Barrick Mining Corporation $B Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC boosted its holdings in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 29.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 426,786 shares of the gold and copper producer’s stock after acquiring an additional 96,992 shares during the period. Intech Investment Management LLC’s holdings in Barrick Mining were worth $18,616,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Financial Consulate Inc. increased its stake in Barrick Mining by 1,042.0% during the fourth quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock worth $25,000 after acquiring an additional 521 shares during the last quarter. Westside Investment Management Inc. purchased a new position in shares of Barrick Mining during the 4th quarter worth $25,000. JPL Wealth Management LLC purchased a new position in shares of Barrick Mining during the 3rd quarter worth $28,000. Laurel Wealth Advisors LLC acquired a new stake in shares of Barrick Mining during the 4th quarter worth about $30,000. Finally, Pin Oak Investment Advisors Inc. purchased a new stake in Barrick Mining in the 3rd quarter valued at about $31,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Barclays initiated coverage on shares of Barrick Mining in a research report on Thursday, May 21st. They issued an “equal weight” rating and a $41.00 target price on the stock. Weiss Ratings downgraded shares of Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Wall Street Zen raised shares of Barrick Mining from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 7th. JPMorgan Chase & Co. initiated coverage on shares of Barrick Mining in a report on Thursday, January 29th. They issued an “overweight” rating and a $68.00 target price for the company. Finally, Canadian Imperial Bank of Commerce decreased their price target on Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.46.

Barrick Mining Stock Up 1.2%

Shares of B opened at $41.76 on Friday. The company’s 50-day simple moving average is $41.12 and its 200-day simple moving average is $43.59. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.44 and a current ratio of 3.06. Barrick Mining Corporation has a 1 year low of $18.83 and a 1 year high of $54.69. The stock has a market capitalization of $69.96 billion, a PE ratio of 11.53, a P/E/G ratio of 1.09 and a beta of 0.41.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings data on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $4.75 billion. The company’s revenue for the quarter was up 66.7% compared to the same quarter last year. Analysts forecast that Barrick Mining Corporation will post 3.78 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be given a dividend of $0.175 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.7%. Barrick Mining’s dividend payout ratio is currently 46.41%.

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.