Annis Gardner Whiting Capital Advisors LLC Invests $2.07 Million in Barrick Mining Corporation $B

Key Points

• Annis Gardner Whiting Capital Advisors opened a new position in Barrick Mining in the first quarter, buying 50,699 shares worth about $2.07 million.
• Barrick Mining’s latest quarterly results beat EPS expectations, reporting $0.98 per share versus the $0.80 estimate, though revenue of $4.11 billion came in below consensus.
• The company pays a quarterly dividend of $0.175 per share for an annualized yield of about 2.0%, while analysts still view the stock as a Moderate Buy with an average price target of $53.85.

Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 50,699 shares of the gold and copper producer's stock, valued at approximately $2,068,000.

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

Barrick Mining Stock Performance

NYSE:B opened at $34.93 on Friday. The firm's fifty day moving average price is $39.63 and its 200 day moving average price is $43.01. Barrick Mining Corporation has a 1-year low of $20.68 and a 1-year high of $54.69. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.06 and a quick ratio of 2.44. The firm has a market cap of $58.10 billion, a price-to-earnings ratio of 9.65, a price-to-earnings-growth ratio of 0.75 and a beta of 0.48.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last announced its quarterly earnings data 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 net margin of 32.14% and a return on equity of 14.81%. The company had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.75 billion. The company's revenue was up 66.7% on a year-over-year basis. On average, sell-side analysts expect that Barrick Mining Corporation will post 3.63 EPS for the current year.

Barrick Mining Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders 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 dividend yield of 2.0%. The ex-dividend date was Friday, May 29th. Barrick Mining's payout ratio is 19.34%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on B. Weiss Ratings cut Barrick Mining from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, May 11th. ATB Cormark Capital Markets cut Barrick Mining from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 7th. Royal Bank Of Canada reduced their price objective on Barrick Mining from $51.00 to $49.00 and set an "outperform" rating for the company in a research note on Thursday, July 9th. Barclays decreased their price objective on Barrick Mining from $41.00 to $39.00 and set an "equal weight" rating for the company in a report on Wednesday. Finally, Citigroup restated a "positive" rating on shares of Barrick Mining in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target 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.

Want to see what other hedge funds are holding B? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX.

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.