The Manufacturers Life Insurance Company Has $612.07 Million Position in Barrick Mining Corporation $B

The Manufacturers Life Insurance Company increased its stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 1.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,992,792 shares of the gold and copper producer's stock after purchasing an additional 175,342 shares during the period. The Manufacturers Life Insurance Company owned 0.89% of Barrick Mining worth $612,067,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. CW Advisors LLC acquired a new stake in shares of Barrick Mining in the 2nd quarter valued at $283,000. EverSource Wealth Advisors LLC acquired a new position in shares of Barrick Mining during the second quarter valued at $53,000. First Trust Advisors LP acquired a new position in shares of Barrick Mining during the second quarter valued at $857,000. Baird Financial Group Inc. bought a new position in Barrick Mining in the second quarter valued at about $2,569,000. Finally, Cresset Asset Management LLC bought a new position in Barrick Mining in the second quarter valued at about $543,000. Institutional investors and hedge funds own 90.82% of the company's stock.

Wall Street Analyst Weigh In

B has been the subject of several recent research reports. Bank of America dropped their price objective on Barrick Mining from $58.00 to $56.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Citigroup reiterated a "positive" rating on shares of Barrick Mining in a research report on Wednesday, July 15th. ATB Cormark Capital Markets downgraded shares of Barrick Mining from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 7th. Royal Bank Of Canada dropped their price target on shares of Barrick Mining from $51.00 to $49.00 and set an "outperform" rating for the company in a research note on Thursday, July 9th. Finally, Wall Street Zen lowered shares of Barrick Mining from a "strong-buy" rating to a "buy" rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $52.46.

Barrick Mining Price Performance

Shares of B opened at $37.34 on Tuesday. The stock has a market cap of $62.10 billion, a P/E ratio of 10.31, a price-to-earnings-growth ratio of 0.79 and a beta of 0.48. Barrick Mining Corporation has a 1 year low of $20.94 and a 1 year high of $54.69. The stock's 50-day moving average price is $38.79 and its two-hundred day moving average price is $42.66. The company has a current ratio of 3.06, a quick ratio of 2.44 and a debt-to-equity ratio of 0.13.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last announced its quarterly earnings results on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.18. The company had revenue of $4.11 billion during the quarter, compared to analysts' expectations of $4.75 billion. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The firm's revenue for the quarter was up 66.7% on a year-over-year basis. On average, equities analysts predict that Barrick Mining Corporation will post 3.56 earnings per share for the current year.

Barrick Mining Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were paid a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Friday, May 29th. Barrick Mining's dividend payout ratio is presently 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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