Blue Trust Inc. Purchases 13,554 Shares of Barrick Mining Corporation (NYSE:B)

Blue Trust Inc. raised its holdings in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 54.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,665 shares of the gold and copper producer's stock after purchasing an additional 13,554 shares during the period. Blue Trust Inc.'s holdings in Barrick Mining were worth $752,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Capital International Investors increased its holdings in Barrick Mining by 136.1% during the 4th quarter. Capital International Investors now owns 33,293,792 shares of the gold and copper producer's stock worth $516,055,000 after acquiring an additional 19,189,830 shares during the period. Causeway Capital Management LLC purchased a new position in Barrick Mining during the fourth quarter worth about $172,225,000. Wellington Management Group LLP increased its stake in Barrick Mining by 17.5% in the 4th quarter. Wellington Management Group LLP now owns 64,310,800 shares of the gold and copper producer's stock worth $996,802,000 after acquiring an additional 9,598,292 shares during the last quarter. FIL Ltd boosted 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 acquiring an additional 4,791,663 shares during the last quarter. Finally, Capital International Inc. CA purchased a new position in shares of Barrick Mining during the fourth quarter worth about $57,991,000. Hedge funds and other institutional investors own 90.82% of the company's stock.

Barrick Mining Trading Down 0.7%

NYSE:B traded down $0.15 during midday trading on Friday, reaching $20.98. 16,368,611 shares of the stock traded hands, compared to its average volume of 3,307,345. The stock has a market capitalization of $35.97 billion, a P/E ratio of 15.78, a PEG ratio of 0.35 and a beta of 0.27. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.16 and a current ratio of 2.87. The company has a fifty day moving average of $19.53 and a 200 day moving average of $18.10. Barrick Mining Corporation has a 12 month low of $17.41 and a 12 month high of $47.50.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share for the quarter, topping 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 company had revenue of $3 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period in the prior year, the business posted $0.19 earnings per share. Barrick Mining's revenue for the quarter was up 13.9% on a year-over-year basis. On average, research analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.91%. Barrick Mining's dividend payout ratio is currently 30.08%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on B shares. Raymond James Financial lifted their target price on shares of Barrick Mining from $23.00 to $23.50 and gave the company an "outperform" rating in a research report on Monday, March 31st. CIBC lifted their price objective on shares of Barrick Mining from $22.00 to $24.00 and gave the stock a "neutral" rating in a report on Wednesday, June 11th. BMO Capital Markets began coverage on shares of Barrick Mining in a research report on Wednesday, April 16th. They issued a "market perform" rating for the company. Scotiabank raised their price target on Barrick Mining from $20.00 to $22.00 and gave the company a "sector perform" rating in a research report on Monday, April 14th. Finally, National Bankshares reiterated an "outperform" rating on shares of Barrick Mining in a report on Wednesday, April 2nd. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $24.05.

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.