Independent Advisor Alliance Grows Stock Position in Barrick Mining Corporation $B

Independent Advisor Alliance lifted its stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 355.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,372 shares of the gold and copper producer’s stock after buying an additional 38,523 shares during the period. Independent Advisor Alliance’s holdings in Barrick Mining were worth $2,150,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Legacy Financial Advisors Inc. increased its holdings in shares of Barrick Mining by 3.9% in the fourth quarter. Legacy Financial Advisors Inc. now owns 8,569 shares of the gold and copper producer’s stock worth $373,000 after buying an additional 319 shares during the period. World Investment Advisors increased its holdings in shares of Barrick Mining by 7.2% in the fourth quarter. World Investment Advisors now owns 11,614 shares of the gold and copper producer’s stock worth $506,000 after buying an additional 782 shares during the period. Glass Wealth Management Co LLC increased its holdings in shares of Barrick Mining by 2.7% in the fourth quarter. Glass Wealth Management Co LLC now owns 215,530 shares of the gold and copper producer’s stock worth $9,386,000 after buying an additional 5,625 shares during the period. HighPoint Advisor Group LLC increased its holdings in shares of Barrick Mining by 4.2% in the fourth quarter. HighPoint Advisor Group LLC now owns 33,986 shares of the gold and copper producer’s stock worth $1,480,000 after buying an additional 1,384 shares during the period. Finally, Asahi Life Asset Management CO. LTD. purchased a new position in shares of Barrick Mining in the fourth quarter worth about $314,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Barrick Mining Stock Down 3.8%

B stock opened at $43.15 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.33 and a current ratio of 3.06. The company has a market capitalization of $72.29 billion, a price-to-earnings ratio of 11.92, a price-to-earnings-growth ratio of 1.31 and a beta of 0.41. The business’s 50 day moving average price is $41.89 and its two-hundred day moving average price is $42.99. Barrick Mining Corporation has a fifty-two week low of $17.41 and a fifty-two week high of $54.69.

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 the consensus estimate of $0.80 by $0.18. The company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.75 billion. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The business’s revenue was up 66.7% compared to the same quarter last year. As a group, analysts forecast that Barrick Mining Corporation will post 3.62 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be paid a $0.175 dividend. The ex-dividend date is Friday, May 29th. This represents a $0.70 annualized dividend and a dividend yield of 1.6%. Barrick Mining’s dividend payout ratio is presently 46.41%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Canadian Imperial Bank of Commerce decreased their price objective on Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a report on Tuesday, April 21st. Scotiabank boosted their price target on Barrick Mining from $43.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, January 26th. JPMorgan Chase & Co. assumed coverage on Barrick Mining in a report on Thursday, January 29th. They set an “overweight” rating and a $68.00 price target on the stock. ATB Cormark Capital Markets downgraded Barrick Mining from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. Finally, Canaccord Genuity Group reduced their price target on Barrick Mining to $77.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $54.50.

Key Headlines Impacting Barrick Mining

Here are the key news stories impacting Barrick Mining this week:

• Positive Sentiment: Barrick reported a strong first quarter, with gold production and cash flow growth helping it top expectations and reinforcing confidence in operational execution.
• Positive Sentiment: The company approved a $3 billion stock buyback plan, signaling management sees value in the shares and giving investors a direct return of capital.
• Positive Sentiment: Several recent commentaries argue Barrick still looks undervalued based on its large gold reserve base and high gold prices, which could support further upside if bullion stays elevated. Article Title
• Neutral Sentiment: Barrick also announced the election of directors and related annual meeting voting results, a routine governance update that is unlikely to materially affect the stock. Article Title
• Negative Sentiment: Some analysts now say the rally may be getting more balanced after the recent run-up, with valuation looking less compelling following the strong earnings-driven move. Article Title

Barrick Mining Company 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.