Barrick Mining Corporation (NYSE:B) Shares Acquired by Phoenix Financial Ltd.

Key Points

• Phoenix Financial Ltd. increased its holdings in Barrick Mining Corporation by 72.6%, now owning 41,500 shares valued at approximately $811,000.
• Barrick Mining has received a consensus rating of "Moderate Buy" from analysts, with an average price target of $24.41 for the stock.
• The company recently reported a quarterly earnings per share (EPS) of $0.35, exceeding analysts' expectations and showing a year-over-year revenue increase of 13.9%.

Phoenix Financial Ltd. boosted its position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 72.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 41,500 shares of the gold and copper producer's stock after purchasing an additional 17,455 shares during the period. Phoenix Financial Ltd.'s holdings in Barrick Mining were worth $811,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Barrick Mining by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 68,358,533 shares of the gold and copper producer's stock valued at $1,060,036,000 after purchasing an additional 1,195,585 shares during the last quarter. Wellington Management Group LLP grew its stake in Barrick Mining by 17.5% during the fourth quarter. Wellington Management Group LLP now owns 64,310,800 shares of the gold and copper producer's stock worth $996,802,000 after buying an additional 9,598,292 shares during the last quarter. Capital International Investors lifted its position in shares of Barrick Mining by 136.1% during the fourth quarter. Capital International Investors now owns 33,293,792 shares of the gold and copper producer's stock worth $516,055,000 after purchasing an additional 19,189,830 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in Barrick Mining by 1.9% in the fourth quarter. Mackenzie Financial Corp now owns 15,318,376 shares of the gold and copper producer's stock valued at $237,280,000 after buying an additional 278,292 shares during the period. Finally, Causeway Capital Management LLC acquired a new position in Barrick Mining in the fourth quarter valued at approximately $172,225,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

B has been the subject of a number of analyst reports. Scotiabank lifted their price objective on shares of Barrick Mining from $20.00 to $22.00 and gave the company a "sector perform" rating in a research report on Monday, April 14th. National Bankshares reiterated an "outperform" rating on shares of Barrick Mining in a research note on Wednesday, April 2nd. CIBC lifted their price objective on shares of Barrick Mining from $24.00 to $28.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Wall Street Zen upgraded shares of Barrick Mining from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 5th. Finally, Royal Bank Of Canada set a $26.00 price target on shares of Barrick Mining and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $24.41.

Barrick Mining Stock Performance

NYSE B traded down $0.15 during trading hours on Wednesday, reaching $21.35. The stock had a trading volume of 3,587,872 shares, compared to its average volume of 19,946,867. The stock has a fifty day moving average of $20.66 and a 200 day moving average of $19.06. The stock has a market cap of $36.42 billion, a P/E ratio of 16.04, a price-to-earnings-growth ratio of 0.33 and a beta of 0.28. Barrick Mining Corporation has a 52-week low of $15.11 and a 52-week high of $21.95. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.16 and a current ratio of 2.87.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $3.15 billion. During the same period in the previous year, the business posted $0.19 EPS. The business's revenue was up 13.9% compared to the same quarter last year. Sell-side analysts predict that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Announces Dividend

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

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.