D.A. Davidson & CO. Raises Stock Holdings in Barrick Mining Corporation (NYSE:B)

D.A. Davidson & CO. raised its stake in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 72.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 170,527 shares of the gold and copper producer's stock after buying an additional 71,479 shares during the quarter. D.A. Davidson & CO.'s holdings in Barrick Mining were worth $3,315,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Capital International Investors increased its position in shares of Barrick Mining by 136.1% in the fourth quarter. Capital International Investors now owns 33,293,792 shares of the gold and copper producer's stock worth $516,055,000 after purchasing an additional 19,189,830 shares during the last quarter. Causeway Capital Management LLC bought a new position in shares of Barrick Mining in the 4th quarter worth $172,225,000. Wellington Management Group LLP raised its position in shares of Barrick Mining by 17.5% during the 4th quarter. Wellington Management Group LLP now owns 64,310,800 shares of the gold and copper producer's stock valued at $996,802,000 after buying an additional 9,598,292 shares in the last quarter. FIL Ltd raised its position in shares of Barrick Mining by 236.7% during the 4th quarter. FIL Ltd now owns 6,815,946 shares of the gold and copper producer's stock valued at $105,692,000 after buying an additional 4,791,663 shares in the last quarter. Finally, Capital International Inc. CA bought a new stake in shares of Barrick Mining during the 4th quarter worth $57,991,000. 90.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Citigroup lowered their price target on Barrick Mining from $21.00 to $17.00 and set a "neutral" rating on the stock in a research report on Monday, March 31st. BMO Capital Markets assumed coverage on Barrick Mining in a report on Wednesday, April 16th. They set a "market perform" rating on the stock. UBS Group upped their target price on Barrick Mining from $22.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. CIBC lifted their price target on shares of Barrick Mining from $22.00 to $24.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 11th. Finally, National Bank Financial upgraded shares of Barrick Mining to a "hold" rating in a report on Friday, March 21st. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Barrick Mining presently has a consensus rating of "Moderate Buy" and an average target price of $24.05.

Barrick Mining Trading Up 0.7%

Shares of Barrick Mining stock traded up $0.15 during trading on Monday, reaching $21.61. 9,899,713 shares of the stock were exchanged, compared to its average volume of 3,871,814. The firm has a market cap of $37.05 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 0.34 and a beta of 0.28. The stock's fifty day moving average is $19.74 and its 200 day moving average is $18.42. Barrick Mining Corporation has a 1 year low of $17.41 and a 1 year high of $47.50. The company has a quick ratio of 2.16, a current ratio of 2.87 and a debt-to-equity ratio of 0.14.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last announced its earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.06. Barrick Mining had a net margin of 17.46% and a return on equity of 7.51%. The firm had revenue of $3 billion for the quarter, compared to analysts' expectations of $3.15 billion. During the same quarter in the previous year, the business posted $0.19 EPS. The company's quarterly revenue was up 13.9% on a year-over-year basis. As a group, equities research analysts expect that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.85%. The ex-dividend date was Friday, May 30th. Barrick Mining's dividend payout ratio is presently 30.08%.

Barrick Mining Profile

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.   In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.