SEB Asset Management AB Takes Position in Barrick Mining Corporation $B

Key Points

• SEB Asset Management AB opened a new position in Barrick Mining in the first quarter, buying 247,913 shares worth about $10.1 million.
• Wall Street remains broadly positive on the stock, with analysts assigning a Moderate Buy rating overall and an average price target of $53.85, though several firms recently trimmed their targets.
• Barrick reported better-than-expected EPS of $0.98 in its latest quarter, but revenue came in below estimates at $4.11 billion; the company also paid a quarterly dividend of $0.175 per share.

SEB Asset Management AB purchased a new position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 247,913 shares of the gold and copper producer's stock, valued at approximately $10,099,000.

Several other hedge funds have also recently modified their holdings of B. Financial Consulate Inc. grew its position in Barrick Mining by 1,042.0% in the 4th quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer's stock valued at $25,000 after buying an additional 521 shares during the last quarter. Westside Investment Management Inc. purchased a new position in Barrick Mining during the 4th quarter worth $25,000. Intesa Sanpaolo Wealth Management purchased a new position in Barrick Mining during the 4th quarter worth $26,000. Ascentis Independent Advisors acquired a new stake in shares of Barrick Mining in the 1st quarter worth $28,000. Finally, JPL Wealth Management LLC acquired a new stake in shares of Barrick Mining in the 3rd quarter worth $28,000. 90.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Bank of America lowered their target price on shares of Barrick Mining from $58.00 to $56.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. Citigroup restated a "positive" rating on shares of Barrick Mining in a research report on Wednesday, July 15th. Canadian Imperial Bank of Commerce lowered their price objective on Barrick Mining to $63.00 and set an "outperformer" rating on the stock in a report on Tuesday, April 21st. Weiss Ratings lowered Barrick Mining from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, May 11th. Finally, Scotiabank dropped their target price on Barrick Mining from $63.00 to $57.00 and set a "sector outperform" rating on the stock in a research report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $53.85.

Barrick Mining Price Performance

Shares of NYSE B opened at $34.88 on Tuesday. The company has a current ratio of 3.06, a quick ratio of 2.44 and a debt-to-equity ratio of 0.13. The company's 50-day moving average price is $39.38 and its 200 day moving average price is $42.94. Barrick Mining Corporation has a 52 week low of $20.94 and a 52 week high of $54.69. The stock has a market cap of $58.02 billion, a price-to-earnings ratio of 9.64, a PEG ratio of 0.76 and a beta of 0.48.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last announced its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.18. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. The company had revenue of $4.11 billion during the quarter, compared to analysts' expectations of $4.75 billion. The company's revenue was up 66.7% on a year-over-year basis. As a group, research analysts forecast that Barrick Mining Corporation will post 3.61 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, May 29th. Barrick Mining's dividend payout ratio (DPR) is 19.34%.

Barrick Mining Company 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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