Barrick Mining Corporation $B Shares Acquired by Cidel Asset Management Inc.

Cidel Asset Management Inc. grew its position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 2,215.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 428,313 shares of the gold and copper producer’s stock after purchasing an additional 409,813 shares during the quarter. Cidel Asset Management Inc.’s holdings in Barrick Mining were worth $17,458,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in B. Ascentis Independent Advisors purchased a new position in shares of Barrick Mining during the first quarter valued at $28,000. Continuum Advisory LLC bought a new stake in shares of Barrick Mining in the second quarter valued at about $32,000. Allied Private Wealth LLC purchased a new stake in Barrick Mining in the second quarter worth about $35,000. Root Financial Partners LLC purchased a new stake in Barrick Mining in the third quarter worth about $38,000. Finally, Main Street Group LTD purchased a new stake in Barrick Mining in the first quarter worth about $46,000. Institutional investors own 90.82% of the company’s stock.

Wall Street Analysts Forecast Growth

B has been the topic of several recent research reports. Scotiabank dropped their target price on shares of Barrick Mining from $57.00 to $55.00 and set an “outperform” rating on the stock in a report on Wednesday, August 12th. Sanford C. Bernstein reduced their price target on shares of Barrick Mining from $61.00 to $56.50 and set an “outperform” rating for the company in a report on Wednesday, September 9th. Royal Bank Of Canada boosted their price target on shares of Barrick Mining from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, September 16th. Citigroup upped their price target on shares of Barrick Mining from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, September 3rd. Finally, Bank of America cut their price objective on shares of Barrick Mining from $56.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $52.59.

Barrick Mining Trading Down 4.3%

Shares of NYSE:B opened at $36.99 on Friday. The company has a market capitalization of $60.47 billion, a PE ratio of 9.53, a P/E/G ratio of 1.15 and a beta of 0.48. The company has a current ratio of 3.01, a quick ratio of 2.36 and a debt-to-equity ratio of 0.13. Barrick Mining Corporation has a 12-month low of $31.61 and a 12-month high of $54.69. The business’s fifty day simple moving average is $42.18 and its 200-day simple moving average is $42.24.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings data on Monday, August 10th. The gold and copper producer reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. The firm had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Barrick Mining had a return on equity of 16.02% and a net margin of 31.60%. The firm’s quarterly revenue was up 43.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 EPS. As a group, equities research analysts predict that Barrick Mining Corporation will post 3.49 earnings per share for the current fiscal year.

Barrick Mining Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were paid a $0.1750 dividend. This represents a $0.70 annualized dividend and a yield of 1.9%. The ex-dividend date was Monday, August 31st. Barrick Mining’s payout ratio is 18.04%.

About Barrick Mining

Barrick Mining Corporation, formerly known as Barrick Gold Corporation, is a global mining company focused primarily on the exploration, development and production of gold and copper. Its activities include operating mines, advancing development projects and managing mineral reserves across multiple jurisdictions.

The company’s gold operations include Nevada Gold Mines in the United States, a joint venture in which Barrick is the operator, as well as mines and projects in Canada, the Dominican Republic, Mali, Côte d’Ivoire, Tanzania and the Democratic Republic of the Congo.