3,195,578 Shares in Barrick Mining Corporation $B Purchased by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 3.2 million Barrick Mining shares during the second quarter, valued at approximately $117.4 million and representing 0.19% of the company. Institutional investors collectively own 90.82% of Barrick’s stock.
• Barrick reported quarterly adjusted earnings of $0.82 per share, slightly exceeding estimates, while revenue rose 43.8% year over year to $4.19 billion, below analyst expectations of $5.10 billion.
• The company declared a quarterly dividend of $0.175 per share, equivalent to an annualized $0.70 dividend and a 1.5% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $52.57.

Bank of New York Mellon Corp acquired a new position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,195,578 shares of the gold and copper producer's stock, valued at approximately $117,374,000. Bank of New York Mellon Corp owned 0.19% of Barrick Mining at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of B. Butensky & Cohen Financial Security Inc. boosted its stake in Barrick Mining by 2.1% in the 2nd quarter. Butensky & Cohen Financial Security Inc. now owns 139,673 shares of the gold and copper producer's stock worth $5,135,000 after purchasing an additional 2,815 shares during the period. Allied Private Wealth LLC acquired a new stake in Barrick Mining during the 2nd quarter valued at $35,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Barrick Mining by 7.1% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 9,853 shares of the gold and copper producer's stock valued at $362,000 after purchasing an additional 651 shares in the last quarter. PensionDanmark Pensionsforsikringsaktieselskab lifted its holdings in shares of Barrick Mining by 3.3% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 316,923 shares of the gold and copper producer's stock valued at $11,649,000 after purchasing an additional 10,191 shares in the last quarter. Finally, Apella Capital LLC acquired a new stake in shares of Barrick Mining in the second quarter worth $249,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Mining Trading Up 0.2%

Shares of NYSE:B opened at $47.70 on Monday. The stock has a market capitalization of $78.51 billion, a PE ratio of 12.29, a P/E/G ratio of 0.91 and a beta of 0.47. Barrick Mining Corporation has a 1 year low of $25.28 and a 1 year high of $54.69. The firm has a fifty day moving average price of $38.85 and a 200 day moving average price of $41.54. The company has a current ratio of 3.01, a quick ratio of 2.36 and a debt-to-equity ratio of 0.13.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its earnings results on Monday, August 10th. The gold and copper producer reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.01. The company had revenue of $4.19 billion for the quarter, compared to analyst estimates of $5.10 billion. Barrick Mining had a return on equity of 16.02% and a net margin of 31.60%.The business's revenue was up 43.8% compared to the same quarter last year. During the same period last year, the company earned $0.47 earnings per share. Analysts expect that Barrick Mining Corporation will post 3.55 EPS for the current fiscal year.

Barrick Mining Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 1.5%. The ex-dividend date is Monday, August 31st. Barrick Mining's payout ratio is 18.04%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. UBS Group lowered their target price on Barrick Mining from $54.00 to $50.00 and set a "buy" rating on the stock in a research note on Tuesday, June 30th. Bank of America reduced their price target on shares of Barrick Mining from $56.00 to $54.00 and set a "buy" rating for the company in a research report on Tuesday, August 11th. Canadian Imperial Bank of Commerce set a $57.00 price target on shares of Barrick Mining in a report on Wednesday, August 12th. Wall Street Zen downgraded shares of Barrick Mining from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Finally, Royal Bank Of Canada lowered their price objective on shares of Barrick Mining from $51.00 to $49.00 and set an "outperform" rating on the stock in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Barrick Mining presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.57.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source