Williamson Legacy Group LLC Makes New $1.32 Million Investment in Barrick Mining Corporation $B

Key Points

• Williamson Legacy Group LLC opened a new stake in Barrick Mining Corporation in the fourth quarter, buying 30,199 shares valued at about $1.32 million.
• Barrick Mining reported Q1 earnings of $0.98 per share, beating estimates, though revenue of $4.11 billion came in below expectations; revenue still rose 66.7% year over year.
• The company declared a quarterly dividend of $0.175 per share and has strong institutional ownership, with large investors continuing to add shares and institutions holding 90.82% of the stock.

Williamson Legacy Group LLC bought a new position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 30,199 shares of the gold and copper producer's stock, valued at approximately $1,315,000.

A number of other large investors have also added to or reduced their stakes in the stock. Capital International Investors grew its position in shares of Barrick Mining by 35.9% during 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 acquiring an additional 26,921,219 shares during the period. Vanguard Group Inc. grew its position in shares of Barrick Mining by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 70,878,168 shares of the gold and copper producer's stock valued at $2,327,991,000 after acquiring an additional 767,544 shares during the period. TD Asset Management Inc grew its position in shares of Barrick Mining by 3.8% during the 3rd quarter. TD Asset Management Inc now owns 19,309,335 shares of the gold and copper producer's stock valued at $634,346,000 after acquiring an additional 715,151 shares during the period. Mackenzie Financial Corp grew its position in shares of Barrick Mining by 7.6% during the 3rd quarter. Mackenzie Financial Corp now owns 12,721,334 shares of the gold and copper producer's stock valued at $417,739,000 after acquiring an additional 893,630 shares during the period. Finally, Invesco Ltd. grew its position in shares of Barrick Mining by 1.6% during the 3rd quarter. Invesco Ltd. now owns 10,479,593 shares of the gold and copper producer's stock valued at $343,416,000 after acquiring an additional 160,984 shares during the period. Institutional investors own 90.82% of the company's stock.

Barrick Mining Stock Up 3.3%

B opened at $42.03 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.44 and a current ratio of 3.06. Barrick Mining Corporation has a fifty-two week low of $18.58 and a fifty-two week high of $54.69. The firm's fifty day moving average is $41.18 and its 200 day moving average is $43.47. The stock has a market cap of $70.42 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 1.10 and a beta of 0.41.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share for the quarter, beating 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 for the quarter, compared to analysts' expectations of $4.75 billion. The company's revenue for the quarter was up 66.7% on a year-over-year basis. On average, sell-side analysts forecast that Barrick Mining Corporation will post 3.7 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be paid a dividend of $0.175 per share. The ex-dividend date is Friday, May 29th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.7%. Barrick Mining's payout ratio is 46.41%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on B. Weiss Ratings downgraded shares of Barrick Mining from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, May 11th. Canadian Imperial Bank of Commerce cut their price objective on shares of Barrick Mining to $63.00 and set an "outperformer" rating for the company in a research report on Tuesday, April 21st. Citigroup boosted their price objective on shares of Barrick Mining from $38.00 to $48.00 and gave the company a "neutral" rating in a research report on Monday, February 9th. JPMorgan Chase & Co. began coverage on shares of Barrick Mining in a research report on Thursday, January 29th. They set an "overweight" rating and a $68.00 price objective for the company. Finally, Canaccord Genuity Group cut their price objective on shares of Barrick Mining to $77.00 and set a "buy" rating for the company in a research report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $53.46.

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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