Barrick Mining Corporation (NYSE:B) Shares Bought by Maryland State Retirement & Pension System

Key Points

• Maryland State Retirement & Pension System increased its stake in Barrick Mining Corporation by 15%, owning 535,002 shares worth approximately $10.4 million by the end of the first quarter.
• Several institutional investors, including Vega Investment Solutions and Nexus Investment Management, have recently acquired new stakes in Barrick, with hedge funds now owning 90.82% of the company's stock.
• Wall Street analysts have updated their ratings for Barrick Mining, with the stock receiving a consensus rating of "Moderate Buy" and a price target of $24.41.

Maryland State Retirement & Pension System grew its holdings in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 15.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 535,002 shares of the gold and copper producer's stock after buying an additional 69,876 shares during the period. Maryland State Retirement & Pension System's holdings in Barrick Mining were worth $10,385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Capital International Investors lifted its holdings in shares of Barrick Mining by 136.1% in the 4th quarter. Capital International Investors now owns 33,293,792 shares of the gold and copper producer's stock valued at $516,055,000 after purchasing an additional 19,189,830 shares during the last quarter. Causeway Capital Management LLC purchased a new stake in shares of Barrick Mining in the 4th quarter valued at about $172,225,000. FIL Ltd lifted its holdings in shares of Barrick Mining by 236.7% in the 4th quarter. FIL Ltd now owns 6,815,946 shares of the gold and copper producer's stock valued at $105,692,000 after purchasing an additional 4,791,663 shares during the last quarter. Capital International Inc. CA purchased a new stake in shares of Barrick Mining in the 4th quarter valued at about $57,991,000. Finally, Nan Shan Life Insurance Co. Ltd. lifted its holdings in shares of Barrick Mining by 9,389.9% in the 4th quarter. Nan Shan Life Insurance Co. Ltd. now owns 2,776,645 shares of the gold and copper producer's stock valued at $43,038,000 after purchasing an additional 2,747,386 shares during the last quarter. 90.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on B shares. UBS Group upped their price objective on Barrick Mining from $22.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, April 11th. CIBC upped their price objective on Barrick Mining from $24.00 to $28.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. BMO Capital Markets began coverage on Barrick Mining in a research note on Wednesday, April 16th. They set a "market perform" rating for the company. Scotiabank increased their target price on Barrick Mining from $20.00 to $22.00 and gave the stock a "sector perform" rating in a research note on Monday, April 14th. Finally, Royal Bank Of Canada set a $26.00 target price on Barrick Mining and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Barrick Mining presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.41.

Barrick Mining Stock Up 1.6%

NYSE:B traded up $0.36 during mid-day trading on Friday, hitting $23.43. The company had a trading volume of 19,359,952 shares, compared to its average volume of 11,491,187. The business has a fifty day simple moving average of $21.17 and a 200-day simple moving average of $19.39. The company has a current ratio of 2.87, a quick ratio of 2.16 and a debt-to-equity ratio of 0.14. Barrick Mining Corporation has a 1 year low of $15.11 and a 1 year high of $23.54. The firm has a market capitalization of $39.97 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 0.35 and a beta of 0.27.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released its quarterly earnings data on Wednesday, May 7th. The gold and copper producer reported $0.35 EPS for the quarter, beating the consensus estimate of $0.29 by $0.06. Barrick Mining had a return on equity of 7.51% and a net margin of 17.46%. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same period last year, the company posted $0.19 earnings per share. The firm's revenue was up 13.9% compared to the same quarter last year. Equities analysts forecast that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Profile

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.   In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.