First Trust Advisors LP Increases Stock Holdings in Barrick Mining Corporation $B

Key Points

• First Trust Advisors increased its Barrick Mining stake by 34% in the first quarter, bringing its holdings to 197,806 shares valued at approximately $8.1 million. Institutional investors collectively own 90.82% of the company.
• Barrick reported first-quarter adjusted earnings of $0.98 per share, exceeding estimates of $0.80, while revenue rose 66.7% year over year to $4.11 billion, though it fell short of the $4.75 billion consensus.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $52.46, despite several recent target reductions. The company pays a quarterly dividend of $0.175, representing a 1.9% yield.

First Trust Advisors LP raised its stake in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 34.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 197,806 shares of the gold and copper producer's stock after purchasing an additional 50,223 shares during the quarter. First Trust Advisors LP's holdings in Barrick Mining were worth $8,078,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Financial Consulate Inc. boosted its stake in shares of 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 valued at $25,000 after purchasing an additional 521 shares in the last quarter. Westside Investment Management Inc. purchased a new stake in Barrick Mining in the fourth quarter worth about $25,000. Intesa Sanpaolo Wealth Management bought a new stake in Barrick Mining during the 4th quarter valued at approximately $26,000. Ascentis Independent Advisors purchased a new position in shares of Barrick Mining during the 1st quarter worth approximately $28,000. Finally, JPL Wealth Management LLC bought a new position in shares of Barrick Mining in the 3rd quarter worth approximately $28,000. 90.82% of the stock is currently owned by institutional investors.

Barrick Mining Price Performance

B stock opened at $36.73 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.44 and a current ratio of 3.06. The firm has a 50 day moving average price of $38.49 and a 200-day moving average price of $42.40. Barrick Mining Corporation has a 52-week low of $20.94 and a 52-week high of $54.69. The firm has a market capitalization of $60.45 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 0.78 and a beta of 0.48.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its quarterly earnings results on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $4.75 billion. The business's revenue was up 66.7% compared to the same quarter last year. Equities research analysts forecast that Barrick Mining Corporation will post 3.57 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were issued a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Friday, May 29th. Barrick Mining's payout ratio is 19.34%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Royal Bank Of Canada lowered their target price on Barrick Mining from $51.00 to $49.00 and set an "outperform" rating for the company in a research note on Thursday, July 9th. Barclays reduced their price target on Barrick Mining from $41.00 to $39.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 15th. UBS Group lowered their price objective on Barrick Mining from $54.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday, June 30th. Wall Street Zen lowered Barrick Mining from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 25th. Finally, Bank of America dropped their target price on shares of Barrick Mining from $58.00 to $56.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $52.46.

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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