Catalyst Capital Advisors LLC Raises Stock Holdings in Barrick Mining Corporation $B

Key Points

• Catalyst Capital Advisors massively increased its stake in Barrick Mining, raising holdings by 1,654.4% in Q1 to 50,000 shares valued at about $2.04 million.
• Institutional ownership remains very high, with hedge funds and other investors holding 90.82% of Barrick’s stock. Several other firms also boosted positions during the latest quarter.
• Analysts still lean positive on Barrick despite some lower price targets, with a consensus rating of “Moderate Buy” and an average target price of $53.85 versus a recent share price of $34.93.

Catalyst Capital Advisors LLC boosted its position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 1,654.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,000 shares of the gold and copper producer's stock after purchasing an additional 47,150 shares during the quarter. Catalyst Capital Advisors LLC's holdings in Barrick Mining were worth $2,040,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in B. Van ECK Associates Corp increased its position in shares of Barrick Mining by 22.8% during the fourth quarter. Van ECK Associates Corp now owns 55,423,240 shares of the gold and copper producer's stock valued at $2,413,699,000 after acquiring an additional 10,287,544 shares in the last quarter. FIL Ltd increased its holdings in Barrick Mining by 85.3% in the 4th quarter. FIL Ltd now owns 30,099,422 shares of the gold and copper producer's stock worth $1,311,169,000 after buying an additional 13,853,587 shares in the last quarter. Mackenzie Financial Corp raised its position in Barrick Mining by 61.9% in the 4th quarter. Mackenzie Financial Corp now owns 20,591,745 shares of the gold and copper producer's stock worth $909,104,000 after buying an additional 7,870,411 shares during the last quarter. TD Asset Management Inc lifted its stake in Barrick Mining by 5.6% during the 4th quarter. TD Asset Management Inc now owns 20,395,667 shares of the gold and copper producer's stock valued at $889,627,000 after acquiring an additional 1,086,332 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in shares of Barrick Mining by 8.8% during the 4th quarter. CIBC Asset Management Inc now owns 19,902,944 shares of the gold and copper producer's stock valued at $869,964,000 after acquiring an additional 1,615,386 shares during the last quarter. Hedge funds and other institutional investors own 90.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Royal Bank Of Canada lowered their price objective on shares of Barrick Mining from $51.00 to $49.00 and set an "outperform" rating on the stock in a research report on Thursday, July 9th. Scotiabank lowered their price target on Barrick Mining from $63.00 to $57.00 and set a "sector outperform" rating on the stock in a report on Tuesday. Weiss Ratings downgraded Barrick Mining from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, May 11th. ATB Cormark Capital Markets cut Barrick Mining from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 7th. Finally, Canadian Imperial Bank of Commerce dropped their target price on 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, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $53.85.

Barrick Mining Trading Up 0.2%

Shares of B stock opened at $34.93 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.06 and a quick ratio of 2.44. The company has a market cap of $58.10 billion, a price-to-earnings ratio of 9.65, a PEG ratio of 0.75 and a beta of 0.48. Barrick Mining Corporation has a 1 year low of $20.68 and a 1 year high of $54.69. The firm has a fifty day moving average price of $39.63 and a 200-day moving average price of $43.01.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last announced its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.18. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The company had revenue of $4.11 billion for the quarter, compared to analysts' expectations of $4.75 billion. Barrick Mining's quarterly revenue was up 66.7% on a year-over-year basis. As a group, equities analysts predict that Barrick Mining Corporation will post 3.63 earnings per share for the current year.

Barrick Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, May 29th. Barrick Mining's payout ratio is presently 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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