Natixis Advisors LLC Acquires 108,455 Shares of Barrick Mining Corporation (NYSE:B)

Key Points

• Natixis Advisors LLC increased its stake in Barrick Mining Corporation by 75% during Q1, now holding 253,149 shares valued at approximately $4.92 million.
• Several institutional investors have also boosted their positions, with Prudential PLC's stake rising by 87.2% in Q4, showing strong interest from the investment community.
• Analysts have set a price target of $26.00 for Barrick Mining, with an average rating of "Moderate Buy" across numerous analysts evaluating the stock positively.

Natixis Advisors LLC lifted its position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 75.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 253,149 shares of the gold and copper producer's stock after buying an additional 108,455 shares during the period. Natixis Advisors LLC's holdings in Barrick Mining were worth $4,921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Letko Brosseau & Associates Inc. raised its holdings in Barrick Mining by 4.0% in the 1st quarter. Letko Brosseau & Associates Inc. now owns 4,997,850 shares of the gold and copper producer's stock worth $97,023,000 after purchasing an additional 191,350 shares during the period. Baader Bank Aktiengesellschaft raised its holdings in Barrick Mining by 93.0% in the 1st quarter. Baader Bank Aktiengesellschaft now owns 43,704 shares of the gold and copper producer's stock worth $850,000 after purchasing an additional 21,061 shares during the period. Mesirow Financial Investment Management Inc. raised its holdings in Barrick Mining by 15.6% in the 1st quarter. Mesirow Financial Investment Management Inc. now owns 35,282 shares of the gold and copper producer's stock worth $686,000 after purchasing an additional 4,772 shares during the period. Monaco Asset Management SAM raised its holdings in Barrick Mining by 27.1% in the 1st quarter. Monaco Asset Management SAM now owns 1,435,976 shares of the gold and copper producer's stock worth $27,915,000 after purchasing an additional 305,976 shares during the period. Finally, Arkadios Wealth Advisors raised its holdings in Barrick Mining by 21.2% in the 1st quarter. Arkadios Wealth Advisors now owns 17,594 shares of the gold and copper producer's stock worth $342,000 after purchasing an additional 3,081 shares during the period. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Mining Price Performance

Shares of Barrick Mining stock traded up $0.36 during trading on Friday, reaching $23.43. 19,359,952 shares of the stock traded hands, compared to its average volume of 11,491,187. The company has a market capitalization of $39.97 billion, a price-to-earnings ratio of 17.62, a P/E/G ratio of 0.35 and a beta of 0.27. Barrick Mining Corporation has a 52-week low of $15.11 and a 52-week high of $23.54. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.87 and a quick ratio of 2.16. The business has a fifty day simple moving average of $21.17 and a two-hundred day simple moving average of $19.39.

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on B shares. CIBC raised their price target on Barrick Mining from $24.00 to $28.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. Scotiabank raised their price target on Barrick Mining from $20.00 to $22.00 and gave the company a "sector perform" rating in a report on Monday, April 14th. Royal Bank Of Canada set a $26.00 price target on Barrick Mining and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Wall Street Zen cut Barrick Mining from a "strong-buy" rating to a "buy" rating in a report on Saturday. Finally, UBS Group raised their price target on Barrick Mining from $22.00 to $25.00 and gave the company a "buy" rating in a report on Friday, April 11th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $24.41.

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.