Ritholtz Wealth Management Increases Stock Position in Barrick Mining Corporation $B

Ritholtz Wealth Management increased its holdings in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 62.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,092 shares of the gold and copper producer’s stock after acquiring an additional 23,394 shares during the quarter. Ritholtz Wealth Management’s holdings in Barrick Mining were worth $2,492,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Capital International Investors increased its stake in Barrick Mining by 35.9% in the third 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 purchasing an additional 26,921,219 shares during the period. Van ECK Associates Corp grew its holdings in shares of Barrick Mining by 22.8% during the fourth quarter. Van ECK Associates Corp now owns 55,423,240 shares of the gold and copper producer’s stock worth $2,413,699,000 after buying an additional 10,287,544 shares during the last quarter. FIL Ltd increased its position in Barrick Mining by 85.3% in the 4th quarter. FIL Ltd now owns 30,099,422 shares of the gold and copper producer’s stock valued at $1,311,169,000 after acquiring an additional 13,853,587 shares during the period. Mackenzie Financial Corp raised its stake in Barrick Mining by 61.9% during the 4th quarter. Mackenzie Financial Corp now owns 20,591,745 shares of the gold and copper producer’s stock valued at $909,104,000 after acquiring an additional 7,870,411 shares during the last quarter. Finally, TD Asset Management Inc raised its stake in Barrick Mining by 5.6% during 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 acquiring an additional 1,086,332 shares during the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on B. Weiss Ratings lowered Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. UBS Group boosted their price objective on shares of Barrick Mining from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Barclays started coverage on shares of Barrick Mining in a research note on Thursday, May 21st. They issued an “equal weight” rating and a $41.00 target price for the company. Canadian Imperial Bank of Commerce dropped their price target on shares of Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a research note on Tuesday, April 21st. Finally, ATB Cormark Capital Markets downgraded shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Barrick Mining currently has an average rating of “Moderate Buy” and an average price target of $53.46.

Barrick Mining Price Performance

Barrick Mining stock opened at $37.31 on Friday. The company has a market cap of $62.06 billion, a P/E ratio of 10.31, a price-to-earnings-growth ratio of 1.05 and a beta of 0.44. Barrick Mining Corporation has a one year low of $20.35 and a one year high of $54.69. The business has a fifty day moving average of $40.93 and a two-hundred day moving average of $43.76. 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 (NYSE:B) (TSE:ABX) last posted its quarterly earnings results on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share for the quarter, topping 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 business had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.75 billion. The firm’s revenue for the quarter was up 66.7% on a year-over-year basis. As a group, analysts predict that Barrick Mining Corporation will post 3.78 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were issued a $0.175 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.70 dividend on an annualized basis and a yield of 1.9%. Barrick Mining’s dividend payout ratio (DPR) is 19.34%.

Barrick Mining 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.