Barrick Mining Corporation $B Shares Bought by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its Barrick Mining position by 31.8% in the first quarter, purchasing 79,967 additional shares for a total holding of 331,723 shares worth approximately $13.52 million. Institutional investors collectively own 90.82% of the company.
• Analysts remain broadly positive, with one Strong Buy, 17 Buy and four Hold ratings. Barrick has a consensus rating of “Moderate Buy” and an average price target of $52.46, despite several analysts recently lowering their targets.
• Barrick shares opened at $36.30, down 1.1%, while the company reported quarterly EPS of $0.98—above the $0.80 consensus estimate—and revenue of $4.11 billion, up 66.7% year over year. The company declared a quarterly dividend of $0.175 per share, representing a 1.9% yield.

Cetera Investment Advisers lifted its position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 31.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 331,723 shares of the gold and copper producer's stock after buying an additional 79,967 shares during the period. Cetera Investment Advisers' holdings in Barrick Mining were worth $13,520,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. CW Advisors LLC acquired a new position in Barrick Mining during the second quarter worth about $283,000. EverSource Wealth Advisors LLC bought a new position in shares of Barrick Mining in the second quarter valued at $53,000. First Trust Advisors LP bought a new stake in shares of Barrick Mining during the 2nd quarter worth $857,000. Baird Financial Group Inc. acquired a new position in shares of Barrick Mining in the 2nd quarter worth $2,569,000. Finally, Cresset Asset Management LLC acquired a new position in shares of Barrick Mining in the 2nd quarter worth $543,000. Institutional investors and hedge funds own 90.82% of the company's stock.

Analysts Set New Price Targets

B has been the topic of a number of recent analyst reports. Canadian Imperial Bank of Commerce cut their target price on Barrick Mining to $63.00 and set an "outperformer" rating on the stock in a research report on Tuesday, April 21st. Citigroup restated a "positive" rating on shares of Barrick Mining in a report on Wednesday, July 15th. Bank of America decreased their target price on shares of Barrick Mining from $58.00 to $56.00 and set a "buy" rating for the company in a report on Thursday, July 9th. ATB Cormark Capital Markets downgraded shares of Barrick Mining from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 7th. Finally, Scotiabank cut their price target on shares of Barrick Mining from $63.00 to $57.00 and set a "sector outperform" rating on the stock in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Barrick Mining has an average rating of "Moderate Buy" and a consensus price target of $52.46.

Barrick Mining Stock Down 1.1%

Shares of Barrick Mining stock opened at $36.30 on Thursday. The stock has a 50-day moving average price of $38.65 and a 200 day moving average price of $42.51. The company has a market cap of $60.39 billion, a P/E ratio of 10.03, a P/E/G ratio of 0.78 and a beta of 0.48. The company has a current ratio of 3.06, a quick ratio of 2.44 and a debt-to-equity ratio of 0.13. Barrick Mining Corporation has a 1 year low of $20.94 and a 1 year high of $54.69.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.18. The company had revenue of $4.11 billion for the quarter, compared to analysts' expectations of $4.75 billion. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The business's revenue for the quarter was up 66.7% on a year-over-year basis. As a group, analysts expect that Barrick Mining Corporation will post 3.57 EPS for the current fiscal 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 issued a dividend of $0.175 per share. 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 (DPR) 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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