Daiwa Securities Group Inc. Buys New Stake in Barrick Mining Corporation $B

Daiwa Securities Group Inc. bought a new stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 70,500 shares of the gold and copper producer’s stock, valued at approximately $3,070,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Westside Investment Management Inc. acquired a new position in Barrick Mining in the 4th quarter valued at $25,000. Financial Consulate Inc. boosted its holdings in Barrick Mining by 1,042.0% in the 4th quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock valued at $25,000 after purchasing an additional 521 shares during the period. Laurel Wealth Advisors LLC bought a new stake in Barrick Mining in the 4th quarter valued at $30,000. Lodestone Wealth Management LLC bought a new stake in Barrick Mining in the 4th quarter valued at $35,000. Finally, Nisa Investment Advisors LLC bought a new stake in Barrick Mining in the 4th quarter valued at $35,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Barrick Mining Trading Down 0.9%

Shares of B stock opened at $39.09 on Wednesday. Barrick Mining Corporation has a 12-month low of $19.94 and a 12-month high of $54.69. The company has a market capitalization of $65.03 billion, a P/E ratio of 10.80, a P/E/G ratio of 1.12 and a beta of 0.44. The firm has a 50-day moving average price of $41.61 and a 200 day moving average price of $43.85. The company has a quick ratio of 2.44, a current ratio of 3.06 and a debt-to-equity ratio of 0.13.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings data 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 firm 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. Research analysts forecast that Barrick Mining Corporation will post 3.78 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.175 per share. 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 dividend payout ratio is currently 19.34%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on B. Canadian Imperial Bank of Commerce reduced their price target on shares of Barrick Mining to $63.00 and set an “outperformer” rating for the company in a report on Tuesday, April 21st. ATB Cormark Capital Markets downgraded shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. Canaccord Genuity Group reduced their price target on shares of Barrick Mining to $77.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. Barclays began coverage on shares of Barrick Mining in a report on Thursday, May 21st. They issued an “equal weight” rating and a $41.00 price target for the company. Finally, Weiss Ratings downgraded shares of Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $53.46.

Barrick Mining 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.