Sumitomo Mitsui Trust Group Inc. Increases Holdings in Barrick Mining Corporation $B

Key Points

• Sumitomo Mitsui Trust Group increased its stake in Barrick Mining by 34.5% in Q4, buying 30,018 shares to hold 117,097 shares worth about $5.1 million per its recent 13F filing.
• Barrick topped Q4 expectations with $1.04 EPS (vs. $0.85 est.) and $5.98 billion in revenue (up 44.6% YoY), and raised its quarterly dividend to $0.42 (annualized $1.68), implying a ~3.9% yield.
• Analyst sentiment is broadly positive—a consensus Moderate Buy with an average target of $54.83—while the stock trades around $43.29 with a market cap near $72.5 billion and a PE of 14.77.

Sumitomo Mitsui Trust Group Inc. grew its position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 34.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,097 shares of the gold and copper producer's stock after buying an additional 30,018 shares during the quarter. Sumitomo Mitsui Trust Group Inc.'s holdings in Barrick Mining were worth $5,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of B. Financial Consulate Inc. lifted its holdings in Barrick Mining by 1,042.0% in the fourth quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer's stock valued at $25,000 after acquiring an additional 521 shares during the period. Arlington Trust Co LLC bought a new stake in shares of Barrick Mining during the 3rd quarter valued at about $26,000. JPL Wealth Management LLC bought a new stake in shares of Barrick Mining during the 3rd quarter valued at about $28,000. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Barrick Mining during the 3rd quarter valued at about $31,000. Finally, Provenance Wealth Advisors LLC purchased a new stake in shares of Barrick Mining during the 3rd quarter valued at about $32,000. Institutional investors own 90.82% of the company's stock.

Barrick Mining Trading Up 2.1%

Shares of NYSE:B opened at $43.29 on Friday. The stock has a 50 day moving average of $44.12 and a 200 day moving average of $41.87. The company has a market cap of $72.53 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 1.58 and a beta of 0.50. Barrick Mining Corporation has a 12-month low of $17.41 and a 12-month high of $54.69. The company has a current ratio of 2.92, a quick ratio of 2.33 and a debt-to-equity ratio of 0.13.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released its earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.19. Barrick Mining had a net margin of 29.45% and a return on equity of 12.10%. The company had revenue of $5.98 billion for the quarter, compared to analysts' expectations of $5.15 billion. The business's revenue was up 44.6% on a year-over-year basis. As a group, equities research analysts expect that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 27th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Friday, February 27th. This is a positive change from Barrick Mining's previous quarterly dividend of $0.18. Barrick Mining's payout ratio is 57.34%.

Analyst Ratings Changes

B has been the topic of a number of research reports. Scotiabank raised their price objective on shares of Barrick Mining from $43.00 to $63.00 and gave the stock an "outperform" rating in a report on Monday, January 26th. JPMorgan Chase & Co. initiated coverage on shares of Barrick Mining in a report on Thursday, January 29th. They set an "overweight" rating and a $68.00 target price for the company. Citigroup increased their price target on shares of Barrick Mining from $38.00 to $48.00 and gave the stock a "neutral" rating in a research report on Monday, February 9th. Zacks Research cut shares of Barrick Mining from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 13th. Finally, ATB Cormark Capital Markets downgraded shares of Barrick Mining from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $54.83.

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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