Concurrent Investment Advisors LLC Increases Stake in Barrick Mining Corporation $B

Key Points

• Concurrent Investment Advisors LLC increased its holdings by 322.8% in Q4, buying 53,219 shares to own 69,704 shares of Barrick worth about $3.04 million.
• Barrick beat Q4 expectations, reporting EPS of $1.04 vs. $0.85 consensus and revenue of $5.98 billion (up 44.6% YoY), and raised its quarterly dividend to $0.42 (annualized $1.68, ~4.1% yield).
• Market and analyst backdrop: the stock trades around $40.67 with a $68.15 billion market cap and 13.9x PE, and analysts’ consensus is a "Moderate Buy" with an average price target of $54.17.

Concurrent Investment Advisors LLC increased its holdings in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 322.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 69,704 shares of the gold and copper producer's stock after buying an additional 53,219 shares during the period. Concurrent Investment Advisors LLC's holdings in Barrick Mining were worth $3,036,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Financial Consulate Inc. increased its stake in Barrick Mining by 1,042.0% during the 4th quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer's stock worth $25,000 after buying an additional 521 shares during the period. Westside Investment Management Inc. purchased a new stake in Barrick Mining during the 4th quarter worth approximately $25,000. Arlington Trust Co LLC purchased a new stake in Barrick Mining during the 3rd quarter worth approximately $26,000. JPL Wealth Management LLC purchased a new stake in Barrick Mining during the 3rd quarter worth approximately $28,000. Finally, Pin Oak Investment Advisors Inc. purchased a new stake in Barrick Mining during the 3rd quarter worth approximately $31,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Mining Trading Down 1.0%

NYSE B opened at $40.67 on Tuesday. The company has a quick ratio of 2.33, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. Barrick Mining Corporation has a 52 week low of $17.41 and a 52 week high of $54.69. The stock has a market capitalization of $68.15 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 1.51 and a beta of 0.50. The firm has a 50 day moving average of $43.39 and a two-hundred day moving average of $42.30.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last issued its earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.19. Barrick Mining had a net margin of 29.45% and a return on equity of 12.10%. The business had revenue of $5.98 billion during the quarter, compared to analysts' expectations of $5.15 billion. The company's revenue was up 44.6% on a year-over-year basis. As a group, research analysts expect that Barrick Mining Corporation will post 3.55 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 27th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Friday, February 27th. This is a positive change from Barrick Mining's previous quarterly dividend of $0.18. Barrick Mining's dividend payout ratio (DPR) is currently 57.34%.

Wall Street Analysts Forecast Growth

Several research firms have commented on B. Canaccord Genuity Group lowered their price target on shares of Barrick Mining to $77.00 and set a "buy" rating for the company in a report on Wednesday, February 18th. Zacks Research cut shares of Barrick Mining from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 13th. Scotiabank boosted their price target on shares of Barrick Mining from $43.00 to $63.00 and gave the stock an "outperform" rating in a report on Monday, January 26th. Canadian Imperial Bank of Commerce lowered their price target on shares of Barrick Mining to $63.00 and set an "outperformer" rating for the company in a report on Tuesday, April 21st. Finally, DZ Bank upgraded shares of Barrick Mining to a "strong-buy" rating in a report on Monday, January 19th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $54.17.

About Barrick Mining

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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