Cannell & Spears LLC grew its holdings in shares of Barrick Mining Corporation (NYSE:B – Free Report) (TSE:ABX) by 2.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,427,662 shares of the gold and copper producer’s stock after purchasing an additional 30,732 shares during the quarter. Barrick Mining comprises about 1.2% of Cannell & Spears LLC’s investment portfolio, making the stock its 23rd biggest position. Cannell & Spears LLC’s holdings in Barrick Mining were worth $58,227,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of B. Westside Investment Management Inc. bought a new stake in Barrick Mining in the fourth quarter worth $25,000. Financial Consulate Inc. raised its holdings in Barrick Mining by 1,042.0% during the fourth quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock valued at $25,000 after buying an additional 521 shares in the last quarter. Intesa Sanpaolo Wealth Management acquired a new stake in shares of Barrick Mining in the fourth quarter worth about $26,000. Ascentis Independent Advisors acquired a new stake in shares of Barrick Mining in the first quarter worth about $28,000. Finally, Laurel Wealth Advisors LLC bought a new stake in shares of Barrick Mining during the 4th quarter worth about $30,000. Institutional investors and hedge funds own 90.82% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on B shares. Bank of America lowered their price objective on Barrick Mining from $58.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Scotiabank reduced their target price on Barrick Mining from $63.00 to $57.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. Citigroup reiterated a “positive” rating on shares of Barrick Mining in a report on Wednesday, July 15th. Barclays dropped their price target on shares of Barrick Mining from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 15th. Finally, Royal Bank Of Canada reduced their price objective on shares of Barrick Mining from $51.00 to $49.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.46.
Key Headlines Impacting Barrick Mining
Here are the key news stories impacting Barrick Mining this week:
- Positive Sentiment: Gold’s strength and expectations for continued central bank buying are keeping Barrick in the spotlight as investors look for miners that can benefit from higher bullion prices. Experts recommend buying gold and silver! Barrick Mining, Newmont, First Majestic Silver, and Desert Gold in focus
- Positive Sentiment: Analysts and commentators continue to highlight Barrick as a potential beneficiary of a gold breakout, with some suggesting the stock could reflect bullion’s strength if prices stay elevated. Can Barrick Mining (NYSE:B) Reflect Gold’s Strength as Bullion Keeps Firm This Week?
- Positive Sentiment: Barrick announced an exploration program with Midland on the Lewis gold project, adding to the company’s growth pipeline and reinforcing its exploration footprint. Midland, in Partnership with Barrick, Commences an Exploration Program for Gold on the Lewis Project
- Positive Sentiment: Barrick also bought a 10% stake in Kingfisher Metals, a move that signals continued interest in securing optionality on prospective mining assets. Barrick Mining Buys 10% Stake in Kingfisher Metals for C$20.9 Million
- Neutral Sentiment: Broader market commentary says investors are rotating into gold and silver miners, but this is more of a sector call than a Barrick-specific catalyst. Gold price above USD 4,000 and central bank rally: Barrick Mining, Lahontan Gold, Newmont—time to buy now?
- Neutral Sentiment: Barrick said it supports local content rules, a policy stance that may help relationships with host governments but is not an immediate earnings driver. Barrick supports local content rules
- Negative Sentiment: A valuation article argues Barrick may be about 15% overvalued on cash flow concerns, suggesting some investors may worry the stock has outpaced fundamentals. Barrick (B) Stock May Be 15% Overvalued On Cash Flow Concerns
- Negative Sentiment: JPMorgan reportedly lowered its price target on Barrick to $50, which can signal more cautious expectations from analysts. JPMorgan Chase & Co. Lowers Barrick Mining (NYSE:B) Price Target to $50.00
Barrick Mining Price Performance
NYSE B opened at $37.12 on Friday. The stock has a 50-day simple moving average of $38.86 and a 200 day simple moving average of $42.76. Barrick Mining Corporation has a twelve month low of $20.94 and a twelve month high of $54.69. The stock has a market capitalization of $61.74 billion, a PE ratio of 10.25, a P/E/G ratio of 0.79 and a beta of 0.48. 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 released its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.18. The firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.75 billion. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The business’s revenue for the quarter was up 66.7% compared to the same quarter last year. Research analysts anticipate that Barrick Mining Corporation will post 3.56 EPS for the current year.
Barrick Mining Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were paid a $0.175 dividend. The ex-dividend date was Friday, May 29th. This represents a $0.70 annualized dividend and a dividend yield of 1.9%. Barrick Mining’s dividend payout ratio (DPR) is presently 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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