Axiom Investment Management LLC Makes New $2.81 Million Investment in Barrick Mining Corporation $B

Key Points

• Axiom Investment Management initiated a $2.81 million position in Barrick Mining during the first quarter, purchasing 68,767 shares. Institutional investors and hedge funds collectively own 90.82% of the company.
• Analyst sentiment remains positive overall, with Barrick receiving a “Moderate Buy” consensus rating and an average price target of $52.46, despite some recent downgrades and target reductions.
• Barrick reported quarterly EPS of $0.98, beating estimates of $0.80, while revenue rose 66.7% year over year to $4.11 billion. Shares opened at $36.73, and the company pays a quarterly dividend of $0.175, yielding about 1.9%.

Axiom Investment Management LLC bought a new position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 68,767 shares of the gold and copper producer's stock, valued at approximately $2,805,000. Barrick Mining makes up 2.1% of Axiom Investment Management LLC's holdings, making the stock its 10th largest position.

Several other hedge funds have also modified their holdings of B. Financial Consulate Inc. lifted its holdings in Barrick Mining by 1,042.0% in the fourth quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer's stock valued at $25,000 after acquiring an additional 521 shares during the period. Westside Investment Management Inc. acquired a new position in shares of Barrick Mining during the 4th quarter worth $25,000. Intesa Sanpaolo Wealth Management acquired a new position in shares of Barrick Mining during the 4th quarter worth $26,000. Ascentis Independent Advisors acquired a new position in shares of Barrick Mining during the 1st quarter worth $28,000. Finally, JPL Wealth Management LLC purchased a new position in shares of Barrick Mining in the 3rd quarter valued at about $28,000. 90.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. ATB Cormark Capital Markets cut shares of Barrick Mining from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 7th. Barclays lowered their price target on Barrick Mining from $41.00 to $39.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 15th. Wall Street Zen downgraded Barrick Mining from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 25th. Canadian Imperial Bank of Commerce reduced their price objective on Barrick Mining to $63.00 and set an "outperformer" rating for the company in a report on Tuesday, April 21st. Finally, Citigroup reiterated a "positive" rating on shares of Barrick Mining in a research report on Wednesday, July 15th. 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, Barrick Mining has an average rating of "Moderate Buy" and an average price target of $52.46.

Barrick Mining Stock Down 2.6%

B stock opened at $36.73 on Friday. 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 company's 50 day simple moving average is $38.49 and its 200-day simple moving average is $42.40. Barrick Mining Corporation has a 12 month low of $20.94 and a 12 month high of $54.69. The firm has a market capitalization of $61.09 billion, a PE ratio of 10.15, a P/E/G ratio of 0.80 and a beta of 0.48.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last issued its quarterly earnings data on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.18. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.75 billion. The firm's quarterly revenue was up 66.7% compared to the same quarter last year. Equities analysts expect that Barrick Mining Corporation will post 3.57 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were given a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, May 29th. Barrick Mining's dividend payout ratio is currently 19.34%.

About Barrick Mining

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.

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