Van ECK Associates Corp Has $2.41 Billion Stock Position in Barrick Mining Corporation $B

Van ECK Associates Corp boosted its holdings in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 22.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,423,240 shares of the gold and copper producer’s stock after purchasing an additional 10,287,544 shares during the quarter. Barrick Mining comprises approximately 2.0% of Van ECK Associates Corp’s holdings, making the stock its 7th largest position. Van ECK Associates Corp owned about 3.31% of Barrick Mining worth $2,413,699,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital International Investors raised 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 acquiring an additional 26,921,219 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Barrick Mining by 1.1% in 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 purchasing an additional 767,544 shares during the period. TD Asset Management Inc grew its stake in shares of Barrick Mining by 5.6% in the 4th quarter. TD Asset Management Inc now owns 20,395,667 shares of the gold and copper producer’s stock valued at $889,627,000 after purchasing an additional 1,086,332 shares during the period. CIBC Asset Management Inc increased its holdings in Barrick Mining by 8.8% during the 4th quarter. CIBC Asset Management Inc now owns 19,902,944 shares of the gold and copper producer’s stock valued at $869,964,000 after purchasing an additional 1,615,386 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Barrick Mining by 7.0% in the 4th quarter. Geode Capital Management LLC now owns 17,733,900 shares of the gold and copper producer’s stock valued at $802,477,000 after buying an additional 1,154,790 shares during the period. Institutional investors own 90.82% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on B shares. ATB Cormark Capital Markets lowered Barrick Mining from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Barclays began coverage on Barrick Mining in a research report on Thursday, May 21st. They issued an “equal weight” rating and a $41.00 price target on the stock. Canadian Imperial Bank of Commerce dropped their price objective on Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a research note on Tuesday, April 21st. Canaccord Genuity Group dropped their price objective on Barrick Mining to $77.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. Finally, Weiss Ratings downgraded Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Barrick Mining has an average rating of “Moderate Buy” and an average target price of $53.46.

Barrick Mining Stock Up 2.9%

NYSE B opened at $40.22 on Friday. 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 Corporation has a 1-year low of $20.35 and a 1-year high of $54.69. The company has a 50 day moving average of $41.51 and a 200-day moving average of $43.85. The company has a market cap of $66.89 billion, a price-to-earnings ratio of 11.11, a PEG ratio of 1.11 and a beta of 0.44.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly 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. The company had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.75 billion. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. The firm’s revenue was up 66.7% on a year-over-year basis. On average, equities research analysts expect that Barrick Mining Corporation will post 3.78 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be given a $0.175 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.70 annualized dividend and a yield of 1.7%. Barrick Mining’s dividend payout ratio (DPR) is presently 19.34%.

About Barrick Mining

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.