SouthState Bank Corp Has $16.48 Million Stock Holdings in Barrick Mining Corporation $B

SouthState Bank Corp raised its holdings in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 297.9% during the fourth quarter, HoldingsChannel reports. The firm owned 378,499 shares of the gold and copper producer’s stock after acquiring an additional 283,377 shares during the quarter. SouthState Bank Corp’s holdings in Barrick Mining were worth $16,484,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Financial Consulate Inc. boosted its holdings in shares of Barrick Mining by 1,042.0% in the 4th quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock valued at $25,000 after purchasing an additional 521 shares in the last quarter. Westside Investment Management Inc. acquired a new stake in shares of Barrick Mining in the 4th quarter valued at $25,000. JPL Wealth Management LLC acquired a new stake in shares of Barrick Mining in the 3rd quarter valued at $28,000. Laurel Wealth Advisors LLC acquired a new stake in shares of Barrick Mining in the 4th quarter valued at $30,000. Finally, Pin Oak Investment Advisors Inc. bought a new position in shares of Barrick Mining in the 3rd quarter valued at $31,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on B. Citigroup raised their price objective on Barrick Mining from $38.00 to $48.00 and gave the company a “neutral” rating in a report on Monday, February 9th. Barclays began coverage on Barrick Mining in a report on Thursday, May 21st. They set an “equal weight” rating and a $41.00 price objective on the stock. Canaccord Genuity Group cut their price objective on Barrick Mining to $77.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. Wall Street Zen raised Barrick Mining from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 7th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.46.

Barrick Mining Trading Down 7.9%

NYSE B opened at $39.42 on Friday. 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 Corporation has a twelve month low of $19.57 and a twelve month high of $54.69. The company has a market cap of $66.06 billion, a price-to-earnings ratio of 10.89, a price-to-earnings-growth ratio of 1.12 and a beta of 0.44. The business’s fifty day moving average is $41.56 and its 200 day moving average is $43.78.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings data on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.18. The company had revenue of $4.11 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. As a group, sell-side analysts expect that Barrick Mining Corporation will post 3.78 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, May 29th. Barrick Mining’s dividend payout ratio (DPR) is currently 19.34%.

Barrick Mining 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.