Oppenheimer Asset Management Inc. Reduces Holdings in Barrick Mining Corporation (NYSE:B)

Oppenheimer Asset Management Inc. lessened its stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 18.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 277,427 shares of the gold and copper producer's stock after selling 63,838 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Barrick Mining were worth $5,393,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Crowley Wealth Management Inc. acquired a new stake in shares of Barrick Mining in the fourth quarter valued at about $26,000. Vega Investment Solutions acquired a new position in Barrick Mining during the fourth quarter worth about $31,000. Nexus Investment Management ULC acquired a new position in Barrick Mining during the first quarter worth about $32,000. Strategic Investment Solutions Inc. IL acquired a new position in Barrick Mining during the fourth quarter worth about $37,000. Finally, Ameriflex Group Inc. acquired a new position in Barrick Mining during the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 90.82% of the company's stock.

Barrick Mining Stock Down 3.5%

B traded down $0.74 during trading hours on Friday, hitting $20.46. 12,865,342 shares of the company's stock were exchanged, compared to its average volume of 3,651,647. Barrick Mining Corporation has a 12-month low of $17.41 and a 12-month high of $47.50. The firm has a 50 day moving average of $19.58 and a 200 day moving average of $18.23. The firm has a market cap of $35.07 billion, a P/E ratio of 15.38, a price-to-earnings-growth ratio of 0.33 and a beta of 0.27. The company has a current ratio of 2.87, a quick ratio of 2.16 and a debt-to-equity ratio of 0.14.

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 EPS for the quarter, topping the consensus estimate of $0.29 by $0.06. Barrick Mining had a net margin of 17.46% and a return on equity of 7.51%. The company had revenue of $3 billion during the quarter, compared to analysts' expectations of $3.15 billion. During the same quarter in the previous year, the business posted $0.19 EPS. The firm's revenue was up 13.9% on a year-over-year basis. Analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders 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 1.96%. 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 equities analysts recently weighed in on the stock. Stifel Canada upgraded shares of Barrick Mining to a "strong-buy" rating in a research report on Wednesday, March 19th. Citigroup lowered their price target on shares of Barrick Mining from $21.00 to $17.00 and set a "neutral" rating on the stock in a research report on Monday, March 31st. UBS Group boosted their price target on shares of Barrick Mining from $22.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. National Bank Financial raised shares of Barrick Mining to a "hold" rating in a research note on Friday, March 21st. Finally, Raymond James Financial increased their price target on shares of Barrick Mining from $23.00 to $23.50 and gave the company an "outperform" rating in a research note on Monday, March 31st. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.05.

Barrick Mining Profile

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.