Nikko Asset Management Americas Inc. Has $1.59 Million Stake in Barrick Mining Corporation (NYSE:B)

Key Points

• Nikko Asset Management Americas Inc. reduced its holdings in Barrick Mining Corporation by 18.4% in Q1, owning 81,990 shares valued at approximately $1.59 million after selling 18,454 shares.
• Barrick Mining recorded a quarterly EPS of $0.35, exceeding analyst estimates of $0.29, and reported a year-over-year revenue increase of 13.9%, totaling $3 billion.
• The company recently declared a quarterly dividend of $0.10 per share, representing a 1.84% yield and a payout ratio of approximately 30.08%.

Nikko Asset Management Americas Inc. trimmed its holdings in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 18.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,990 shares of the gold and copper producer's stock after selling 18,454 shares during the quarter. Nikko Asset Management Americas Inc.'s holdings in Barrick Mining were worth $1,594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in B. Vega Investment Solutions acquired a new position in Barrick Mining in the 4th quarter worth about $31,000. Nexus Investment Management ULC acquired a new position in shares of Barrick Mining during the first quarter valued at approximately $32,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Barrick Mining during the fourth quarter valued at approximately $37,000. Ameriflex Group Inc. acquired a new position in shares of Barrick Mining during the fourth quarter valued at approximately $39,000. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of Barrick Mining by 55.8% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 2,193 shares of the gold and copper producer's stock valued at $43,000 after purchasing an additional 785 shares during the last quarter. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Mining Price Performance

NYSE:B traded down $0.14 during trading hours on Wednesday, reaching $21.37. 3,392,127 shares of the company's stock were exchanged, compared to its average volume of 19,946,102. The company has a market capitalization of $36.45 billion, a P/E ratio of 16.06, a price-to-earnings-growth ratio of 0.33 and a beta of 0.28. Barrick Mining Corporation has a 12 month low of $15.11 and a 12 month high of $21.95. The company has a quick ratio of 2.16, a current ratio of 2.87 and a debt-to-equity ratio of 0.14. The business's 50-day simple moving average is $20.66 and its two-hundred day simple moving average is $19.06.

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

Barrick Mining Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.87%. The ex-dividend date was Friday, May 30th. Barrick Mining's dividend payout ratio is currently 30.08%.

Analysts Set New Price Targets

Several research analysts have recently commented on B shares. Royal Bank Of Canada set a $26.00 price target on Barrick Mining and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Wall Street Zen upgraded Barrick Mining from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 5th. UBS Group raised their price target on Barrick Mining from $22.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, April 11th. National Bankshares reiterated an "outperform" rating on shares of Barrick Mining in a research report on Wednesday, April 2nd. Finally, CIBC lifted their target price on Barrick Mining from $24.00 to $28.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.41.

About Barrick Mining

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.