Barrick Mining Corporation (NYSE:B) Shares Bought by Westwood Holdings Group Inc.

Key Points

• Westwood Holdings Group Inc. increased its stake in Barrick Mining Corporation by 76.0%, now owning 551,144 shares valued at approximately $10.71 million.
• Several hedge funds have also recently acquired new stakes in Barrick Mining, indicating a strong institutional interest with 90.82% of the stock owned by institutional investors.
• Equities analysts have varied ratings for Barrick Mining, with an average target price of $24.41 and a consensus rating of "Moderate Buy."

Westwood Holdings Group Inc. lifted its holdings in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 76.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 551,144 shares of the gold and copper producer's stock after acquiring an additional 237,981 shares during the quarter. Westwood Holdings Group Inc.'s holdings in Barrick Mining were worth $10,714,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of B. Grantham Mayo Van Otterloo & Co. LLC purchased a new stake in shares of Barrick Mining during the fourth quarter worth about $259,000. Wedbush Securities Inc. increased its holdings in Barrick Mining by 34.7% in the fourth quarter. Wedbush Securities Inc. now owns 17,598 shares of the gold and copper producer's stock valued at $273,000 after buying an additional 4,535 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Barrick Mining by 1.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 702,023 shares of the gold and copper producer's stock valued at $10,881,000 after buying an additional 11,662 shares during the last quarter. Rathbones Group PLC increased its holdings in Barrick Mining by 2.2% in the fourth quarter. Rathbones Group PLC now owns 152,401 shares of the gold and copper producer's stock valued at $2,362,000 after buying an additional 3,274 shares during the last quarter. Finally, FIL Ltd increased its holdings in Barrick Mining by 236.7% in the fourth quarter. FIL Ltd now owns 6,815,946 shares of the gold and copper producer's stock valued at $105,692,000 after buying an additional 4,791,663 shares during the last quarter. 90.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. CIBC boosted their price objective on Barrick Mining from $24.00 to $28.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. UBS Group boosted their price objective on Barrick Mining from $22.00 to $25.00 and gave the company a "buy" rating in a report on Friday, April 11th. Scotiabank boosted their price objective on Barrick Mining from $20.00 to $22.00 and gave the company a "sector perform" rating in a report on Monday, April 14th. Royal Bank Of Canada set a $26.00 price objective on Barrick Mining and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Finally, Wall Street Zen lowered Barrick Mining from a "strong-buy" rating to a "buy" rating in a report on Saturday. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $24.41.

Barrick Mining Price Performance

B traded up $0.36 during trading on Friday, reaching $23.43. The stock had a trading volume of 19,359,952 shares, compared to its average volume of 11,491,187. The firm has a market capitalization of $39.97 billion, a price-to-earnings ratio of 17.62, a price-to-earnings-growth ratio of 0.35 and a beta of 0.27. The company has a quick ratio of 2.16, a current ratio of 2.87 and a debt-to-equity ratio of 0.14. Barrick Mining Corporation has a 1-year low of $15.11 and a 1-year high of $23.54. The stock has a 50 day moving average of $21.17 and a two-hundred day moving average of $19.39.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released its earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.06. The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.15 billion. Barrick Mining had a return on equity of 7.51% and a net margin of 17.46%. The firm's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.19 earnings per share. As a group, equities analysts anticipate that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

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.