Barrick Mining Corporation $B is Evexia Wealth LLC's 3rd Largest Position

Key Points

• Evexia Wealth LLC increased its stake in Barrick Mining by 7.7% in Q1, bringing its holdings to 404,030 shares worth about $17.4 million. Barrick now represents roughly 4.9% of the firm’s portfolio and is its third-largest position.
• Analysts remain generally constructive on the stock, with a consensus rating of “Moderate Buy” and an average target price of $53.46. Recent updates included a higher target from UBS and a downgrade to hold from ATB Cormark.
• Barrick reported Q1 earnings of $0.98 per share, beating estimates, while revenue climbed 66.7% year over year to $4.11 billion. The company also paid a quarterly dividend of $0.175 per share, implying an annualized yield of about 1.7%.

Evexia Wealth LLC boosted its stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 7.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 404,030 shares of the gold and copper producer's stock after purchasing an additional 28,863 shares during the period. Barrick Mining makes up about 4.9% of Evexia Wealth LLC's investment portfolio, making the stock its 3rd biggest holding. Evexia Wealth LLC's holdings in Barrick Mining were worth $17,381,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Bogart Wealth LLC grew its stake in shares of Barrick Mining by 3.5% in the fourth quarter. Bogart Wealth LLC now owns 6,442 shares of the gold and copper producer's stock valued at $281,000 after buying an additional 218 shares in the last quarter. Parvin Asset Management LLC lifted its position in Barrick Mining by 0.7% during the 4th quarter. Parvin Asset Management LLC now owns 33,385 shares of the gold and copper producer's stock worth $1,454,000 after acquiring an additional 225 shares in the last quarter. Mmbg Investment Advisors CO. lifted its position in Barrick Mining by 0.6% during the 4th quarter. Mmbg Investment Advisors CO. now owns 43,454 shares of the gold and copper producer's stock worth $1,892,000 after acquiring an additional 254 shares in the last quarter. S.A. Mason LLC boosted its holdings in Barrick Mining by 1.3% in the 4th quarter. S.A. Mason LLC now owns 23,114 shares of the gold and copper producer's stock worth $1,007,000 after acquiring an additional 300 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its holdings in Barrick Mining by 1.0% in the 4th quarter. Sequoia Financial Advisors LLC now owns 31,212 shares of the gold and copper producer's stock worth $1,359,000 after acquiring an additional 302 shares during the period. 90.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Weiss Ratings lowered shares of Barrick Mining from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, May 11th. UBS Group boosted their target price on shares of Barrick Mining from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Tuesday, May 12th. Barclays started coverage on shares of Barrick Mining in a research note on Thursday, May 21st. They issued an "equal weight" rating and a $41.00 target price for the company. Canadian Imperial Bank of Commerce lowered their price target on shares of Barrick Mining to $63.00 and set an "outperformer" rating for the company in a report on Tuesday, April 21st. Finally, ATB Cormark Capital Markets downgraded shares of Barrick Mining from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $53.46.

Barrick Mining Stock Performance

Shares of B opened at $40.32 on Monday. The business's 50 day moving average is $41.48 and its two-hundred day moving average is $43.89. Barrick Mining Corporation has a 52-week low of $20.35 and a 52-week high of $54.69. The firm has a market cap of $67.07 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 1.15 and a beta of 0.43. The company has a quick ratio of 2.44, a current ratio of 3.06 and a debt-to-equity ratio of 0.13.

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 earnings per share 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 during the quarter, compared to the consensus estimate of $4.75 billion. The company's revenue was up 66.7% compared to the same quarter last year. Analysts forecast that Barrick Mining Corporation will post 3.78 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders 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 yield of 1.7%. The ex-dividend date was Friday, May 29th. Barrick Mining's dividend payout ratio is 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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