O Shaughnessy Asset Management LLC boosted its position in shares of Barrick Mining Corporation (NYSE:B – Free Report) (TSE:ABX) by 9.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 349,790 shares of the gold and copper producer’s stock after purchasing an additional 28,955 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Barrick Mining were worth $15,236,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in B. Capital International Investors increased its holdings in Barrick Mining by 35.9% during the 3rd quarter. Capital International Investors now owns 101,846,588 shares of the gold and copper producer’s stock worth $3,340,709,000 after purchasing an additional 26,921,219 shares in the last quarter. Ameriprise Financial Inc. bought a new position in Barrick Mining during the 2nd quarter worth about $211,263,000. Canada Pension Plan Investment Board bought a new position in Barrick Mining during the 2nd quarter worth about $172,230,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Barrick Mining by 664.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,013,464 shares of the gold and copper producer’s stock worth $295,977,000 after purchasing an additional 7,833,887 shares in the last quarter. Finally, Orbis Allan Gray Ltd bought a new position in shares of Barrick Mining in the 2nd quarter valued at about $131,221,000. Institutional investors own 90.82% of the company’s stock.
Analysts Set New Price Targets
B has been the subject of several analyst reports. Canadian Imperial Bank of Commerce decreased their price objective on Barrick Mining to $63.00 and set an “outperformer” rating for the company in a report on Tuesday, April 21st. UBS Group raised their price objective on Barrick Mining from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Canaccord Genuity Group decreased their price objective on Barrick Mining to $77.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. Barclays initiated coverage on Barrick Mining in a report on Thursday, May 21st. They issued an “equal weight” rating and a $41.00 price objective for the company. Finally, Weiss Ratings cut Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Barrick Mining presently has an average rating of “Moderate Buy” and a consensus target price of $53.46.
Barrick Mining Trading Down 0.9%
Shares of NYSE:B opened at $39.09 on Wednesday. Barrick Mining Corporation has a 52-week low of $19.94 and a 52-week high of $54.69. The company has a market capitalization of $65.03 billion, a P/E ratio of 10.80, a price-to-earnings-growth ratio of 1.12 and a beta of 0.44. The company has a 50-day simple moving average of $41.61 and a 200 day simple moving average of $43.85. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.44 and a current ratio of 3.06.
Barrick Mining (NYSE:B – Get Free Report) (TSE:ABX) last issued its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.18. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. The business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.75 billion. The firm’s revenue for the quarter was up 66.7% compared to the same quarter last year. Sell-side analysts forecast that Barrick Mining Corporation will post 3.78 earnings per share for the current year.
Barrick Mining Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be paid a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, May 29th. Barrick Mining’s dividend payout ratio (DPR) is 19.34%.
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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