Barrick Mining Corporation (NYSE:B) Shares Bought by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp increased its stake in Barrick Mining Corporation by 1.9%, now owning about 0.91% of the company, valued at approximately $303 million.
• Barrick Mining reported a 0.35 EPS for the latest quarter, exceeding analysts' expectations, with a revenue increase of 13.9% year-over-year.
• The company has a dividend yield of 1.84% and a dividend payout ratio of 30.08%, with a recent quarterly dividend of $0.10.

Mackenzie Financial Corp grew its position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 1.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,614,848 shares of the gold and copper producer's stock after acquiring an additional 296,472 shares during the quarter. Mackenzie Financial Corp owned 0.91% of Barrick Mining worth $303,161,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Penserra Capital Management LLC raised its stake in Barrick Mining by 1,919.0% in the 1st quarter. Penserra Capital Management LLC now owns 2,968 shares of the gold and copper producer's stock valued at $56,000 after acquiring an additional 2,821 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Barrick Mining by 14.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 73,636 shares of the gold and copper producer's stock valued at $1,141,000 after purchasing an additional 9,149 shares during the period. Sequoia Financial Advisors LLC boosted its stake in shares of Barrick Mining by 24.4% during the first quarter. Sequoia Financial Advisors LLC now owns 20,795 shares of the gold and copper producer's stock valued at $404,000 after purchasing an additional 4,082 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Barrick Mining by 25.9% during the first quarter. Janney Montgomery Scott LLC now owns 291,281 shares of the gold and copper producer's stock valued at $5,663,000 after purchasing an additional 59,906 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in shares of Barrick Mining during the fourth quarter valued at approximately $19,505,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Mining Price Performance

B stock traded down $0.40 during midday trading on Wednesday, hitting $21.10. The company's stock had a trading volume of 11,379,772 shares, compared to its average volume of 19,989,652. The company has a quick ratio of 2.16, a current ratio of 2.87 and a debt-to-equity ratio of 0.14. The company has a 50 day moving average of $20.66 and a two-hundred day moving average of $19.06. Barrick Mining Corporation has a 12 month low of $15.11 and a 12 month high of $21.95. The firm has a market capitalization of $36.00 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 0.33 and a beta of 0.28.

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

Barrick Mining Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Friday, May 30th. Barrick Mining's dividend payout ratio is presently 30.08%.

Analyst Ratings Changes

A number of equities analysts recently commented on B shares. Royal Bank Of Canada set a $26.00 target price on Barrick Mining and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Scotiabank upped their target price on Barrick Mining from $20.00 to $22.00 and gave the company a "sector perform" rating in a report on Monday, April 14th. UBS Group upped their target price on Barrick Mining from $22.00 to $25.00 and gave the company a "buy" rating in a report on Friday, April 11th. Wall Street Zen upgraded Barrick Mining from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 5th. Finally, National Bankshares restated an "outperform" rating on shares of Barrick Mining in a research note on Wednesday, April 2nd. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.41.

Barrick Mining Company 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.