Independent Advisor Alliance Buys 38,523 Shares of Barrick Mining Corporation $B

Key Points

• Independent Advisor Alliance sharply increased its Barrick Mining stake by 355.1% in Q4, buying 38,523 additional shares and bringing its total holdings to 49,372 shares worth about $2.15 million.
• Barrick recently delivered a strong first quarter, beating EPS expectations with $0.98 per share and posting 66.7% year-over-year revenue growth, though revenue still came in below analyst forecasts.
• The company also approved a $3 billion share buyback and declared a quarterly dividend of $0.175 per share, reflecting management’s confidence in the business and a direct return of capital to shareholders.

Independent Advisor Alliance lifted its stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 355.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,372 shares of the gold and copper producer's stock after acquiring an additional 38,523 shares during the period. Independent Advisor Alliance's holdings in Barrick Mining were worth $2,150,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. CW Advisors LLC purchased a new position in Barrick Mining during the second quarter worth about $283,000. EverSource Wealth Advisors LLC purchased a new position in Barrick Mining during the second quarter worth about $53,000. First Trust Advisors LP purchased a new position in Barrick Mining during the second quarter worth about $857,000. Baird Financial Group Inc. purchased a new position in Barrick Mining during the second quarter worth about $2,569,000. Finally, Cresset Asset Management LLC purchased a new position in Barrick Mining during the second quarter worth about $543,000. 90.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

B has been the subject of several recent analyst reports. ATB Cormark Capital Markets cut Barrick Mining from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 7th. Weiss Ratings cut Barrick Mining from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday. DZ Bank upgraded Barrick Mining to a "strong-buy" rating in a research report on Monday, January 19th. Canaccord Genuity Group reduced their target price on Barrick Mining to $77.00 and set a "buy" rating for the company in a research report on Wednesday, February 18th. Finally, Canadian Imperial Bank of Commerce reduced their target price on Barrick Mining to $63.00 and set an "outperformer" rating for the company in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Barrick Mining has a consensus rating of "Moderate Buy" and an average price target of $54.50.

Barrick Mining News Summary

Here are the key news stories impacting Barrick Mining this week:

• Positive Sentiment: Barrick reported a strong first quarter, with gold production and cash flow growth helping it top expectations and reinforcing confidence in operational execution.
• Positive Sentiment: The company approved a $3 billion stock buyback plan, signaling management sees value in the shares and giving investors a direct return of capital.
• Positive Sentiment: Several recent commentaries argue Barrick still looks undervalued based on its large gold reserve base and high gold prices, which could support further upside if bullion stays elevated. Article Title
• Neutral Sentiment: Barrick also announced the election of directors and related annual meeting voting results, a routine governance update that is unlikely to materially affect the stock. Article Title
• Negative Sentiment: Some analysts now say the rally may be getting more balanced after the recent run-up, with valuation looking less compelling following the strong earnings-driven move. Article Title

Barrick Mining Trading Down 3.8%

Shares of B stock opened at $43.15 on Friday. The company has a quick ratio of 2.33, a current ratio of 3.06 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $41.89 and a two-hundred day moving average price of $42.99. Barrick Mining Corporation has a 12-month low of $17.41 and a 12-month high of $54.69. The firm has a market cap of $72.29 billion, a P/E ratio of 11.92, a price-to-earnings-growth ratio of 1.31 and a beta of 0.41.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last issued its quarterly earnings results on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share (EPS) 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 firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.75 billion. The business's revenue for the quarter was up 66.7% on a year-over-year basis. Equities analysts anticipate that Barrick Mining Corporation will post 3.62 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

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

Barrick Mining Company 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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