Zurcher Kantonalbank Zurich Cantonalbank Lowers Position in Barrick Mining Corporation (NYSE:B)

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 42.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 516,842 shares of the gold and copper producer's stock after selling 388,300 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Barrick Mining were worth $10,033,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in B. TD Asset Management Inc boosted its holdings in shares of Barrick Mining by 1.6% in the 1st quarter. TD Asset Management Inc now owns 17,950,892 shares of the gold and copper producer's stock valued at $348,479,000 after purchasing an additional 275,015 shares in the last quarter. Mediolanum International Funds Ltd boosted its holdings in shares of Barrick Mining by 13.7% during the 1st quarter. Mediolanum International Funds Ltd now owns 147,410 shares of the gold and copper producer's stock valued at $2,826,000 after acquiring an additional 17,719 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Barrick Mining by 0.9% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 237,119 shares of the gold and copper producer's stock valued at $4,610,000 after acquiring an additional 2,200 shares in the last quarter. Phoenix Financial Ltd. boosted its holdings in shares of Barrick Mining by 72.6% during the 1st quarter. Phoenix Financial Ltd. now owns 41,500 shares of the gold and copper producer's stock valued at $811,000 after acquiring an additional 17,455 shares in the last quarter. Finally, Cetera Investment Advisers boosted its holdings in shares of Barrick Mining by 38.4% during the 1st quarter. Cetera Investment Advisers now owns 198,146 shares of the gold and copper producer's stock valued at $3,852,000 after acquiring an additional 54,976 shares in the last quarter. Institutional investors own 90.82% of the company's stock.

Barrick Mining Price Performance

Shares of B traded down $0.01 during midday trading on Thursday, reaching $21.10. The stock had a trading volume of 13,204,975 shares, compared to its average volume of 9,571,145. The company's 50-day moving average is $20.70 and its 200 day moving average is $19.08. Barrick Mining Corporation has a 12-month low of $15.11 and a 12-month high of $21.95. The company has a current ratio of 2.87, a quick ratio of 2.16 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $35.99 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 0.32 and a beta of 0.28.

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

Barrick Mining Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Friday, May 30th. Barrick Mining's dividend payout ratio is currently 30.08%.

Analysts Set New Price Targets

B has been the subject of several analyst reports. Wall Street Zen raised Barrick Mining from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 5th. UBS Group lifted their price objective on Barrick Mining from $22.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Scotiabank lifted their price objective on Barrick Mining from $20.00 to $22.00 and gave the stock a "sector perform" rating in a research report on Monday, April 14th. CIBC lifted their price objective on Barrick Mining from $24.00 to $28.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Finally, BMO Capital Markets began coverage on Barrick Mining in a research report on Wednesday, April 16th. They issued a "market perform" rating for the company. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Barrick Mining presently has an average rating of "Moderate Buy" and an average price target of $24.41.

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.