Bank of New York Mellon Corp Acquires 80,084 Shares of Barrick Mining Corporation $B

Bank of New York Mellon Corp raised its holdings in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 4.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,908,023 shares of the gold and copper producer’s stock after purchasing an additional 80,084 shares during the period. Bank of New York Mellon Corp’s holdings in Barrick Mining were worth $83,094,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Westside Investment Management Inc. bought a new position in Barrick Mining in the fourth quarter valued at approximately $25,000. Financial Consulate Inc. boosted its stake in Barrick Mining by 1,042.0% in the fourth quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock valued at $25,000 after acquiring an additional 521 shares during the last quarter. Laurel Wealth Advisors LLC bought a new position in Barrick Mining in the fourth quarter valued at approximately $30,000. Lodestone Wealth Management LLC bought a new position in Barrick Mining in the fourth quarter valued at approximately $35,000. Finally, Nisa Investment Advisors LLC bought a new position in Barrick Mining in the fourth quarter valued at approximately $35,000. 90.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. ATB Cormark Capital Markets cut shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 7th. UBS Group lifted their price target on shares of Barrick Mining from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Canaccord Genuity Group reduced their price target on shares of Barrick Mining to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, February 18th. Citigroup lifted their price target on shares of Barrick Mining from $38.00 to $48.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Finally, Barclays assumed coverage on shares of Barrick Mining in a research report on Thursday, May 21st. They set an “equal weight” rating and a $41.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $53.46.

Barrick Mining Trading Up 0.1%

B opened at $39.51 on Tuesday. The stock has a market capitalization of $66.20 billion, a P/E ratio of 10.91, a P/E/G ratio of 1.12 and a beta of 0.43. Barrick Mining Corporation has a 12 month low of $19.80 and a 12 month high of $54.69. The firm’s fifty day simple moving average is $41.60 and its 200 day simple moving average is $43.84. The company has a current ratio of 3.06, a quick ratio of 2.44 and a debt-to-equity ratio of 0.13.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings data on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, beating the consensus estimate of $0.80 by $0.18. The business had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.75 billion. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. The firm’s quarterly revenue was up 66.7% compared to the same quarter last year. As a group, research analysts anticipate that Barrick Mining Corporation will post 3.78 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be given a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, May 29th. Barrick Mining’s payout ratio is currently 19.34%.

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.