Acasta Partners UK LLP Buys New Shares in Barrick Mining Corporation $B

Acasta Partners UK LLP bought a new stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the fourth quarter, HoldingsChannel reports. The fund bought 81,076 shares of the gold and copper producer’s stock, valued at approximately $3,531,000. Barrick Mining comprises about 1.3% of Acasta Partners UK LLP’s portfolio, making the stock its 10th largest position.

A number of other institutional investors have also added to or reduced their stakes in B. Bogart Wealth LLC grew its stake in shares of Barrick Mining by 3.5% during the fourth quarter. Bogart Wealth LLC now owns 6,442 shares of the gold and copper producer’s stock valued at $281,000 after buying an additional 218 shares during the last quarter. Mmbg Investment Advisors CO. grew its stake in shares of Barrick Mining by 0.6% during the fourth quarter. Mmbg Investment Advisors CO. now owns 43,454 shares of the gold and copper producer’s stock valued at $1,892,000 after buying an additional 254 shares during the last quarter. S.A. Mason LLC grew its stake in shares of Barrick Mining by 1.3% during the fourth quarter. S.A. Mason LLC now owns 23,114 shares of the gold and copper producer’s stock valued at $1,007,000 after buying an additional 300 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Barrick Mining by 1.0% during the fourth quarter. Sequoia Financial Advisors LLC now owns 31,212 shares of the gold and copper producer’s stock valued at $1,359,000 after buying an additional 302 shares during the last quarter. Finally, Legacy Financial Advisors Inc. grew its stake in shares of Barrick Mining by 3.9% during the fourth quarter. Legacy Financial Advisors Inc. now owns 8,569 shares of the gold and copper producer’s stock valued at $373,000 after buying an additional 319 shares during the last quarter. Institutional investors own 90.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on B shares. ATB Cormark Capital Markets cut Barrick Mining from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. UBS Group raised their target price on Barrick Mining from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Canadian Imperial Bank of Commerce cut their target price on Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a research note on Tuesday, April 21st. Barclays started coverage on Barrick Mining in a research note on Thursday, May 21st. They issued an “equal weight” rating and a $41.00 target price on the stock. Finally, Canaccord Genuity Group cut their target price on Barrick Mining to $77.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Barrick Mining currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.46.

Barrick Mining Stock Performance

Shares of B opened at $40.22 on Friday. The company has a 50-day simple moving average of $41.51 and a two-hundred day simple moving average of $43.85. Barrick Mining Corporation has a one year low of $20.35 and a one year high of $54.69. The firm has a market capitalization of $66.89 billion, a PE ratio of 11.11, a price-to-earnings-growth ratio of 1.14 and a beta of 0.44. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.06 and a quick ratio of 2.44.

Barrick Mining (NYSE:B) (TSE:ABX) last released its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.75 billion. The firm’s revenue was up 66.7% compared to the same quarter last year. On average, analysts anticipate that Barrick Mining Corporation will post 3.78 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The firm 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 dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, May 29th. Barrick Mining’s dividend payout ratio (DPR) is presently 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.