US Bancorp DE Sells 8,938 Shares of Barrick Mining Corporation (NYSE:B)

US Bancorp DE decreased its position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 23.0% during the first quarter, according to the company in its most recent filing with the Securities and 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nexus Investment Management ULC purchased a new stake in shares of Barrick Mining during the first quarter worth about $32,000. Vega Investment Solutions bought a new position in Barrick Mining in the 4th quarter worth approximately $31,000. MassMutual Private Wealth & Trust FSB grew its holdings in Barrick Mining by 55.8% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 2,193 shares of the gold and copper producer’s stock valued at $43,000 after buying an additional 785 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in Barrick Mining during the 4th quarter valued at approximately $37,000. Finally, Ameriflex Group Inc. bought a new stake in shares of Barrick Mining during the fourth quarter valued at approximately $39,000. Institutional investors own 90.82% of the company’s stock.

Barrick Mining Price Performance

Shares of B stock opened at $22.84 on Tuesday. Barrick Mining Corporation has a fifty-two week low of $15.11 and a fifty-two week high of $23.53. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.16 and a current ratio of 2.87. The firm has a market capitalization of $38.96 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 0.36 and a beta of 0.27. The stock’s 50-day simple moving average is $21.23 and its 200-day simple moving average is $19.49.

Barrick Mining (NYSE:B) (TSE:ABX) last released its earnings results 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 the consensus estimate of $3.60 billion. Barrick Mining had a return on equity of 7.51% and a net margin of 17.46%. The firm’s revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.32 EPS. As a group, equities analysts forecast that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on B shares. Wall Street Zen downgraded Barrick Mining from a “strong-buy” rating to a “buy” rating in a research note on Saturday. BMO Capital Markets assumed coverage on Barrick Mining in a research note on Wednesday, April 16th. They set a “market perform” rating on the stock. Scotiabank raised their price objective on Barrick Mining from $20.00 to $22.00 and gave the company a “sector perform” rating in a research note on Monday, April 14th. CIBC upgraded Barrick Mining to an “outperform” rating in a report on Tuesday. Finally, Royal Bank Of Canada set a $26.00 price target on Barrick Mining and gave the company an “outperform” rating in a report on Wednesday, July 2nd. Six investment 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, the company currently has an average rating of “Moderate Buy” and an average target price of $24.41.

About Barrick Mining

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.