Hillsdale Investment Management Inc. Increases Stake in Barrick Mining Corporation $B

Key Points

• Hillsdale Investment Management increased its stake in Barrick Mining by 13.9% in Q1, adding 161,641 shares to bring its total to 1,327,142 shares worth about $54.2 million.
• Several other institutional investors also boosted their holdings, and hedge funds and other institutions own 90.82% of Barrick’s stock.
• Barrick recently posted strong earnings of $0.98 per share versus estimates of $0.80, but revenue missed expectations; analysts still rate the stock Moderate Buy with a consensus price target of $54.46.

Hillsdale Investment Management Inc. increased its stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 13.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,327,142 shares of the gold and copper producer's stock after purchasing an additional 161,641 shares during the period. Barrick Mining accounts for about 1.5% of Hillsdale Investment Management Inc.'s portfolio, making the stock its 11th largest position. Hillsdale Investment Management Inc. owned about 0.08% of Barrick Mining worth $54,223,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of B. Van ECK Associates Corp raised its holdings in shares of Barrick Mining by 22.8% during the fourth 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 last quarter. FIL Ltd boosted its holdings in Barrick Mining by 85.3% in 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 last quarter. Mackenzie Financial Corp grew its position 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 worth $909,104,000 after purchasing an additional 7,870,411 shares during the period. TD Asset Management Inc raised its stake in shares of Barrick Mining by 5.6% during the 4th quarter. TD Asset Management Inc now owns 20,395,667 shares of the gold and copper producer's stock valued at $889,627,000 after buying an additional 1,086,332 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in shares of Barrick Mining by 8.8% in the 4th quarter. CIBC Asset Management Inc now owns 19,902,944 shares of the gold and copper producer's stock valued at $869,964,000 after buying an additional 1,615,386 shares during the period. Hedge funds and other institutional investors own 90.82% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on B. Bank of America dropped their target price on Barrick Mining from $58.00 to $56.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. Canadian Imperial Bank of Commerce lowered their price objective on Barrick Mining to $63.00 and set an "outperformer" rating on the stock in a research report on Tuesday, April 21st. 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. Royal Bank Of Canada dropped their price objective on shares of Barrick Mining from $51.00 to $49.00 and set an "outperform" rating on the stock in a research note on Thursday. Finally, UBS Group cut their target price on shares of Barrick Mining from $54.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.46.

Barrick Mining Price Performance

NYSE:B opened at $35.92 on Tuesday. 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 Corporation has a 52 week low of $20.52 and a 52 week high of $54.69. The stock's 50-day moving average price is $40.09 and its 200-day moving average price is $43.28. The stock has a market capitalization of $59.76 billion, a PE ratio of 9.92, a price-to-earnings-growth ratio of 0.79 and a beta of 0.48.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released its quarterly earnings results on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 by $0.18. The company had revenue of $4.11 billion during the quarter, compared to analysts' expectations of $4.75 billion. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The business's revenue was up 66.7% compared to the same quarter last year. As a group, equities analysts expect that Barrick Mining Corporation will post 3.63 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

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

Barrick Mining Profile

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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