Barrick Mining Corporation $B Shares Purchased by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. lifted its stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 4,832.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,388,830 shares of the gold and copper producer’s stock after acquiring an additional 2,340,398 shares during the quarter. Northwestern Mutual Wealth Management Co. owned 0.14% of Barrick Mining worth $97,088,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. CW Advisors LLC purchased a new position in Barrick Mining in the 2nd quarter valued at approximately $283,000. EverSource Wealth Advisors LLC purchased a new position in Barrick Mining in the 2nd quarter valued at approximately $53,000. First Trust Advisors LP purchased a new position in Barrick Mining in the 2nd quarter valued at approximately $857,000. Baird Financial Group Inc. purchased a new position in Barrick Mining in the 2nd quarter valued at approximately $2,569,000. Finally, Cresset Asset Management LLC purchased a new position in Barrick Mining in the 2nd quarter valued at approximately $543,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Barrick Mining Price Performance

Shares of NYSE:B opened at $40.60 on Friday. The company’s fifty day moving average price is $41.77 and its 200 day moving average price is $42.98. Barrick Mining Corporation has a 12 month low of $17.41 and a 12 month high of $54.69. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.06 and a quick ratio of 2.33. The firm has a market capitalization of $68.02 billion, a P/E ratio of 11.21, a P/E/G ratio of 1.19 and a beta of 0.41.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly 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 net margin of 32.14% and a return on equity of 14.81%. The firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.75 billion. The firm’s quarterly revenue was up 66.7% compared to the same quarter last year. As a group, sell-side analysts predict that Barrick Mining Corporation will post 3.67 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders 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 1.7%. The ex-dividend date of this dividend is Friday, May 29th. Barrick Mining’s dividend payout ratio (DPR) is presently 46.41%.

Analyst Upgrades and Downgrades

Several brokerages have commented on B. Canadian Imperial Bank of Commerce decreased their price target on shares of Barrick Mining to $63.00 and set an “outperformer” rating for the company in a research report on Tuesday, April 21st. Citigroup raised their price target on shares of Barrick Mining from $38.00 to $48.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. Weiss Ratings cut shares of Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Canaccord Genuity Group decreased their price target on shares of Barrick Mining to $77.00 and set a “buy” rating for the company in a research report on Wednesday, February 18th. Finally, UBS Group raised their price target on shares of Barrick Mining from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Barrick Mining presently has an average rating of “Moderate Buy” and an average price target of $54.50.

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.