K.J. Harrison & Partners Inc Has $927,000 Position in Barrick Mining Corporation $B

K.J. Harrison & Partners Inc boosted its holdings in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 291.9% during the first quarter, Holdings Channel reports. The fund owned 22,730 shares of the gold and copper producer’s stock after purchasing an additional 16,930 shares during the period. K.J. Harrison & Partners Inc’s holdings in Barrick Mining were worth $927,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Financial Consulate Inc. raised its position in shares of Barrick Mining by 1,042.0% in the fourth 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 period. Westside Investment Management Inc. acquired a new stake in shares of Barrick Mining during the 4th quarter worth about $25,000. Intesa Sanpaolo Wealth Management acquired a new stake in shares of Barrick Mining during the 4th quarter worth about $26,000. JPL Wealth Management LLC bought a new stake in shares of Barrick Mining during the 3rd quarter worth about $28,000. Finally, Laurel Wealth Advisors LLC bought a new stake in shares of Barrick Mining during the 4th quarter worth about $30,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barrick Mining Price Performance

NYSE:B opened at $38.22 on Friday. Barrick Mining Corporation has a 52 week low of $20.52 and a 52 week high of $54.69. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.44 and a current ratio of 3.06. The firm’s 50-day simple moving average is $40.47 and its 200 day simple moving average is $43.60. The firm has a market cap of $63.57 billion, a price-to-earnings ratio of 10.56, a P/E/G ratio of 1.09 and a beta of 0.48.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings data on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share (EPS) 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 the consensus estimate of $4.75 billion. The company’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 3.78 earnings per share for the current year.

Barrick Mining Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were given a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Friday, May 29th. Barrick Mining’s payout ratio is presently 19.34%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on B shares. ATB Cormark Capital Markets cut shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. UBS Group reduced their price objective on Barrick Mining from $54.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Canadian Imperial Bank of Commerce decreased their target price on Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a research report on Tuesday, April 21st. Weiss Ratings lowered Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Finally, Barclays initiated coverage on Barrick Mining in a report on Thursday, May 21st. They set an “equal weight” rating and a $41.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Barrick Mining presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.15.

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.