1,014,059 Shares in Barrick Mining Corporation $B Purchased by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC purchased over 1 million shares of Barrick Mining Corporation for approximately $21.14 million, representing about 0.06% of the company's total stock.
• Barrick Mining's stock price has increased by 2.7%, with a current market value of approximately $60.64 billion and a twelve-month high of $36.40.
• The company recently reported earnings of $0.47 per share, aligning with analyst expectations, and a quarterly revenue of $3.72 billion, exceeding predictions of $3.60 billion.

Allspring Global Investments Holdings LLC acquired a new position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 1,014,059 shares of the gold and copper producer's stock, valued at approximately $21,143,000. Allspring Global Investments Holdings LLC owned approximately 0.06% of Barrick Mining as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the business. GW Henssler & Associates Ltd. bought a new stake in Barrick Mining in the 2nd quarter worth about $22,969,000. LRI Investments LLC bought a new stake in Barrick Mining in the 2nd quarter worth about $43,000. CWM LLC bought a new stake in Barrick Mining in the 2nd quarter worth about $317,000. Means Investment CO. Inc. bought a new stake in Barrick Mining in the 2nd quarter worth about $343,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in Barrick Mining in the 2nd quarter worth about $1,403,000. 90.82% of the stock is currently owned by institutional investors.

Barrick Mining Stock Up 2.7%

B stock opened at $35.61 on Friday. Barrick Mining Corporation has a twelve month low of $15.11 and a twelve month high of $36.40. The company has a quick ratio of 2.53, a current ratio of 3.21 and a debt-to-equity ratio of 0.14. The stock has a market cap of $60.64 billion, a P/E ratio of 22.40, a PEG ratio of 0.57 and a beta of 0.30. The business's 50-day moving average price is $29.51 and its 200-day moving average price is $23.34.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its quarterly earnings data on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share for the quarter, meeting analysts' consensus estimates of $0.47. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The firm had revenue of $3.72 billion for the quarter, compared to analysts' expectations of $3.60 billion. During the same period in the previous year, the firm earned $0.32 EPS. The business's quarterly revenue was up 16.4% on a year-over-year basis. On average, equities research analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, August 29th. Barrick Mining's payout ratio is presently 37.74%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. National Bank Financial upgraded Barrick Mining from a "sector perform" rating to an "outperform" rating in a report on Monday, September 22nd. BMO Capital Markets reissued a "market perform" rating on shares of Barrick Mining in a research report on Monday, September 22nd. Cibc World Mkts raised Barrick Mining from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 12th. Citigroup raised their target price on Barrick Mining from $21.00 to $38.00 and gave the stock a "neutral" rating in a research report on Wednesday. Finally, National Bankshares raised Barrick Mining to an "outperform" rating in a research report on Monday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Barrick Mining presently has an average rating of "Moderate Buy" and a consensus price target of $41.00.

Barrick Mining Company Profile

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.   In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.

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