Barrick Mining Corporation $B Shares Bought by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada increased its Barrick Mining stake by 13.2% in the second quarter, adding 824,520 shares and bringing its holdings to 7.09 million shares valued at approximately $258.6 million. Institutional investors collectively own 90.82% of the company.
• Barrick reported quarterly earnings of $0.82 per share, slightly above analyst estimates, while revenue rose 43.8% year over year to $4.19 billion. The company maintains strong liquidity, with a current ratio of 3.01.
• The company declared a quarterly dividend of $0.175 per share, equivalent to $0.70 annually and a 1.5% yield. Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $52.57.

TD Waterhouse Canada Inc. grew its holdings in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 13.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,087,570 shares of the gold and copper producer's stock after purchasing an additional 824,520 shares during the period. TD Waterhouse Canada Inc. owned about 0.43% of Barrick Mining worth $258,645,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in B. Concurrent Investment Advisors LLC boosted its stake in shares of Barrick Mining by 14.9% in the second quarter. Concurrent Investment Advisors LLC now owns 22,549 shares of the gold and copper producer's stock valued at $828,000 after purchasing an additional 2,918 shares during the period. Continuum Advisory LLC acquired a new stake in shares of Barrick Mining in the second quarter valued at $32,000. Nykredit A S purchased a new position in Barrick Mining in the second quarter valued at $3,917,000. PFG Private Wealth Management LLC grew its stake in Barrick Mining by 8.2% during the 2nd quarter. PFG Private Wealth Management LLC now owns 11,122 shares of the gold and copper producer's stock worth $409,000 after purchasing an additional 843 shares in the last quarter. Finally, Legacy Financial Advisors Inc. increased its holdings in Barrick Mining by 6.0% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 11,171 shares of the gold and copper producer's stock worth $410,000 after purchasing an additional 634 shares during the period. Institutional investors and hedge funds own 90.82% of the company's stock.

Barrick Mining Stock Performance

Shares of B stock opened at $47.70 on Friday. The stock's 50-day moving average is $38.85 and its two-hundred day moving average is $41.57. The firm has a market cap of $78.51 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 0.92 and a beta of 0.47. Barrick Mining Corporation has a 1 year low of $25.28 and a 1 year high of $54.69. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.36 and a current ratio of 3.01.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its earnings results on Monday, August 10th. The gold and copper producer reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.01. The business had revenue of $4.19 billion for the quarter, compared to analysts' expectations of $5.10 billion. Barrick Mining had a return on equity of 16.02% and a net margin of 31.60%.The business's revenue was up 43.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.47 earnings per share. Analysts predict that Barrick Mining Corporation will post 3.55 earnings per share for the current year.

Barrick Mining Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, August 31st. Barrick Mining's payout ratio is presently 18.04%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Barrick Mining from $50.00 to $52.00 and gave the company an "overweight" rating in a research note on Friday, August 14th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Barrick Mining in a report on Friday, August 7th. Barclays boosted their price target on shares of Barrick Mining from $39.00 to $42.00 and gave the stock an "equal weight" rating in a report on Thursday, August 13th. Wall Street Zen cut shares of Barrick Mining from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Finally, UBS Group decreased their price target on Barrick Mining from $54.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, Barrick Mining currently has a consensus rating of "Moderate Buy" and an average price target of $52.57.

Barrick Mining 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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