Barings LLC Takes $6.27 Million Position in Barrick Mining Corporation $B

Barings LLC bought a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the 1st quarter, Holdings Channel reports. The institutional investor bought 153,789 shares of the gold and copper producer’s stock, valued at approximately $6,273,000.

Several other institutional investors have also recently bought and sold shares of the business. FIL Ltd boosted its stake in shares of Barrick Mining by 85.3% in the 4th quarter. FIL Ltd now owns 30,099,422 shares of the gold and copper producer’s stock valued at $1,311,169,000 after purchasing an additional 13,853,587 shares in the last quarter. Van ECK Associates Corp increased its position in Barrick Mining by 22.8% during the 4th 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 purchasing an additional 10,287,544 shares in the last quarter. Ameriprise Financial Inc. bought a new position in Barrick Mining in the 2nd quarter valued at approximately $211,263,000. Canada Pension Plan Investment Board bought a new position in Barrick Mining in the 2nd quarter valued at approximately $172,230,000. Finally, Mackenzie Financial Corp boosted its position in Barrick Mining by 61.9% in the fourth quarter. Mackenzie Financial Corp now owns 20,591,745 shares of the gold and copper producer’s stock valued at $909,104,000 after buying an additional 7,870,411 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Bank of America lowered their price target on shares of Barrick Mining from $58.00 to $56.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Royal Bank Of Canada reduced their price objective on Barrick Mining from $51.00 to $49.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Canadian Imperial Bank of Commerce lowered their target price on Barrick Mining to $63.00 and set an “outperformer” rating for the company in a report on Tuesday, April 21st. Citigroup reiterated a “positive” rating on shares of Barrick Mining in a research report on Wednesday. Finally, Barclays cut their price target on Barrick Mining from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.85.

Barrick Mining Stock Performance

NYSE B opened at $34.81 on Friday. The company has a market capitalization of $57.91 billion, a price-to-earnings ratio of 9.62, a PEG ratio of 0.78 and a beta of 0.48. Barrick Mining Corporation has a twelve month low of $20.52 and a twelve month high of $54.69. The stock has a fifty day simple moving average of $39.79 and a 200 day simple moving average of $43.07. 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) (TSE:ABX) last announced its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $4.75 billion. Barrick Mining’s revenue was up 66.7% compared to the same quarter last year. Sell-side analysts expect that Barrick Mining Corporation will post 3.63 EPS for the current year.

Barrick Mining Cuts Dividend

The company 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. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, May 29th. Barrick Mining’s dividend payout ratio is currently 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.