Barrick Mining Corporation $B Stake Reduced by Lafayette Investments Inc.

Lafayette Investments Inc. cut its stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 25.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 245,333 shares of the gold and copper producer’s stock after selling 83,202 shares during the period. Barrick Mining accounts for approximately 2.0% of Lafayette Investments Inc.’s investment portfolio, making the stock its 11th largest holding. Lafayette Investments Inc.’s holdings in Barrick Mining were worth $10,007,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. CW Advisors LLC acquired a new stake in shares of Barrick Mining in the 2nd quarter worth about $283,000. EverSource Wealth Advisors LLC bought a new stake in Barrick Mining in the 2nd quarter valued at about $53,000. First Trust Advisors LP acquired a new position in Barrick Mining during the 2nd quarter valued at about $857,000. Baird Financial Group Inc. acquired a new position in Barrick Mining during the 2nd quarter valued at about $2,569,000. Finally, Cresset Asset Management LLC bought a new position in Barrick Mining in the 2nd quarter worth about $543,000. 90.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

B has been the topic of several analyst reports. UBS Group dropped their price target on shares of Barrick Mining from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday. Barclays began coverage on Barrick Mining in a research report on Thursday, May 21st. They set an “equal weight” rating and a $41.00 price objective for the company. ATB Cormark Capital Markets lowered Barrick Mining from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. Canadian Imperial Bank of Commerce lowered their target price on Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a research report on Tuesday, April 21st. Finally, Weiss Ratings downgraded Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.15.

Barrick Mining Stock Performance

Shares of B opened at $38.22 on Friday. The firm has a market capitalization of $63.57 billion, a PE ratio of 10.56, a P/E/G ratio of 1.09 and a beta of 0.48. The company has a quick ratio of 2.44, a current ratio of 3.06 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $40.47 and a 200 day moving average price of $43.60. Barrick Mining Corporation has a 52-week low of $20.52 and a 52-week high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings results on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.18. The company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.75 billion. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. Barrick Mining’s revenue for the quarter was up 66.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Barrick Mining Corporation will post 3.78 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Friday, May 29th. Barrick Mining’s dividend payout ratio (DPR) is currently 19.34%.

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.