Barrick Mining Corporation $B Shares Bought by Intech Investment Management LLC

Key Points

• Intech Investment Management increased its Barrick Mining stake by 29.4% in the fourth quarter, adding 96,992 shares and bringing its total holdings to 426,786 shares worth about $18.6 million.
• Barrick Mining reported better-than-expected earnings of $0.98 per share, though quarterly revenue of $4.11 billion came in below analyst estimates; revenue still rose 66.7% year over year.
• Analysts currently have a Moderate Buy consensus on the stock with an average target price of $53.46, while Barrick also announced a quarterly dividend of $0.175 per share, or $0.70 annualized.

Intech Investment Management LLC boosted its holdings in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 29.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 426,786 shares of the gold and copper producer's stock after purchasing an additional 96,992 shares during the quarter. Intech Investment Management LLC's holdings in Barrick Mining were worth $18,616,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in B. Bogart Wealth LLC lifted its position in shares of Barrick Mining by 3.5% during the 4th 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. Mmbg Investment Advisors CO. lifted its holdings in Barrick Mining by 0.6% during the fourth quarter. Mmbg Investment Advisors CO. now owns 43,454 shares of the gold and copper producer's stock valued at $1,892,000 after purchasing an additional 254 shares in the last quarter. S.A. Mason LLC grew its position in shares of Barrick Mining by 1.3% in the fourth quarter. S.A. Mason LLC now owns 23,114 shares of the gold and copper producer's stock valued at $1,007,000 after purchasing an additional 300 shares during the period. Sequoia Financial Advisors LLC increased its stake in shares of Barrick Mining by 1.0% during the fourth quarter. Sequoia Financial Advisors LLC now owns 31,212 shares of the gold and copper producer's stock worth $1,359,000 after purchasing an additional 302 shares in the last quarter. Finally, Legacy Financial Advisors Inc. raised its position in shares of Barrick Mining by 3.9% during the 4th quarter. Legacy Financial Advisors Inc. now owns 8,569 shares of the gold and copper producer's stock worth $373,000 after purchasing an additional 319 shares during the last quarter. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Barrick Mining Trading Up 1.2%

Shares of Barrick Mining stock opened at $41.76 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 stock's 50 day simple moving average is $41.12 and its 200-day simple moving average is $43.59. The stock has a market cap of $69.96 billion, a P/E ratio of 11.53, a P/E/G ratio of 1.09 and a beta of 0.41. Barrick Mining Corporation has a 1-year low of $18.83 and a 1-year high of $54.69.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its quarterly earnings results on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, beating the consensus estimate of $0.80 by $0.18. The firm had revenue of $4.11 billion during 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 quarterly revenue was up 66.7% on a year-over-year basis. Analysts predict that Barrick Mining Corporation will post 3.78 EPS for the current fiscal 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 issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, May 29th. Barrick Mining's payout ratio is currently 46.41%.

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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