Allianz SE Boosts Holdings in Barrick Mining Corporation (NYSE:B)

Key Points

• Allianz SE increased its stake in Barrick Mining Corporation by 1.4%, now holding over 2.2 million shares, which represents 1.1% of its portfolio.
• Barrick Mining reported earnings of $0.35 per share for the last quarter, surpassing estimates, while its revenue was $3 billion, slightly below expectations.
• The company declared a quarterly dividend of $0.10 per share, yielding 1.9%, with a dividend payout ratio of 30.08%.

Allianz SE lifted its position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 1.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,206,012 shares of the gold and copper producer's stock after purchasing an additional 29,732 shares during the period. Barrick Mining accounts for approximately 1.1% of Allianz SE's investment portfolio, making the stock its 16th biggest holding. Allianz SE owned approximately 0.13% of Barrick Mining worth $42,824,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in B. Raiffeisen Bank International AG acquired a new stake in shares of Barrick Mining in the 1st quarter valued at $136,000. Cheviot Value Management LLC acquired a new stake in shares of Barrick Mining in the 1st quarter valued at $13,116,000. Cedar Wealth Management LLC boosted its holdings in shares of Barrick Mining by 2.9% in the 1st quarter. Cedar Wealth Management LLC now owns 64,739 shares of the gold and copper producer's stock valued at $1,259,000 after purchasing an additional 1,800 shares in the last quarter. DCF Advisers LLC acquired a new stake in shares of Barrick Mining in the 1st quarter valued at $1,264,000. Finally, Bank of Nova Scotia boosted its holdings in shares of Barrick Mining by 2.4% in the 1st quarter. Bank of Nova Scotia now owns 5,834,366 shares of the gold and copper producer's stock valued at $113,294,000 after purchasing an additional 137,951 shares in the last quarter. Institutional investors own 90.82% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on B. Scotiabank raised their price objective on Barrick Mining from $20.00 to $22.00 and gave the company a "sector perform" rating in a report on Monday, April 14th. CIBC raised their price objective on Barrick Mining from $24.00 to $28.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. BMO Capital Markets began coverage on Barrick Mining in a report on Wednesday, April 16th. They set a "market perform" rating on the stock. UBS Group raised their price objective on Barrick Mining from $22.00 to $25.00 and gave the company a "buy" rating in a report on Friday, April 11th. Finally, Royal Bank Of Canada set a $26.00 target price on Barrick Mining and gave the stock an "outperform" rating in a research 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 issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $24.41.

Barrick Mining Price Performance

Shares of Barrick Mining stock traded up $0.30 during trading hours on Tuesday, reaching $22.48. The company's stock had a trading volume of 6,732,577 shares, compared to its average volume of 19,779,389. The firm has a 50 day moving average price of $20.86 and a 200-day moving average price of $19.25. Barrick Mining Corporation has a one year low of $15.11 and a one year high of $22.49. 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 stock has a market cap of $38.34 billion, a P/E ratio of 16.89, a P/E/G ratio of 0.32 and a beta of 0.27.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last issued its quarterly earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 EPS for the quarter, beating the consensus estimate of $0.29 by $0.06. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.15 billion. Barrick Mining had a net margin of 17.46% and a return on equity of 7.51%. The firm's revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.19 EPS. On average, analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, May 30th. Barrick Mining's dividend payout ratio is presently 30.08%.

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.