Independent Financial Group LLC Takes $2.20 Million Position in Barrick Mining Corporation $B

Independent Financial Group LLC acquired a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 54,040 shares of the gold and copper producer’s stock, valued at approximately $2,202,000.

Several other institutional investors have also modified their holdings of B. FIL Ltd grew its stake in shares of Barrick Mining by 85.3% during the fourth quarter. FIL Ltd now owns 30,099,422 shares of the gold and copper producer’s stock worth $1,311,169,000 after purchasing an additional 13,853,587 shares in the last quarter. Van ECK Associates Corp raised its stake in Barrick Mining by 22.8% in the fourth quarter. Van ECK Associates Corp now owns 55,423,240 shares of the gold and copper producer’s stock valued at $2,413,699,000 after buying an additional 10,287,544 shares in the last quarter. Ameriprise Financial Inc. acquired a new stake in Barrick Mining in the second quarter valued at $211,263,000. Canada Pension Plan Investment Board purchased a new stake in Barrick Mining during the 2nd quarter worth about $172,230,000. Finally, Mackenzie Financial Corp lifted its holdings in Barrick Mining by 61.9% during the 4th quarter. Mackenzie Financial Corp now owns 20,591,745 shares of the gold and copper producer’s stock worth $909,104,000 after buying an additional 7,870,411 shares during the last quarter. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Mining Stock Performance

NYSE B opened at $34.93 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.06 and a quick ratio of 2.44. Barrick Mining Corporation has a 1 year low of $20.68 and a 1 year high of $54.69. The company has a market capitalization of $58.10 billion, a PE ratio of 9.65, a P/E/G ratio of 0.75 and a beta of 0.48. The company has a fifty day moving average of $39.63 and a two-hundred day moving average of $43.01.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, topping 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 business had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.75 billion. The business’s revenue for the quarter was up 66.7% compared to the same quarter last year. As a group, analysts expect that Barrick Mining Corporation will post 3.61 earnings per share for the current year.

Barrick Mining Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Friday, May 29th. Barrick Mining’s dividend payout ratio (DPR) is currently 19.34%.

Analysts Set New Price Targets

A number of research analysts have recently commented on B shares. Bank of America dropped their price objective on Barrick Mining from $58.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Citigroup restated a “positive” rating on shares of Barrick Mining in a research note on Wednesday. UBS Group lowered their price target on Barrick Mining from $54.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Weiss Ratings lowered shares of Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Finally, Scotiabank cut their price objective on shares of Barrick Mining from $63.00 to $57.00 and set a “sector outperform” rating on the stock in a report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Barrick Mining currently has a consensus rating of “Moderate Buy” and an average target price of $53.85.

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.