Allianz Asset Management GmbH Increases Stake in Barrick Mining Corporation $B

Allianz Asset Management GmbH increased its holdings in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 101.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,835,781 shares of the gold and copper producer’s stock after buying an additional 923,857 shares during the period. Allianz Asset Management GmbH’s holdings in Barrick Mining were worth $80,073,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Westside Investment Management Inc. purchased a new stake in Barrick Mining during the 4th quarter worth approximately $25,000. Financial Consulate Inc. increased its stake in Barrick Mining by 1,042.0% during the 4th quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock worth $25,000 after buying an additional 521 shares during the period. Laurel Wealth Advisors LLC purchased a new stake in Barrick Mining during the 4th quarter worth approximately $30,000. Lodestone Wealth Management LLC purchased a new stake in Barrick Mining during the 4th quarter worth approximately $35,000. Finally, Nisa Investment Advisors LLC purchased a new stake in Barrick Mining during the 4th quarter worth approximately $35,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Mining Trading Down 5.1%

NYSE B opened at $37.15 on Thursday. 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 Corporation has a 52 week low of $20.01 and a 52 week high of $54.69. The stock has a market capitalization of $61.79 billion, a PE ratio of 10.26, a price-to-earnings-growth ratio of 1.11 and a beta of 0.44. The firm has a 50 day moving average of $41.59 and a two-hundred day moving average of $43.86.

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

Barrick Mining Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be issued a $0.175 dividend. The ex-dividend date is Friday, May 29th. This represents a $0.70 annualized dividend and a dividend yield of 1.9%. Barrick Mining’s dividend payout ratio is presently 19.34%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Canadian Imperial Bank of Commerce cut their target price on shares of Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a research note on Tuesday, April 21st. ATB Cormark Capital Markets downgraded shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Weiss Ratings downgraded shares of Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Barclays assumed coverage on shares of Barrick Mining in a research note on Thursday, May 21st. They set an “equal weight” rating and a $41.00 target price on the stock. Finally, Canaccord Genuity Group cut their target price on shares of Barrick Mining to $77.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. 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, the stock currently has an average rating of “Moderate Buy” and an average price target 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.