Great Diamond Partners LLC bought a new position in shares of Barrick Mining Corporation (NYSE:B – Free Report) (TSE:ABX) during the 4th quarter, HoldingsChannel reports. The firm bought 54,953 shares of the gold and copper producer’s stock, valued at approximately $2,393,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in B. Financial Consulate Inc. raised its position in shares of Barrick Mining by 1,042.0% in the fourth quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock worth $25,000 after buying an additional 521 shares in the last quarter. Westside Investment Management Inc. purchased a new stake in shares of Barrick Mining in the fourth quarter worth $25,000. JPL Wealth Management LLC purchased a new stake in shares of Barrick Mining in the third quarter worth $28,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Barrick Mining in the fourth quarter worth $30,000. Finally, Pin Oak Investment Advisors Inc. purchased a new stake in shares of Barrick Mining in the third quarter worth $31,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.
Barrick Mining Stock Up 3.7%
Shares of NYSE:B opened at $40.95 on Thursday. The stock’s 50-day moving average price is $41.45 and its 200-day moving average price is $43.22. Barrick Mining Corporation has a 12-month low of $18.41 and a 12-month high of $54.69. The stock has a market capitalization of $68.61 billion, a P/E ratio of 11.31, a price-to-earnings-growth ratio of 1.07 and a beta of 0.41. The company has a current ratio of 3.06, a quick ratio of 2.44 and a debt-to-equity ratio of 0.13.
Barrick Mining Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, May 29th. Barrick Mining’s dividend payout ratio is currently 46.41%.
Barrick Mining News Summary
Here are the key news stories impacting Barrick Mining this week:
- Positive Sentiment: RBC Capital reiterated its Buy rating on Barrick Mining, reinforcing the view that the company remains attractive relative to peers. RBC Capital Sticks to Their Buy Rating for Barrick Mining (B)
- Positive Sentiment: Another report highlighted Barrick as a fresh Buy idea, suggesting continued market support for the gold-and-copper producer. Barrick Mining (B): New Buy Recommendation for This Basic Materials Giant
- Positive Sentiment: Investors are also focused on Barrick’s reported IPO plan, which could help unlock shareholder value by highlighting the worth of parts of the business. Barrick Mining IPO Plan Highlights Valuation Gap And Investor Trade Offs
- Positive Sentiment: Bullish sector coverage continues to emphasize Barrick’s strong projects, rising cash flow potential, and resilience in a supportive gold-price environment. B vs. KGC: Which Gold Mining Stock Should You Bet on Now?
- Neutral Sentiment: Barrick is stepping up Ebola precautions at its Kibali mine in Congo; the company says there are no reported cases at the site, but the health measures could still raise operational watchfulness. Barrick steps up Ebola precautions at Kibali mine
- Neutral Sentiment: Recent commentary also noted Barrick’s Q1 production slip versus last year, although management appears to be targeting a second-quarter rebound. Barrick Mining’s Q1 Gold Production Slips: Will It Rebound in Q2?
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on B shares. Wall Street Zen upgraded Barrick Mining from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 7th. ATB Cormark Capital Markets cut Barrick Mining from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Canaccord Genuity Group reduced their target price on Barrick Mining to $77.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. Citigroup increased their target price on Barrick Mining from $38.00 to $48.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. Finally, Scotiabank increased their target price on Barrick Mining from $43.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $54.50.
About Barrick Mining
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.
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