecast that Barrick Mining Corporation will post 3.56 earnings per share for the current year.

Barrick Mining Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Friday, February 27th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $1.68 annualized dividend and a yield of 4.3%. This is an increase from Barrick Mining's previous quarterly dividend of $0.18. Barrick Mining's payout ratio is 57.34%.

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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