Mitsubishi UFJ Trust & Banking Corp Raises Stake in Barrick Mining Corporation $B

Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 579,590 shares of the gold and copper producer’s stock after purchasing an additional 19,794 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Barrick Mining were worth $24,947,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in B. Capital International Investors raised its holdings in Barrick Mining by 35.9% during the third quarter. Capital International Investors now owns 101,846,588 shares of the gold and copper producer’s stock worth $3,340,709,000 after purchasing an additional 26,921,219 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Barrick Mining by 316.0% during the third quarter. CIBC Asset Management Inc now owns 18,287,558 shares of the gold and copper producer’s stock worth $601,115,000 after purchasing an additional 13,891,886 shares in the last quarter. Ameriprise Financial Inc. acquired a new stake in Barrick Mining during the second quarter worth approximately $211,263,000. Canada Pension Plan Investment Board acquired a new stake in Barrick Mining during the second quarter worth approximately $172,230,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Barrick Mining by 664.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,013,464 shares of the gold and copper producer’s stock worth $295,977,000 after purchasing an additional 7,833,887 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barrick Mining News Roundup

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

• Positive Sentiment: Barrick said it is targeting a year?end IPO for a new North America unit that could be valued above $60 billion, with a primary New York listing and Barrick keeping a majority stake — a move that could surface value in its North American gold assets (includes Nevada Gold Mines and Fourmile). Barrick Targets Year-End IPO For North America Unit Valued Above $60 Billion
• Positive Sentiment: Market research and Wall Street commentary are increasingly favorable: Barrick is being highlighted among top precious?metal stocks, which supports interest from institutional investors and price targets from analysts. Is Barrick (B) the Best Precious Metal Stock to Buy According to Wall Street Analysts?
• Neutral Sentiment: Barrick has appointed an executive leadership team to run the North American business ahead of the IPO — a necessary step for execution but still early in the timeline. Barrick Mining Appoints Leadership Team for New North American Unit Ahead of Planned IPO
• Negative Sentiment: Despite the strategic plan, investors appear to be taking profits after a strong one?year rally and reacting to execution/timing risk (IPO targeted for year?end). Analysts and commentators flag mixed valuation signals and the potential for near?term volatility. Assessing Barrick Gold (TSX:ABX) Valuation After A Strong Year And Recent Share Price Weakness
• Negative Sentiment: Sector and regional dynamics may weigh: Barrick’s choice of a U.S. primary listing (New York) over Canada and low near?term free?float for the spun unit (Barrick keeping a majority stake) create uncertainty for Canadian investors and could limit immediate liquidity benefits. Barrick Picks New York for North American Spinoff This Year
• Negative Sentiment: Broader materials/commodity weakness and technical pressure (shares trading below recent moving averages with above?average volume) add near?term downside risk until the IPO path and timing are clearer. TSX Down 180 Points at Midday With Tech, Materials Sectors The Worst Performers

Barrick Mining Stock Performance

NYSE:B opened at $38.37 on Thursday. The firm’s fifty day moving average price is $43.04 and its 200 day moving average price is $42.32. Barrick Mining Corporation has a 1-year low of $17.41 and a 1-year high of $54.69. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 2.33. The firm has a market cap of $64.30 billion, a price-to-earnings ratio of 13.10, a price-to-earnings-growth ratio of 1.50 and a beta of 0.50.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings data on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.19. Barrick Mining had a net margin of 29.45% and a return on equity of 12.10%. The firm had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.15 billion. Barrick Mining’s revenue for the quarter was up 44.6% on a year-over-year basis. On average, sell-side analysts expect that Barrick Mining Corporation will post 3.55 EPS for the current year.

Barrick Mining Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Friday, February 27th were given a $0.42 dividend. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, February 27th. This represents a $1.68 dividend on an annualized basis and a yield of 4.4%. Barrick Mining’s payout ratio is 57.34%.

Wall Street Analyst Weigh In

B has been the topic of a number of research analyst reports. Canaccord Genuity Group cut their price objective on shares of Barrick Mining to $77.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. ATB Cormark Capital Markets cut shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. Canadian Imperial Bank of Commerce cut their price objective on shares of Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a report on Tuesday, April 21st. Wall Street Zen raised shares of Barrick Mining from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 7th. Finally, DZ Bank raised shares of Barrick Mining to a “strong-buy” rating in a report on Monday, January 19th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Barrick Mining presently has an average rating of “Moderate Buy” and a consensus target price of $54.17.

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.