Scotia Capital Inc. Sells 38,926 Shares of Barrick Mining Corporation (NYSE:B)

Key Points

• Scotia Capital Inc. reduced its stake in Barrick Mining Corporation by 7.4%, holding 489,373 shares valued at approximately $9.49 million as of the end of the first quarter.
• Several institutional investors have significantly increased their positions in Barrick Mining, with Capital International Investors boosting its holdings by 136.1% during the fourth quarter.
• Barrick Mining reported $0.35 earnings per share for the last quarter, surpassing the consensus estimate of $0.29, while its annual dividend yield stands at 1.9% with a payout ratio of 30.08%.

Scotia Capital Inc. decreased its position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 7.4% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 489,373 shares of the gold and copper producer's stock after selling 38,926 shares during the period. Scotia Capital Inc.'s holdings in Barrick Mining were worth $9,494,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Farther Finance Advisors LLC boosted its stake in Barrick Mining by 21.8% in the 1st quarter. Farther Finance Advisors LLC now owns 3,146 shares of the gold and copper producer's stock valued at $62,000 after purchasing an additional 563 shares during the period. Sapient Capital LLC increased its stake in shares of Barrick Mining by 0.5% in the first quarter. Sapient Capital LLC now owns 114,572 shares of the gold and copper producer's stock valued at $2,227,000 after buying an additional 624 shares during the period. Kestra Private Wealth Services LLC grew its stake in Barrick Mining by 2.5% during the first quarter. Kestra Private Wealth Services LLC now owns 28,724 shares of the gold and copper producer's stock worth $558,000 after purchasing an additional 710 shares during the period. Keystone Financial Group boosted its holdings in Barrick Mining by 1.4% in the fourth quarter. Keystone Financial Group now owns 56,394 shares of the gold and copper producer's stock worth $874,000 after acquiring an additional 753 shares in the last quarter. Finally, Edge Wealth Management LLC lifted its holdings in shares of Barrick Mining by 6.1% in the first quarter. Edge Wealth Management LLC now owns 13,110 shares of the gold and copper producer's stock valued at $255,000 after purchasing an additional 755 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company's stock.

Barrick Mining Price Performance

NYSE:B traded up $0.85 on Monday, reaching $22.22. 16,789,590 shares of the company's stock traded hands, compared to its average volume of 10,406,852. 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 stock has a 50-day simple moving average of $20.86 and a 200-day simple moving average of $19.25. The firm has a market cap of $37.91 billion, a PE ratio of 16.71, a P/E/G ratio of 0.32 and a beta of 0.27. Barrick Mining Corporation has a 12 month low of $15.11 and a 12 month high of $22.27.

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

Barrick Mining Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, May 30th. Barrick Mining's payout ratio is currently 30.08%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on B. CIBC raised 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. UBS Group boosted their target price on Barrick Mining from $22.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, April 11th. BMO Capital Markets began coverage on Barrick Mining in a research report on Wednesday, April 16th. They issued a "market perform" rating for the company. Royal Bank Of Canada set a $26.00 price target on Barrick Mining and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Finally, Scotiabank increased their target price on Barrick Mining from $20.00 to $22.00 and gave the company a "sector perform" rating in a research note on Monday, April 14th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $24.41.

Barrick Mining Company Profile

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.