CIBC Asset Management Inc Increases Stake in Barrick Mining Corporation $B

CIBC Asset Management Inc lifted its stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 8.8% during the 4th quarter, HoldingsChannel reports. The firm owned 19,902,944 shares of the gold and copper producer’s stock after acquiring an additional 1,615,386 shares during the period. Barrick Mining comprises 2.1% of CIBC Asset Management Inc’s investment portfolio, making the stock its 7th largest position. CIBC Asset Management Inc’s holdings in Barrick Mining were worth $869,964,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in B. Financial Consulate Inc. grew its holdings in shares of Barrick Mining by 1,042.0% during 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 during the last quarter. Westside Investment Management Inc. bought a new stake in shares of Barrick Mining during the 4th quarter valued at approximately $25,000. JPL Wealth Management LLC bought a new stake in shares of Barrick Mining during the 3rd quarter valued at approximately $28,000. Laurel Wealth Advisors LLC bought a new stake in Barrick Mining during the 4th quarter worth $30,000. Finally, Pin Oak Investment Advisors Inc. bought a new stake in Barrick Mining during the 3rd quarter worth $31,000. 90.82% of the stock is owned by institutional investors.

Barrick Mining Trading Up 2.0%

NYSE B opened at $43.15 on Wednesday. The business’s 50-day moving average price is $41.25 and its two-hundred day moving average price is $43.69. Barrick Mining Corporation has a 12 month low of $19.57 and a 12 month high of $54.69. The firm has a market capitalization of $72.30 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 1.12 and a beta of 0.44. The company has a current ratio of 3.06, a quick ratio of 2.44 and a debt-to-equity ratio of 0.13.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings results on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $4.75 billion. The company’s revenue for the quarter was up 66.7% compared to the same quarter last year. On average, analysts expect that Barrick Mining Corporation will post 3.78 EPS for the current year.

Barrick Mining Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, May 29th. Barrick Mining’s dividend payout ratio is currently 19.34%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on B. Weiss Ratings lowered Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Barclays began coverage on Barrick Mining in a research report on Thursday, May 21st. They set an “equal weight” rating and a $41.00 price objective on the stock. ATB Cormark Capital Markets lowered Barrick Mining from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Wall Street Zen upgraded Barrick Mining from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 7th. Finally, Canadian Imperial Bank of Commerce reduced their target price on shares of Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the stock. 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 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.