Groupe la Francaise Buys 261,012 Shares of Barrick Mining Corporation $B

Key Points

• Groupe la Francaise increased its Barrick Mining stake by 40% in the first quarter, buying 261,012 shares and bringing its holdings to 913,511 shares valued at approximately $37.1 million.
• Institutional ownership remains high at 90.82%, with major investors including FIL, VanECK, and Mackenzie Financial also expanding their positions.
• Barrick beat first-quarter EPS estimates, reporting $0.98 versus the $0.80 consensus, while revenue rose 66.7% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $52.46, despite some recent target reductions.

Groupe la Francaise grew its stake in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 40.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 913,511 shares of the gold and copper producer's stock after acquiring an additional 261,012 shares during the quarter. Groupe la Francaise owned about 0.05% of Barrick Mining worth $37,148,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. FIL Ltd lifted its position in Barrick Mining by 85.3% during the fourth quarter. FIL Ltd now owns 30,099,422 shares of the gold and copper producer's stock valued at $1,311,169,000 after purchasing an additional 13,853,587 shares during the period. Van ECK Associates Corp grew its position in Barrick Mining by 22.8% in the 4th quarter. Van ECK Associates Corp now owns 55,423,240 shares of the gold and copper producer's stock worth $2,413,699,000 after purchasing an additional 10,287,544 shares during the period. Ameriprise Financial Inc. bought a new stake in Barrick Mining in the 2nd quarter worth approximately $211,263,000. Canada Pension Plan Investment Board purchased a new stake in Barrick Mining during the 2nd quarter valued at $172,230,000. Finally, Mackenzie Financial Corp raised its stake in Barrick Mining by 61.9% during the 4th quarter. Mackenzie Financial Corp now owns 20,591,745 shares of the gold and copper producer's stock valued at $909,104,000 after buying an additional 7,870,411 shares during the last quarter. 90.82% of the stock is currently owned by institutional investors.

Barrick Mining Stock Up 3.6%

B opened at $37.66 on Friday. The firm's 50 day simple moving average is $38.57 and its two-hundred day simple moving average is $42.44. The company has a market capitalization of $62.65 billion, a PE ratio of 10.40, a PEG ratio of 0.77 and a beta of 0.48. Barrick Mining Corporation has a 1-year low of $20.94 and a 1-year high of $54.69. The company has a current ratio of 3.06, a quick ratio of 2.44 and a debt-to-equity ratio of 0.13.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last issued its quarterly earnings data on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.18. The firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.75 billion. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. The business's revenue was up 66.7% on a year-over-year basis. As a group, equities analysts forecast that Barrick Mining Corporation will post 3.57 EPS for the current year.

Barrick Mining Cuts Dividend

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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Bank of America dropped their price target on Barrick Mining from $58.00 to $56.00 and set a "buy" rating on the stock in a research note on Thursday, July 9th. Scotiabank reduced their price objective on Barrick Mining from $63.00 to $57.00 and set a "sector outperform" rating for the company in a research report on Tuesday, July 14th. Weiss Ratings downgraded Barrick Mining from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, May 11th. Citigroup reissued a "positive" rating on shares of Barrick Mining in a research report on Wednesday, July 15th. Finally, ATB Cormark Capital Markets downgraded Barrick Mining from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target 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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