Nykredit A S Buys Shares of 106,574 Barrick Mining Corporation $B

Key Points

• Nykredit A/S purchased 106,574 Barrick Mining shares in the second quarter, valued at approximately $3.9 million. Institutional investors collectively own 90.82% of the company.
• Analysts maintain a generally positive outlook, with Barrick receiving a “Moderate Buy” consensus rating and an average price target of $52.36, despite several recent target reductions.
• Barrick reported quarterly EPS of $0.82, slightly exceeding estimates, while revenue rose 43.8% year over year. The company also declared a quarterly dividend of $0.175, implying an annualized yield of 1.6%.

Nykredit A S purchased a new position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 106,574 shares of the gold and copper producer's stock, valued at approximately $3,917,000.

Several other large investors also recently made changes to their positions in B. Williamson Legacy Group LLC bought a new position in shares of Barrick Mining in the fourth quarter worth about $1,315,000. Great Diamond Partners LLC bought a new stake in Barrick Mining during the 4th quarter valued at approximately $2,393,000. Erste Asset Management GmbH grew its holdings in Barrick Mining by 146.9% in the 4th quarter. Erste Asset Management GmbH now owns 43,700 shares of the gold and copper producer's stock valued at $1,911,000 after buying an additional 26,000 shares during the last quarter. GeoSphere Capital Management LLC acquired a new stake in Barrick Mining in the 4th quarter valued at approximately $1,960,000. Finally, Hillsdale Investment Management Inc. increased its position in Barrick Mining by 7.2% in the 4th quarter. Hillsdale Investment Management Inc. now owns 1,165,501 shares of the gold and copper producer's stock worth $50,861,000 after buying an additional 78,750 shares during the period. Institutional investors own 90.82% of the company's stock.

Analysts Set New Price Targets

B has been the subject of a number of research analyst reports. Scotiabank cut their price target on Barrick Mining from $57.00 to $55.00 and set an "outperform" rating for the company in a report on Wednesday, August 12th. TD lowered their price objective on shares of Barrick Mining from $61.00 to $59.00 and set a "buy" rating on the stock in a research note on Tuesday, August 11th. 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 research note on Tuesday, June 30th. Wall Street Zen downgraded shares of Barrick Mining from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Barrick Mining in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, Barrick Mining has an average rating of "Moderate Buy" and a consensus target price of $52.36.

Barrick Mining Stock Performance

B opened at $44.75 on Monday. The stock's 50 day simple moving average is $40.13 and its 200-day simple moving average is $41.49. The company has a current ratio of 3.01, a quick ratio of 2.36 and a debt-to-equity ratio of 0.13. The stock has a market cap of $73.65 billion, a PE ratio of 11.53, a P/E/G ratio of 1.28 and a beta of 0.51. Barrick Mining Corporation has a 1 year low of $27.43 and a 1 year high of $54.69.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last issued its earnings results on Monday, August 10th. The gold and copper producer reported $0.82 EPS for the quarter, topping the consensus estimate of $0.81 by $0.01. Barrick Mining had a return on equity of 16.02% and a net margin of 31.60%.The firm had revenue of $4.19 billion during the quarter, compared to analysts' expectations of $5.10 billion. During the same period last year, the business earned $0.47 earnings per share. Barrick Mining's quarterly revenue was up 43.8% compared to the same quarter last year. Sell-side analysts forecast that Barrick Mining Corporation will post 3.56 EPS for the current year.

Barrick Mining Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a $0.175 dividend. The ex-dividend date is Monday, August 31st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.6%. Barrick Mining's dividend payout ratio is currently 18.04%.

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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