Envestnet Asset Management Inc. Boosts Position in Barrick Mining Corporation (NYSE:B)

Envestnet Asset Management Inc. grew its stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 18.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 828,666 shares of the gold and copper producer's stock after acquiring an additional 126,643 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Barrick Mining were worth $16,109,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Penserra Capital Management LLC grew its stake in shares of Barrick Mining by 1,919.0% in the first quarter. Penserra Capital Management LLC now owns 2,968 shares of the gold and copper producer's stock valued at $56,000 after buying an additional 2,821 shares in the last quarter. Oppenheimer & Close LLC lifted its holdings in Barrick Mining by 264.0% during the 1st quarter. Oppenheimer & Close LLC now owns 113,936 shares of the gold and copper producer's stock worth $2,215,000 after buying an additional 82,636 shares during the last quarter. Meridian Investment Counsel Inc. lifted its holdings in Barrick Mining by 5.5% during the 1st quarter. Meridian Investment Counsel Inc. now owns 68,866 shares of the gold and copper producer's stock worth $1,339,000 after buying an additional 3,600 shares during the last quarter. HM Payson & Co. lifted its holdings in Barrick Mining by 5,000.0% during the 1st quarter. HM Payson & Co. now owns 5,100 shares of the gold and copper producer's stock worth $99,000 after buying an additional 5,000 shares during the last quarter. Finally, Avantax Planning Partners Inc. bought a new stake in shares of Barrick Mining in the 1st quarter worth approximately $211,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Barrick Mining Stock Performance

B stock opened at $20.81 on Friday. The business's fifty day moving average is $20.13 and its 200-day moving average is $18.72. 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 market cap of $35.51 billion, a P/E ratio of 15.65, a price-to-earnings-growth ratio of 0.34 and a beta of 0.28. Barrick Mining Corporation has a twelve month low of $17.41 and a twelve month high of $47.50.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released its earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.06. The firm had revenue of $3 billion during the quarter, compared to analysts' expectations of $3.15 billion. Barrick Mining had a return on equity of 7.51% and a net margin of 17.46%. The company's revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 EPS. Equities research analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend was Friday, May 30th. Barrick Mining's payout ratio is currently 30.08%.

Analyst Ratings Changes

Several analysts recently commented on the company. CIBC raised their target price on Barrick Mining from $24.00 to $28.00 and gave the company a "neutral" rating in a research report on Tuesday. Royal Bank Of Canada set a $26.00 target price on Barrick Mining and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. National Bank Financial upgraded Barrick Mining to a "hold" rating in a research report on Friday, March 21st. National Bankshares restated an "outperform" rating on shares of Barrick Mining in a research report on Wednesday, April 2nd. Finally, Scotiabank lifted their price target on Barrick Mining from $20.00 to $22.00 and gave the company a "sector perform" rating in a research report on Monday, April 14th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Barrick Mining currently has an average rating of "Moderate Buy" and an average target price of $24.41.

About Barrick Mining

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.

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