Barrick Mining Corporation $B Stock Position Boosted by Diversify Advisory Services LLC

Key Points

• Diversify Advisory Services increased its Barrick Mining position by 61.5% in the third quarter to 90,724 shares valued at approximately $3.68 million. Institutional investors collectively own 90.82% of the company.
• Analyst sentiment is mixed but leans positive: Barrick has a “Moderate Buy” consensus rating and a $52.59 average price target, despite downgrades from some firms and target-price cuts.
• Barrick reported quarterly revenue of $5.29 billion and EPS of $0.82, exceeding estimates, while paying a quarterly dividend of $0.175 per share. However, declining year-over-year attributable free cash flow remains a concern for investors.

Diversify Advisory Services LLC grew its position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 61.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 90,724 shares of the gold and copper producer's stock after buying an additional 34,547 shares during the period. Diversify Advisory Services LLC's holdings in Barrick Mining were worth $3,679,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of B. Groupe la Francaise lifted its position in Barrick Mining by 3.3% during the second quarter. Groupe la Francaise now owns 943,327 shares of the gold and copper producer's stock valued at $34,667,000 after purchasing an additional 29,816 shares during the period. NewEdge Advisors LLC grew its position in Barrick Mining by 231.3% in the 2nd quarter. NewEdge Advisors LLC now owns 138,414 shares of the gold and copper producer's stock worth $5,084,000 after purchasing an additional 96,636 shares during the period. Spark Investment Management LLC grew its position in Barrick Mining by 31.6% in the 2nd quarter. Spark Investment Management LLC now owns 50,000 shares of the gold and copper producer's stock worth $1,837,000 after purchasing an additional 12,000 shares during the period. Summit Securities Group LLC grew its position in Barrick Mining by 203.6% in the 1st quarter. Summit Securities Group LLC now owns 101,400 shares of the gold and copper producer's stock worth $4,136,000 after purchasing an additional 68,000 shares during the period. Finally, Independent Financial Group LLC bought a new stake in Barrick Mining in the 1st quarter worth approximately $2,202,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on B. Canadian Imperial Bank of Commerce downgraded Barrick Mining from a "sector outperform" rating to a "neutral" rating and dropped their price target for the stock from $57.00 to $49.00 in a research note on Friday, October 16th. Weiss Ratings raised Barrick Mining from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. Wall Street Zen cut Barrick Mining from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Bank of America reduced their price objective on Barrick Mining from $56.00 to $54.00 and set a "buy" rating for the company in a research report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. increased their target price on Barrick Mining from $52.00 to $55.00 and gave the company an "overweight" rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $52.59.

Key Stories Impacting Barrick Mining

Here are the key news stories impacting Barrick Mining this week:

• Positive Sentiment: Some analysts remain bullish. RBC Dominion Securities initiated an “outperform” rating with a $53 price target, while JPMorgan raised its target to $55 and maintained an “overweight” rating. These targets imply substantial upside from recent levels. RBC Dominion Securities rating JPMorgan rating
• Positive Sentiment: Potential longer-term catalysts include dividends, buybacks and production growth. Barrick’s strong balance sheet and exposure to elevated gold and copper prices could support a revaluation if production expands and capital returns improve. Barrick potential catalysts
• Neutral Sentiment: Analyst sentiment is divided. Barrick’s valuation remains supported by its profitable operations and prior earnings growth, but investors are awaiting the company’s upcoming third-quarter results for evidence that operating performance and cash generation are keeping pace with higher metals prices. Barrick earnings and cash flow analysis
• Negative Sentiment: Freedom Broker downgraded Barrick to “hold” from “buy” and cut its price target to $46 from $54. The firm cited lower near-term EBITDA forecasts, operational risks and valuation constraints. The downgrade contributed to broad weakness across major gold miners, including Barrick, Agnico Eagle and Newmont. Freedom Broker downgrade
• Negative Sentiment: Cash-flow concerns are tempering the earnings story. Although second-quarter net earnings rose sharply on stronger gold and copper prices, attributable free cash flow declined year over year, raising questions about cost control, capital spending and the durability of shareholder returns.

Barrick Mining Price Performance

NYSE:B opened at $38.65 on Friday. The company has a quick ratio of 2.36, a current ratio of 3.01 and a debt-to-equity ratio of 0.13. The business's 50-day simple moving average is $42.81 and its two-hundred day simple moving average is $40.91. The stock has a market cap of $63.18 billion, a PE ratio of 11.92, a P/E/G ratio of 1.27 and a beta of 0.48. Barrick Mining Corporation has a 52 week low of $30.98 and a 52 week high of $54.69.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its quarterly earnings results on Monday, August 10th. The gold and copper producer reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.01. The business had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.10 billion. Barrick Mining had a return on equity of 16.02% and a net margin of 31.60%. The firm's revenue for the quarter was up 43.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.47 EPS. As a group, analysts forecast that Barrick Mining Corporation will post 3.50 EPS for the current fiscal year.

Barrick Mining Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were given a dividend of $0.1750 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $0.70 annualized dividend and a dividend yield of 1.8%. Barrick Mining's payout ratio is currently 18.04%.

Barrick Mining Profile

Barrick Mining Corporation, formerly known as Barrick Gold Corporation, is a global mining company focused primarily on the exploration, development and production of gold and copper. Its activities include operating mines, advancing development projects and managing mineral reserves across multiple jurisdictions.

The company’s gold operations include Nevada Gold Mines in the United States, a joint venture in which Barrick is the operator, as well as mines and projects in Canada, the Dominican Republic, Mali, Côte d’Ivoire, Tanzania and the Democratic Republic of the Congo.

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