Barrick Mining Corporation (NYSE:B) Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund lifted its position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 15.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 194,806 shares of the gold and copper producer's stock after acquiring an additional 26,170 shares during the period. New York State Common Retirement Fund's holdings in Barrick Mining were worth $3,787,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in Barrick Mining by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 68,358,533 shares of the gold and copper producer's stock valued at $1,060,036,000 after acquiring an additional 1,195,585 shares during the period. Wellington Management Group LLP lifted its position in Barrick Mining by 17.5% in the fourth quarter. Wellington Management Group LLP now owns 64,310,800 shares of the gold and copper producer's stock worth $996,802,000 after purchasing an additional 9,598,292 shares during the period. Capital International Investors lifted its position in 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 period. Mackenzie Financial Corp lifted its position in Barrick Mining by 1.9% in the fourth quarter. Mackenzie Financial Corp now owns 15,318,376 shares of the gold and copper producer's stock worth $237,280,000 after purchasing an additional 278,292 shares during the period. Finally, Causeway Capital Management LLC acquired a new stake in Barrick Mining in the fourth quarter worth approximately $172,225,000. 90.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on B shares. CIBC lifted their price target on shares of Barrick Mining from $24.00 to $28.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Royal Bank Of Canada set a $26.00 price target on shares of Barrick Mining and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Raymond James Financial lifted their price target on shares of Barrick Mining from $23.00 to $23.50 and gave the stock an "outperform" rating in a research report on Monday, March 31st. 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. Finally, Citigroup reduced their price target on shares of Barrick Mining from $21.00 to $17.00 and set a "neutral" rating for the company in a research report on Monday, March 31st. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $24.41.

Barrick Mining Stock Performance

B opened at $21.75 on Wednesday. The stock has a market cap of $37.10 billion, a PE ratio of 16.35, a P/E/G ratio of 0.34 and a beta of 0.28. The company has a current ratio of 2.87, a quick ratio of 2.16 and a debt-to-equity ratio of 0.14. Barrick Mining Corporation has a 1 year low of $17.41 and a 1 year high of $47.50. The stock's 50 day simple moving average is $20.17 and its 200-day simple moving average is $18.80.

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 EPS for the quarter, topping the consensus estimate of $0.29 by $0.06. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.15 billion. Barrick Mining had a return on equity of 7.51% and a net margin of 17.46%. Barrick Mining's revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the company earned $0.19 EPS. Sell-side analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were given a dividend of $0.10 per share. The ex-dividend date was Friday, May 30th. This represents a $0.40 dividend on an annualized basis and a yield of 1.84%. Barrick Mining's dividend payout ratio (DPR) 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.

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