CIBC Asset Management Inc Purchases 13,891,886 Shares of Barrick Mining Corporation $B

CIBC Asset Management Inc grew its position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 316.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,287,558 shares of the gold and copper producer’s stock after buying an additional 13,891,886 shares during the quarter. Barrick Mining accounts for 1.7% of CIBC Asset Management Inc’s holdings, making the stock its 16th largest holding. CIBC Asset Management Inc’s holdings in Barrick Mining were worth $601,115,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in B. Arlington Trust Co LLC purchased a new stake in Barrick Mining in the third quarter worth about $26,000. Investors Research Corp purchased a new position in Barrick Mining during the 3rd quarter valued at about $36,000. Vermillion Wealth Management Inc. bought a new stake in shares of Barrick Mining in the 2nd quarter valued at about $25,000. Concord Wealth Partners purchased a new stake in shares of Barrick Mining in the 2nd quarter worth approximately $26,000. Finally, Grove Bank & Trust bought a new stake in Barrick Mining during the 3rd quarter valued at $41,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Barrick Mining Trading Up 3.6%

Shares of NYSE:B opened at $51.04 on Friday. The company has a quick ratio of 2.33, a current ratio of 2.94 and a debt-to-equity ratio of 0.14. Barrick Mining Corporation has a 52-week low of $15.70 and a 52-week high of $51.09. The stock has a market cap of $85.50 billion, a price-to-earnings ratio of 24.65, a PEG ratio of 0.43 and a beta of 0.41. The business has a 50-day moving average price of $43.98 and a 200-day moving average price of $33.91.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its earnings results on Monday, November 10th. The gold and copper producer reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Barrick Mining had a return on equity of 9.48% and a net margin of 24.53%.The firm had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.20 billion. During the same quarter in the prior year, the firm earned $0.09 earnings per share. Barrick Mining’s revenue for the quarter was up 23.2% on a year-over-year basis. Equities analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were paid a $0.175 dividend. The ex-dividend date was Friday, November 28th. This is an increase from Barrick Mining’s previous quarterly dividend of $0.15. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.4%. Barrick Mining’s dividend payout ratio (DPR) is currently 33.82%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on B. Zacks Research downgraded shares of Barrick Mining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 13th. Cormark upgraded Barrick Mining from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 11th. TD Cowen restated a “buy” rating on shares of Barrick Mining in a research note on Wednesday, November 26th. TD Securities upped their price objective on shares of Barrick Mining from $38.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Finally, Bank of America upgraded shares of Barrick Mining from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $38.00 to $48.00 in a research note on Monday, November 24th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $46.91.

About Barrick Mining

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.