Barings LLC Buys New Position in Barrick Mining Corporation $B

Key Points

• Barings LLC initiated a new position in Barrick Mining during the first quarter, buying 153,789 shares valued at about $6.27 million.
• Analysts remain mixed but generally constructive: Barrick has a Moderate Buy consensus rating, though several firms trimmed price targets and ATB Cormark downgraded the stock to Hold.
• Barrick shares were down 3.1% to $34.81, and the company recently reported earnings of $0.98 per share, beating estimates even as revenue came in below expectations.

Barings LLC bought a new stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 153,789 shares of the gold and copper producer's stock, valued at approximately $6,273,000.

Other large investors have also recently bought and sold shares of the company. Enclave Advisors LLC bought a new position in shares of Barrick Mining in the 4th quarter valued at about $2,395,000. Caldwell Trust Co raised its holdings in shares of Barrick Mining by 6,688.3% in the 4th quarter. Caldwell Trust Co now owns 20,365 shares of the gold and copper producer's stock valued at $887,000 after purchasing an additional 20,065 shares during the period. Gunderson Capital Management Inc. bought a new stake in shares of Barrick Mining in the 4th quarter valued at about $8,987,000. Swiss Life Asset Management Ltd lifted its stake in Barrick Mining by 14.2% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 117,682 shares of the gold and copper producer's stock valued at $3,871,000 after purchasing an additional 14,639 shares during the last quarter. Finally, Williamson Legacy Group LLC acquired a new stake in Barrick Mining in the 4th quarter valued at about $1,315,000. Institutional investors and hedge funds own 90.82% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. ATB Cormark Capital Markets lowered Barrick Mining from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 7th. Barclays decreased their target price on Barrick Mining from $41.00 to $39.00 and set an "equal weight" rating on the stock in a report on Wednesday. UBS Group dropped their price target 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. Citigroup reaffirmed a "positive" rating on shares of Barrick Mining in a report on Wednesday. Finally, Weiss Ratings cut shares of Barrick Mining from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $53.85.

Barrick Mining Trading Down 3.1%

Shares of Barrick Mining stock opened at $34.81 on Friday. The firm has a 50-day moving average of $39.79 and a 200-day moving average of $43.07. The stock has a market cap of $57.91 billion, a PE ratio of 9.62, a PEG ratio of 0.78 and a beta of 0.48. Barrick Mining Corporation has a 52-week low of $20.52 and a 52-week high of $54.69. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.44 and a current ratio of 3.06.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released its quarterly earnings results 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 business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.75 billion. Barrick Mining's quarterly revenue was up 66.7% on a year-over-year basis. As a group, sell-side analysts forecast that Barrick Mining Corporation will post 3.63 EPS for the current year.

Barrick Mining Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were paid a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, May 29th. Barrick Mining's payout ratio is 19.34%.

Barrick Mining Company 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.