BW Gestao de Investimentos Ltda. Acquires 205,959 Shares of Barrick Mining Corporation $B

Key Points

• BW Gestao de Investimentos Ltda. increased its stake in Barrick Mining by 206% in the fourth quarter, buying 205,959 additional shares and bringing its total holdings to 305,959 shares worth about $13.3 million.
• Barrick Mining’s latest quarterly results beat earnings expectations, posting $0.98 EPS versus the $0.80 estimate, though revenue of $4.11 billion came in below forecasts.
• The company announced a quarterly dividend of $0.175 per share, implying an annualized payout of $0.70 and a dividend yield of 1.7%.

BW Gestao de Investimentos Ltda. grew its holdings in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 206.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 305,959 shares of the gold and copper producer's stock after purchasing an additional 205,959 shares during the quarter. BW Gestao de Investimentos Ltda.'s holdings in Barrick Mining were worth $13,325,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Bogart Wealth LLC raised its holdings in shares of Barrick Mining by 3.5% during the 4th quarter. Bogart Wealth LLC now owns 6,442 shares of the gold and copper producer's stock valued at $281,000 after purchasing an additional 218 shares in the last quarter. Mmbg Investment Advisors CO. grew its stake in Barrick Mining by 0.6% in the 4th quarter. Mmbg Investment Advisors CO. now owns 43,454 shares of the gold and copper producer's stock valued at $1,892,000 after buying an additional 254 shares during the last quarter. S.A. Mason LLC grew its stake in Barrick Mining by 1.3% in the 4th quarter. S.A. Mason LLC now owns 23,114 shares of the gold and copper producer's stock valued at $1,007,000 after buying an additional 300 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in Barrick Mining by 1.0% in the 4th quarter. Sequoia Financial Advisors LLC now owns 31,212 shares of the gold and copper producer's stock valued at $1,359,000 after buying an additional 302 shares during the last quarter. Finally, Legacy Financial Advisors Inc. grew its stake in Barrick Mining by 3.9% in the 4th quarter. Legacy Financial Advisors Inc. now owns 8,569 shares of the gold and copper producer's stock valued at $373,000 after buying an additional 319 shares during the last quarter. Institutional investors own 90.82% of the company's stock.

Analyst Upgrades and Downgrades

B has been the topic of several research analyst reports. Weiss Ratings lowered shares of Barrick Mining from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, May 11th. Wall Street Zen upgraded shares of Barrick Mining from a "buy" rating to a "strong-buy" rating in a research report on Saturday, February 7th. Barclays initiated coverage on shares of Barrick Mining in a research report on Thursday, May 21st. They issued an "equal weight" rating and a $41.00 price target on the stock. Citigroup raised their price target on shares of Barrick Mining from $38.00 to $48.00 and gave the stock a "neutral" rating in a research report on Monday, February 9th. Finally, Canadian Imperial Bank of Commerce decreased their price target on shares of Barrick Mining to $63.00 and set an "outperformer" rating on the stock in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Barrick Mining currently has a consensus rating of "Moderate Buy" and a consensus target price of $53.46.

Barrick Mining Price Performance

NYSE:B opened at $42.35 on Tuesday. The firm has a market cap of $70.96 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 1.13 and a beta of 0.43. Barrick Mining Corporation has a 12 month low of $19.43 and a 12 month high of $54.69. The company has a quick ratio of 2.44, a current ratio of 3.06 and a debt-to-equity ratio of 0.13. The company's 50-day moving average price is $41.25 and its two-hundred day moving average price is $43.69.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released its quarterly earnings results on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.18. The firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.75 billion. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. The firm's revenue for the quarter was up 66.7% on a year-over-year basis. On average, equities analysts anticipate that Barrick Mining Corporation will post 3.78 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be paid a $0.175 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.7%. Barrick Mining's payout ratio is currently 19.34%.

Barrick Mining Profile

Barrick Gold Corporation, commonly known as Barrick, is a Toronto‑headquartered mining company focused on the exploration, development, production and sale of gold and copper. Listed on major exchanges (including the New York Stock Exchange under the symbol B), Barrick operates as an integrated minerals producer, running large‑scale mining complexes, processing facilities and related support services for extraction and metallurgical treatment of ore.

The company's activities span the full mining value chain: greenfield exploration, feasibility and permitting, mine construction, ongoing operations, and closure and reclamation.

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