Nykredit A S Makes New Investment in Barrick Mining Corporation $B

Key Points

• Nykredit A/S purchased 106,574 shares of Barrick Mining in the second quarter, valued at approximately $3.9 million. Institutional investors and hedge funds collectively own 90.82% of the company.
• Barrick reported quarterly EPS of $0.82, narrowly exceeding estimates, while revenue rose 43.8% year over year to $4.19 billion. The company also pays a quarterly dividend of $0.175 per share, equivalent to a 1.6% annual yield.
• Analysts maintain a generally positive outlook, with Barrick carrying a consensus “Moderate Buy” rating and an average price target of $52.90 versus its cited share price of $43.93.

Nykredit A S purchased a new stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 106,574 shares of the gold and copper producer's stock, valued at approximately $3,917,000.

Several other institutional investors have also modified their holdings of B. Van ECK Associates Corp raised its position in Barrick Mining by 22.8% in the 4th quarter. Van ECK Associates Corp now owns 55,423,240 shares of the gold and copper producer's stock valued at $2,413,699,000 after purchasing an additional 10,287,544 shares in the last quarter. Royal Bank of Canada increased its position in shares of Barrick Mining by 10.9% in the 1st quarter. Royal Bank of Canada now owns 39,598,520 shares of the gold and copper producer's stock valued at $1,615,225,000 after purchasing an additional 3,881,841 shares during the last quarter. TD Asset Management Inc raised its holdings in shares of Barrick Mining by 5.6% in the 4th quarter. TD Asset Management Inc now owns 20,395,667 shares of the gold and copper producer's stock valued at $889,627,000 after purchasing an additional 1,086,332 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Barrick Mining by 8.8% in the 4th quarter. CIBC Asset Management Inc now owns 19,902,944 shares of the gold and copper producer's stock valued at $869,964,000 after purchasing an additional 1,615,386 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Barrick Mining by 7.0% during the 4th quarter. Geode Capital Management LLC now owns 17,733,900 shares of the gold and copper producer's stock worth $802,477,000 after purchasing an additional 1,154,790 shares during the last quarter. Institutional investors and hedge funds own 90.82% of the company's stock.

Barrick Mining Stock Performance

NYSE B opened at $43.93 on Wednesday. The company has a fifty day moving average of $41.71 and a two-hundred day moving average of $41.04. The company has a market capitalization of $72.31 billion, a PE ratio of 11.32, a P/E/G ratio of 1.25 and a beta of 0.51. Barrick Mining Corporation has a 1 year low of $30.35 and a 1 year high of $54.69. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.01 and a quick ratio of 2.36.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its earnings results on Monday, August 10th. The gold and copper producer reported $0.82 earnings per share for the quarter, beating 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 business had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same period in the previous year, the business earned $0.47 EPS. The business's quarterly revenue was up 43.8% on a year-over-year basis. As a group, analysts expect that Barrick Mining Corporation will post 3.48 earnings per share for the current year.

Barrick Mining Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were given a dividend of $0.175 per share. The ex-dividend date was 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 (DPR) is 18.04%.

Analyst Ratings Changes

B has been the subject of a number of analyst reports. UBS Group lowered 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. TD set a $59.00 price target on Barrick Mining and gave the company a "buy" rating in a research note on Wednesday, September 16th. Sanford C. Bernstein decreased their price target on Barrick Mining from $61.00 to $56.50 and set an "outperform" rating for the company in a report on Wednesday, September 9th. Barclays upped their price objective on Barrick Mining from $39.00 to $42.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 13th. Finally, Scotiabank dropped their price objective on Barrick Mining from $57.00 to $55.00 and set an "outperform" rating on the stock in a report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, Barrick Mining currently has an average rating of "Moderate Buy" and a consensus target price of $52.90.

Barrick Mining Company Profile

Barrick Mining Corporation, formerly known as Barrick Gold Corporation, is a global mining company focused primarily on the production of gold and copper. Its activities include the exploration, development, construction and operation of mines, as well as processing ore into refined metal products.

The company operates and holds interests in mining assets across several regions, including North America, South America, Africa, the Middle East and Papua New Guinea. Its portfolio includes gold operations such as Nevada Gold Mines in the United States, Pueblo Viejo in the Dominican Republic, Veladero in Argentina, Kibali in the Democratic Republic of the Congo, and North Mara and Bulyanhulu in Tanzania.

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