US Bancorp DE Lowers Stake in Barrick Mining Corporation (NYSE:B)

US Bancorp DE cut its holdings in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 23.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 29,931 shares of the gold and copper producer’s stock after selling 8,938 shares during the period. US Bancorp DE’s holdings in Barrick Mining were worth $582,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Envestnet Asset Management Inc. raised its position in shares of Barrick Mining by 1.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 702,023 shares of the gold and copper producer’s stock worth $10,881,000 after purchasing an additional 11,662 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Barrick Mining during the 4th quarter worth approximately $19,505,000. Sterling Capital Management LLC purchased a new stake in Barrick Mining during the 4th quarter worth approximately $162,000. Rockefeller Capital Management L.P. raised its holdings in shares of Barrick Mining by 3.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 472,060 shares of the gold and copper producer’s stock valued at $7,317,000 after acquiring an additional 13,897 shares during the last quarter. Finally, Townsquare Capital LLC lifted its position in shares of Barrick Mining by 0.3% in the fourth quarter. Townsquare Capital LLC now owns 285,355 shares of the gold and copper producer’s stock valued at $4,423,000 after acquiring an additional 952 shares in the last quarter. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Barrick Mining Stock Down 2.5%

Shares of NYSE B opened at $22.84 on Tuesday. The company has a market capitalization of $38.96 billion, a P/E ratio of 17.17, a P/E/G ratio of 0.36 and a beta of 0.27. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.87 and a quick ratio of 2.16. The company has a 50 day simple moving average of $21.23 and a 200-day simple moving average of $19.49. Barrick Mining Corporation has a 1 year low of $15.11 and a 1 year high of $23.53.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings data on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.47. The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.60 billion. Barrick Mining had a net margin of 17.46% and a return on equity of 7.51%. Barrick Mining’s revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.32 EPS. On average, equities research analysts predict that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. CIBC upgraded Barrick Mining to an “outperform” rating in a research report on Tuesday. Royal Bank Of Canada set a $26.00 target price on shares of Barrick Mining and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Scotiabank increased their target price on shares of Barrick Mining from $20.00 to $22.00 and gave the company a “sector perform” rating in a research report on Monday, April 14th. Wall Street Zen lowered shares of Barrick Mining from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, BMO Capital Markets started coverage on shares of Barrick Mining in a research note on Wednesday, April 16th. They set a “market perform” rating for the company. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $24.41.

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.