PKO Investment Management Joint Stock Co Has $13.87 Million Stake in Barrick Mining Corporation (NYSE:B)

PKO Investment Management Joint Stock Co reduced its stake in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 9.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 712,221 shares of the gold and copper producer's stock after selling 73,000 shares during the quarter. Barrick Mining accounts for approximately 1.6% of PKO Investment Management Joint Stock Co's holdings, making the stock its 15th largest holding. PKO Investment Management Joint Stock Co's holdings in Barrick Mining were worth $13,869,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of B. Allspring Global Investments Holdings LLC increased its holdings in Barrick Mining by 15.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,012,319 shares of the gold and copper producer's stock worth $16,036,000 after purchasing an additional 135,760 shares during the last quarter. Principal Securities Inc. increased its holdings in Barrick Mining by 119.4% during the 4th quarter. Principal Securities Inc. now owns 4,848 shares of the gold and copper producer's stock worth $75,000 after purchasing an additional 2,638 shares during the last quarter. Allworth Financial LP increased its holdings in Barrick Mining by 1,864.2% during the 4th quarter. Allworth Financial LP now owns 21,174 shares of the gold and copper producer's stock worth $334,000 after purchasing an additional 20,096 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC bought a new stake in shares of Barrick Mining in the 4th quarter valued at approximately $165,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Barrick Mining by 10.7% in the 4th quarter. Principal Financial Group Inc. now owns 535,461 shares of the gold and copper producer's stock valued at $8,299,000 after acquiring an additional 51,848 shares during the last quarter. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Mining Stock Down 1.1%

NYSE:B traded down $0.25 during trading hours on Wednesday, hitting $21.11. 13,602,335 shares of the company's stock traded hands, compared to its average volume of 3,203,159. The firm has a market cap of $36.18 billion, a P/E ratio of 15.87, a P/E/G ratio of 0.36 and a beta of 0.27. Barrick Mining Corporation has a twelve month low of $17.41 and a twelve month high of $47.50. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.16 and a current ratio of 2.87. The stock's fifty day moving average price is $19.44 and its two-hundred day moving average price is $18.03.

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

Barrick Mining Dividend Announcement

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 1.90%. The ex-dividend date was Friday, May 30th. Barrick Mining's payout ratio is currently 30.08%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. National Bank Financial upgraded Barrick Mining to a "hold" rating in a report on Friday, March 21st. CIBC boosted their price target on Barrick Mining from $22.00 to $24.00 and gave the company a "neutral" rating in a report on Wednesday, June 11th. Wall Street Zen downgraded Barrick Mining from a "strong-buy" rating to a "buy" rating in a report on Saturday. National Bankshares reiterated an "outperform" rating on shares of Barrick Mining in a report on Wednesday, April 2nd. Finally, UBS Group upped their price objective on Barrick Mining from $22.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Barrick Mining has an average rating of "Moderate Buy" and an average target price of $24.05.

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.