Hillsdale Investment Management Inc. Buys 78,750 Shares of Barrick Mining Corporation $B

Key Points

• Hillsdale Investment Management increased its stake in Barrick Mining by 7.2% in the fourth quarter, buying 78,750 additional shares and bringing its total to 1,165,501 shares valued at about $50.9 million.
• Barrick reported strong quarterly earnings of $0.98 per share, beating estimates, though revenue of $4.11 billion came in below expectations despite rising 66.7% from a year earlier.
• The company cut its dividend to $0.175 per quarter, while analysts currently rate the stock a Moderate Buy with an average price target of $53.46.

Hillsdale Investment Management Inc. boosted its stake in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 7.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,165,501 shares of the gold and copper producer's stock after buying an additional 78,750 shares during the period. Barrick Mining makes up approximately 1.4% of Hillsdale Investment Management Inc.'s holdings, making the stock its 10th biggest holding. Hillsdale Investment Management Inc. owned 0.07% of Barrick Mining worth $50,861,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Bogart Wealth LLC raised its holdings in Barrick Mining by 3.5% during the 4th quarter. Bogart Wealth LLC now owns 6,442 shares of the gold and copper producer's stock worth $281,000 after buying an additional 218 shares during the period. Mmbg Investment Advisors CO. raised its holdings in Barrick Mining by 0.6% during the 4th quarter. Mmbg Investment Advisors CO. now owns 43,454 shares of the gold and copper producer's stock worth $1,892,000 after buying an additional 254 shares during the period. S.A. Mason LLC raised its holdings in Barrick Mining by 1.3% during the 4th quarter. S.A. Mason LLC now owns 23,114 shares of the gold and copper producer's stock worth $1,007,000 after buying an additional 300 shares during the period. Sequoia Financial Advisors LLC raised its holdings in Barrick Mining by 1.0% during the 4th quarter. Sequoia Financial Advisors LLC now owns 31,212 shares of the gold and copper producer's stock worth $1,359,000 after buying an additional 302 shares during the period. Finally, Legacy Financial Advisors Inc. raised its holdings in Barrick Mining by 3.9% during the 4th quarter. Legacy Financial Advisors Inc. now owns 8,569 shares of the gold and copper producer's stock worth $373,000 after buying an additional 319 shares during the period. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Barrick Mining Price Performance

Shares of B opened at $42.63 on Friday. The stock has a market capitalization of $71.42 billion, a P/E ratio of 11.77, a P/E/G ratio of 1.10 and a beta of 0.41. Barrick Mining Corporation has a twelve month low of $18.83 and a twelve month high of $54.69. The company has a 50 day moving average of $41.17 and a 200-day moving average of $43.58. The company has a quick ratio of 2.44, a current ratio of 3.06 and a debt-to-equity ratio of 0.13.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.18. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. The business had revenue of $4.11 billion during the quarter, compared to analysts' expectations of $4.75 billion. Barrick Mining's quarterly revenue was up 66.7% compared to the same quarter last year. As a group, equities research analysts forecast that Barrick Mining Corporation will post 3.78 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be paid a $0.175 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.70 annualized dividend and a dividend yield of 1.6%. Barrick Mining's dividend payout ratio (DPR) is currently 46.41%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Canadian Imperial Bank of Commerce decreased their price target on shares of Barrick Mining to $63.00 and set an "outperformer" rating for the company in a research note on Tuesday, April 21st. UBS Group raised their price target on shares of Barrick Mining from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Tuesday, May 12th. Weiss Ratings cut shares of Barrick Mining from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, May 11th. Wall Street Zen raised shares of Barrick Mining from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 7th. Finally, ATB Cormark Capital Markets cut shares of Barrick Mining from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Barrick Mining presently has an average rating of "Moderate Buy" and an average price target of $53.46.

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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