Wealth High Governance Asset Management Ltda. raised its holdings in shares of Barrick Mining Corporation (NYSE:B – Free Report) (TSE:ABX) by 171.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 119,078 shares of the gold and copper producer’s stock after buying an additional 75,142 shares during the period. Barrick Mining comprises 1.7% of Wealth High Governance Asset Management Ltda.’s investment portfolio, making the stock its 27th largest position. Wealth High Governance Asset Management Ltda.’s holdings in Barrick Mining were worth $4,857,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the stock. Van ECK Associates Corp increased its stake in shares of Barrick Mining by 22.8% in the fourth quarter. Van ECK Associates Corp now owns 55,423,240 shares of the gold and copper producer’s stock worth $2,413,699,000 after buying an additional 10,287,544 shares during the last quarter. Royal Bank of Canada boosted its position in Barrick Mining by 10.9% during the 1st quarter. Royal Bank of Canada now owns 39,598,520 shares of the gold and copper producer’s stock valued at $1,615,225,000 after purchasing an additional 3,881,841 shares during the period. FIL Ltd grew its position in shares of Barrick Mining by 85.3% during the fourth quarter. FIL Ltd now owns 30,099,422 shares of the gold and copper producer’s stock worth $1,311,169,000 after acquiring an additional 13,853,587 shares during the last quarter. Mackenzie Financial Corp grew its position in Barrick Mining by 61.9% in the 4th quarter. Mackenzie Financial Corp now owns 20,591,745 shares of the gold and copper producer’s stock worth $909,104,000 after purchasing an additional 7,870,411 shares during the last quarter. Finally, TD Asset Management Inc raised its holdings in shares of Barrick Mining by 5.6% during the fourth quarter. TD Asset Management Inc now owns 20,395,667 shares of the gold and copper producer’s stock valued at $889,627,000 after buying an additional 1,086,332 shares during the last quarter. Hedge funds and other institutional investors own 90.82% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts recently issued reports on 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. Wall Street Zen lowered Barrick Mining from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 25th. Canadian Imperial Bank of Commerce decreased their price target on Barrick Mining to $63.00 and set an “outperformer” rating for the company in a research note on Tuesday, April 21st. UBS Group cut their price objective 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, June 30th. Finally, Weiss Ratings downgraded shares of Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $52.46.
Barrick Mining Trading Down 0.0%
Shares of B stock opened at $36.73 on Monday. The stock has a 50-day simple moving average of $38.49 and a 200 day simple moving average of $42.35. Barrick Mining Corporation has a fifty-two week low of $20.94 and a fifty-two week high of $54.69. The stock has a market capitalization of $60.45 billion, a P/E ratio of 10.15, a P/E/G ratio of 0.78 and a beta of 0.47. The company has a quick ratio of 2.44, a current ratio of 3.06 and a debt-to-equity ratio of 0.13.
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, topping analysts’ consensus estimates of $0.80 by $0.18. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.75 billion. Barrick Mining’s revenue was up 66.7% on a year-over-year basis. On average, sell-side analysts expect that Barrick Mining Corporation will post 3.57 earnings per share for the current fiscal year.
Barrick Mining Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Friday, May 29th. Barrick Mining’s payout ratio is presently 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.
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