SEB Asset Management AB Takes Position in Barrick Mining Corporation $B

SEB Asset Management AB acquired a new stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the first quarter, HoldingsChannel reports. The institutional investor acquired 247,913 shares of the gold and copper producer’s stock, valued at approximately $10,099,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in B. Enclave Advisors LLC acquired a new stake in shares of Barrick Mining during the 4th quarter worth $2,395,000. Caldwell Trust Co raised its position in shares of Barrick Mining by 6,688.3% in the 4th quarter. Caldwell Trust Co now owns 20,365 shares of the gold and copper producer’s stock worth $887,000 after buying an additional 20,065 shares during the period. Gunderson Capital Management Inc. purchased a new position in shares of Barrick Mining in the 4th quarter worth $8,987,000. Swiss Life Asset Management Ltd boosted its holdings in Barrick Mining by 14.2% in the third quarter. Swiss Life Asset Management Ltd now owns 117,682 shares of the gold and copper producer’s stock valued at $3,871,000 after acquiring an additional 14,639 shares during the last quarter. Finally, Williamson Legacy Group LLC acquired a new position in Barrick Mining in the fourth quarter valued at $1,315,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on B shares. Scotiabank dropped their price target on Barrick Mining from $63.00 to $57.00 and set a “sector outperform” rating for the company in a research note on Tuesday, July 14th. Royal Bank Of Canada reduced their price objective on Barrick Mining from $51.00 to $49.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. ATB Cormark Capital Markets cut Barrick Mining from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. Citigroup reiterated a “positive” rating on shares of Barrick Mining in a report on Wednesday, July 15th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $53.85.

Barrick Mining Stock Performance

Barrick Mining stock opened at $34.88 on Tuesday. The stock has a market cap of $58.02 billion, a P/E ratio of 9.64, a price-to-earnings-growth ratio of 0.76 and a beta of 0.48. The company has a current ratio of 3.06, a quick ratio of 2.44 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average of $39.38 and a 200-day moving average of $42.94. Barrick Mining Corporation has a 52 week low of $20.94 and a 52 week high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings results on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.18. The business had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.75 billion. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. The company’s revenue for the quarter was up 66.7% on a year-over-year basis. On average, analysts expect that Barrick Mining Corporation will post 3.61 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were given a $0.175 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.70 annualized dividend and a dividend yield of 2.0%. Barrick Mining’s payout ratio is presently 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.