Barrick Mining Corporation $B Shares Acquired by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management more than doubled its stake in Barrick Mining during the fourth quarter, increasing holdings by 101.3% to 1.84 million shares worth about $80.1 million.
• Barrick Mining reported better-than-expected adjusted EPS of $0.98 for the quarter, though revenue of $4.11 billion came in below Wall Street estimates.
• The company declared a quarterly dividend of $0.175 per share, equal to an annualized yield of about 1.9%, while analysts currently rate the stock a consensus Moderate Buy with an average target price of $53.46.

Allianz Asset Management GmbH grew its stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 101.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,835,781 shares of the gold and copper producer's stock after purchasing an additional 923,857 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.11% of Barrick Mining worth $80,073,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Capital International Investors boosted its position in Barrick Mining by 35.9% during the third quarter. Capital International Investors now owns 101,846,588 shares of the gold and copper producer's stock worth $3,340,709,000 after acquiring an additional 26,921,219 shares during the last quarter. Vanguard Group Inc. boosted its position in Barrick Mining by 1.1% during the third quarter. Vanguard Group Inc. now owns 70,878,168 shares of the gold and copper producer's stock worth $2,327,991,000 after acquiring an additional 767,544 shares during the last quarter. TD Asset Management Inc boosted its position in Barrick Mining by 5.6% during the fourth quarter. TD Asset Management Inc now owns 20,395,667 shares of the gold and copper producer's stock worth $889,627,000 after acquiring an additional 1,086,332 shares during the last quarter. CIBC Asset Management Inc boosted its position in Barrick Mining by 8.8% during the fourth quarter. CIBC Asset Management Inc now owns 19,902,944 shares of the gold and copper producer's stock worth $869,964,000 after acquiring an additional 1,615,386 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Barrick Mining by 7.0% during the fourth quarter. Geode Capital Management LLC now owns 17,733,900 shares of the gold and copper producer's stock worth $802,477,000 after acquiring an additional 1,154,790 shares during the last quarter. Institutional investors and hedge funds own 90.82% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on B. Barclays began coverage on shares of Barrick Mining in a research report on Thursday, May 21st. They set an "equal weight" rating and a $41.00 price target on the stock. Canaccord Genuity Group lowered their price target on shares of Barrick Mining to $77.00 and set a "buy" rating on the stock in a research report on Wednesday, February 18th. UBS Group boosted their price target 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. Canadian Imperial Bank of Commerce lowered their price target on shares of Barrick Mining to $63.00 and set an "outperformer" rating on the stock in a research report on Tuesday, April 21st. Finally, Weiss Ratings lowered 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, sixteen have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Barrick Mining currently has a consensus rating of "Moderate Buy" and an average target price of $53.46.

Barrick Mining Price Performance

Barrick Mining stock opened at $37.15 on Thursday. The company's 50 day simple moving average is $41.59 and its 200-day simple moving average is $43.86. The company has a market capitalization of $61.79 billion, a price-to-earnings ratio of 10.26, a price-to-earnings-growth ratio of 1.11 and a beta of 0.44. Barrick Mining Corporation has a 1 year low of $20.01 and a 1 year 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.18. The business had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.75 billion. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. Barrick Mining's revenue for the quarter was up 66.7% compared to the same quarter last year. As a group, equities research analysts expect that Barrick Mining Corporation will post 3.78 earnings per share for the current year.

Barrick Mining Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is 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.

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