Barrick Mining Corporation (NYSE:B) Shares Acquired by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp increased its stake in Barrick Mining by 2.3%, owning a total of 1,118,350 shares worth approximately $21.7 million after acquiring an additional 25,350 shares in the first quarter.
• In the latest quarter, Barrick Mining reported $0.35 EPS, exceeding analysts' expectations, with revenue reaching $3 billion, although slightly below the anticipated $3.15 billion.
• The company recently declared a $0.10 quarterly dividend per share, translating to an annual yield of 1.9%, with a payout ratio of 30.08%.

Alberta Investment Management Corp grew its stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 2.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,118,350 shares of the gold and copper producer's stock after acquiring an additional 25,350 shares during the quarter. Alberta Investment Management Corp owned about 0.07% of Barrick Mining worth $21,710,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of B. Nexus Investment Management ULC purchased a new stake in Barrick Mining in the first quarter valued at $32,000. Vega Investment Solutions purchased a new stake in Barrick Mining in the fourth quarter valued at $31,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Barrick Mining by 55.8% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 2,193 shares of the gold and copper producer's stock valued at $43,000 after buying an additional 785 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in Barrick Mining during the 4th quarter worth about $37,000. Finally, Ameriflex Group Inc. acquired a new position in Barrick Mining during the 4th quarter worth about $39,000. 90.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

B has been the topic of several recent research reports. UBS Group upped their price target on Barrick Mining from $22.00 to $25.00 and gave the stock a "buy" rating in a report on Friday, April 11th. CIBC upped their price target on Barrick Mining from $24.00 to $28.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. Wall Street Zen upgraded Barrick Mining from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 5th. BMO Capital Markets initiated coverage on Barrick Mining in a report on Wednesday, April 16th. They set a "market perform" rating on the stock. Finally, Royal Bank Of Canada set a $26.00 price target on Barrick Mining and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $24.41.

Barrick Mining Price Performance

Barrick Mining stock traded up $0.24 during mid-day trading on Friday, hitting $21.36. 10,863,207 shares of the company were exchanged, compared to its average volume of 9,863,622. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.87 and a quick ratio of 2.16. The business's 50 day simple moving average is $20.80 and its two-hundred day simple moving average is $19.18. The company has a market capitalization of $36.44 billion, a P/E ratio of 16.06, a PEG ratio of 0.32 and a beta of 0.27. Barrick Mining Corporation has a 12-month low of $15.11 and a 12-month high of $21.95.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its quarterly earnings data on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.06. Barrick Mining had a return on equity of 7.51% and a net margin of 17.46%. The business had revenue of $3 billion for the quarter, compared to analysts' expectations of $3.15 billion. During the same quarter last year, the firm earned $0.19 earnings per share. The business's revenue was up 13.9% on a year-over-year basis. Analysts forecast that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a $0.10 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.40 dividend on an annualized basis and a yield of 1.9%. Barrick Mining's dividend payout ratio (DPR) is presently 30.08%.

About Barrick Mining

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.