Teacher Retirement System of Texas Makes New Investment in Barrick Mining Corporation $B

Key Points

• Teacher Retirement System of Texas established a new position in Barrick, buying 700,000 shares (~$30.5M), and several other large institutional investors also materially increased holdings, leaving about 90.82% of the stock owned by institutions.
• Barrick beat quarterly expectations with $1.04 EPS vs. $0.85 expected and revenue of $5.98B (up 44.6% year‑over‑year), delivering a strong net margin (~29.5%) and solid ROE (12.1%).
• The company raised its quarterly dividend to $0.42 (annualized $1.68, ~4.2% yield), while analysts maintain a consensus of “Moderate Buy” with an average price target of about $54.17.

Teacher Retirement System of Texas purchased a new position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 700,000 shares of the gold and copper producer's stock, valued at approximately $30,485,000.

Several other large investors have also made changes to their positions in B. Capital International Investors increased its holdings in Barrick Mining by 35.9% in the 3rd quarter. Capital International Investors now owns 101,846,588 shares of the gold and copper producer's stock valued at $3,340,709,000 after purchasing an additional 26,921,219 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Barrick Mining by 316.0% in the 3rd quarter. CIBC Asset Management Inc now owns 18,287,558 shares of the gold and copper producer's stock valued at $601,115,000 after purchasing an additional 13,891,886 shares in the last quarter. Ameriprise Financial Inc. acquired a new stake in Barrick Mining in the 2nd quarter valued at $211,263,000. Canada Pension Plan Investment Board acquired a new stake in Barrick Mining in the 2nd quarter valued at $172,230,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Barrick Mining by 664.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,013,464 shares of the gold and copper producer's stock valued at $295,977,000 after purchasing an additional 7,833,887 shares in the last quarter. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Mining Stock Performance

Shares of Barrick Mining stock opened at $40.19 on Friday. The firm has a market cap of $67.35 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 1.52 and a beta of 0.50. The firm's 50-day simple moving average is $43.67 and its 200-day simple moving average is $42.08. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.33 and a current ratio of 2.92. Barrick Mining Corporation has a 1 year low of $17.41 and a 1 year high of $54.69.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last issued its earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.19. The business had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.15 billion. Barrick Mining had a net margin of 29.45% and a return on equity of 12.10%. The business's revenue for the quarter was up 44.6% on a year-over-year basis. Equities analysts forecast that Barrick Mining Corporation will post 3.61 earnings per share for the current fiscal year.

Barrick Mining Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Friday, February 27th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.2%. This is a boost from Barrick Mining's previous quarterly dividend of $0.18. Barrick Mining's payout ratio is currently 57.34%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Canadian Imperial Bank of Commerce lowered their price target on Barrick Mining to $63.00 and set an "outperformer" rating for the company in a report on Tuesday. Weiss Ratings reiterated a "buy (b)" rating on shares of Barrick Mining in a report on Friday, March 27th. UBS Group lowered their price target on Barrick Mining from $55.00 to $50.00 and set a "buy" rating for the company in a report on Friday, March 27th. Scotiabank increased their price target on Barrick Mining from $43.00 to $63.00 and gave the company an "outperform" rating in a report on Monday, January 26th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Barrick Mining in a research report on Thursday, January 29th. They issued an "overweight" rating and a $68.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $54.17.

Barrick Mining 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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