Callan Capital LLC Makes New Investment in Barrick Mining Corporation (NYSE:B)

Callan Capital LLC purchased a new position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,243 shares of the gold and copper producer's stock, valued at approximately $277,000.

A number of other institutional investors also recently bought and sold shares of B. Capital International Investors increased its stake 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. Causeway Capital Management LLC purchased a new stake in Barrick Mining in the fourth quarter worth $172,225,000. Wellington Management Group LLP increased its stake 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. FIL Ltd increased its stake in Barrick Mining by 236.7% in the fourth quarter. FIL Ltd now owns 6,815,946 shares of the gold and copper producer's stock worth $105,692,000 after purchasing an additional 4,791,663 shares during the period. Finally, Capital International Inc. CA purchased a new stake in Barrick Mining in the fourth quarter worth $57,991,000. 90.82% of the stock is currently owned by institutional investors.

Barrick Mining Stock Up 0.8%

B stock traded up $0.16 during trading on Thursday, reaching $21.06. 7,434,070 shares of the company traded hands, compared to its average volume of 4,034,445. Barrick Mining Corporation has a 12 month low of $17.41 and a 12 month high of $47.50. The business has a 50 day simple moving average of $19.86 and a 200 day simple moving average of $18.50. The company has a market capitalization of $36.10 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 0.33 and a beta of 0.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.16 and a current ratio of 2.87.

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

Wall Street Analyst Weigh In

B has been the topic of a number of recent analyst reports. Stifel Canada upgraded Barrick Mining to a "strong-buy" rating in a research note on Wednesday, March 19th. UBS Group raised their price target on Barrick Mining from $22.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, April 11th. National Bank Financial upgraded Barrick Mining to a "hold" rating in a research note on Friday, March 21st. National Bankshares restated an "outperform" rating on shares of Barrick Mining in a research note on Wednesday, April 2nd. Finally, Wall Street Zen upgraded Barrick Mining from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 5th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $24.05.

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.