Lombard Odier Asset Management Switzerland SA boosted its stake in shares of Barrick Mining Corporation (NYSE:B – Free Report) (TSE:ABX) by 72.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 43,543 shares of the gold and copper producer’s stock after buying an additional 18,334 shares during the quarter. Lombard Odier Asset Management Switzerland SA’s holdings in Barrick Mining were worth $1,779,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the stock. FIL Ltd raised its stake in shares of Barrick Mining by 85.3% during the 4th quarter. FIL Ltd now owns 30,099,422 shares of the gold and copper producer’s stock worth $1,311,169,000 after purchasing an additional 13,853,587 shares in the last quarter. Van ECK Associates Corp grew 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 valued at $2,413,699,000 after buying an additional 10,287,544 shares in the last quarter. Ameriprise Financial Inc. acquired a new position in Barrick Mining during the second quarter worth $211,263,000. Canada Pension Plan Investment Board acquired a new position in Barrick Mining during the second quarter worth $172,230,000. Finally, Mackenzie Financial Corp increased its holdings in Barrick Mining by 61.9% during the fourth quarter. Mackenzie Financial Corp now owns 20,591,745 shares of the gold and copper producer’s stock worth $909,104,000 after buying an additional 7,870,411 shares during the last quarter. 90.82% of the stock is currently owned by institutional investors.
Barrick Mining Trading Up 0.6%
B stock opened at $37.34 on Tuesday. Barrick Mining Corporation has a one year low of $20.94 and a one year high of $54.69. The stock has a market cap of $62.10 billion, a price-to-earnings ratio of 10.31, a price-to-earnings-growth ratio of 0.79 and a beta of 0.48. The company has a fifty day moving average price of $38.79 and a two-hundred day moving average price of $42.66. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.06 and a quick ratio of 2.44.
Barrick Mining Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors 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 dividend on an annualized basis and a yield of 1.9%. Barrick Mining’s dividend payout ratio is 19.34%.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the stock. Canadian Imperial Bank of Commerce cut their price target on shares of Barrick Mining to $63.00 and set an “outperformer” rating for the company in a research note on Tuesday, April 21st. Barclays lowered their price objective on shares of Barrick Mining from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 15th. Scotiabank dropped their target price on shares of Barrick Mining from $63.00 to $57.00 and set a “sector outperform” rating on the stock in a report on Tuesday, July 14th. ATB Cormark Capital Markets downgraded shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Finally, Royal Bank Of Canada reduced their price target on Barrick Mining from $51.00 to $49.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.46.
Check Out Our Latest Research Report on Barrick Mining
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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