Bank of Nova Scotia Raises Position in Barrick Mining Corporation $B

Bank of Nova Scotia boosted its holdings in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 24.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,601,107 shares of the gold and copper producer’s stock after buying an additional 1,106,825 shares during the period. Bank of Nova Scotia’s holdings in Barrick Mining were worth $184,126,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Arlington Trust Co LLC purchased a new stake in shares of Barrick Mining in the 3rd quarter valued at about $26,000. Provenance Wealth Advisors LLC bought a new stake in shares of Barrick Mining during the 3rd quarter valued at about $32,000. Investors Research Corp purchased a new position in shares of Barrick Mining during the third quarter worth about $36,000. Cloud Capital Management LLC bought a new position in shares of Barrick Mining in the third quarter worth approximately $40,000. Finally, Grove Bank & Trust bought a new position in shares of Barrick Mining in the third quarter worth approximately $41,000. 90.82% of the stock is currently owned by institutional investors.

Barrick Mining Stock Performance

NYSE:B opened at $42.31 on Friday. The company has a market capitalization of $70.88 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 1.32 and a beta of 0.41. The business has a 50 day moving average of $47.96 and a 200 day moving average of $40.03. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 2.33. Barrick Mining Corporation has a 1-year low of $17.00 and a 1-year high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.19. The business had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $5.15 billion. Barrick Mining had a net margin of 29.45% and a return on equity of 12.10%. The firm’s revenue was up 44.6% compared to the same quarter last year. On average, sell-side analysts predict that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.68 annualized dividend and a dividend yield of 4.0%. This is an increase from Barrick Mining’s previous quarterly dividend of $0.18. Barrick Mining’s payout ratio is 57.34%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on B shares. UBS Group set a $55.00 target price on shares of Barrick Mining in a research report on Friday, February 6th. Scotiabank increased their price target on shares of Barrick Mining from $43.00 to $63.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Canaccord Genuity Group lowered their price objective on shares of Barrick Mining to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, February 18th. Bank of America raised shares of Barrick Mining from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $38.00 to $48.00 in a report on Monday, November 24th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Barrick Mining in a research report on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $55.25.

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.