Barrick Mining Corporation (NYSE:B) Position Cut by Deutsche Bank AG

Deutsche Bank AG lowered its position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 73.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,476,290 shares of the gold and copper producer’s stock after selling 4,055,821 shares during the period. Deutsche Bank AG’s holdings in Barrick Mining were worth $28,699,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Vega Investment Solutions acquired a new position in Barrick Mining during the 4th quarter worth $31,000. Nexus Investment Management ULC acquired a new stake in shares of Barrick Mining in the 1st quarter worth approximately $32,000. Cary Street Partners Investment Advisory LLC bought a new position in shares of Barrick Mining in the first quarter valued at approximately $32,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Barrick Mining during the fourth quarter valued at approximately $37,000. Finally, Ameriflex Group Inc. acquired a new position in shares of Barrick Mining during the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barrick Mining Trading Up 2.8%

Shares of NYSE B opened at $23.49 on Wednesday. The company has a quick ratio of 2.16, a current ratio of 3.21 and a debt-to-equity ratio of 0.14. Barrick Mining Corporation has a 12 month low of $15.11 and a 12 month high of $23.58. The company has a market cap of $40.07 billion, a price-to-earnings ratio of 14.77, a P/E/G ratio of 0.35 and a beta of 0.27. The business has a fifty day simple moving average of $21.29 and a 200-day simple moving average of $19.52.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings data on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.47. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%. The firm had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.60 billion. During the same quarter in the previous year, the company earned $0.32 EPS. The business’s revenue for the quarter was up 16.4% compared to the same quarter last year. Sell-side analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on B. CIBC upgraded Barrick Mining from a “neutral” rating to an “outperform” rating in a research report on Tuesday. Wall Street Zen lowered Barrick Mining from a “strong-buy” rating to a “buy” rating in a report on Saturday. Royal Bank Of Canada set a $26.00 target price on Barrick Mining and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. Finally, BMO Capital Markets started coverage on shares of Barrick Mining in a research report on Wednesday, April 16th. They issued a “market perform” rating on the stock. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Barrick Mining has an average rating of “Moderate Buy” and an average target price 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.