621,000 Shares in Barrick Mining Corporation $B Bought by Alberta Investment Management Corp

Alberta Investment Management Corp purchased a new position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 621,000 shares of the gold and copper producer’s stock, valued at approximately $27,052,000.

Other hedge funds have also added to or reduced their stakes in the company. Financial Consulate Inc. lifted its holdings in shares of Barrick Mining by 1,042.0% during the fourth 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 in the last quarter. Westside Investment Management Inc. bought a new position in shares of Barrick Mining in the fourth quarter worth about $25,000. Intesa Sanpaolo Wealth Management bought a new position in shares of Barrick Mining in the fourth quarter worth about $26,000. JPL Wealth Management LLC bought a new position in shares of Barrick Mining in the third quarter worth about $28,000. Finally, Laurel Wealth Advisors LLC purchased a new stake in shares of Barrick Mining during the fourth quarter worth about $30,000. 90.82% of the stock is owned by institutional investors.

Barrick Mining Stock Performance

Shares of B stock opened at $41.85 on Tuesday. The stock has a market cap of $69.61 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of 1.14 and a beta of 0.43. The business has a 50-day simple moving average of $41.52 and a 200-day simple moving average of $43.90. 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 $20.35 and a 52-week high of $54.69.

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 (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.18. The business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.75 billion. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The company’s revenue for the quarter was up 66.7% on a year-over-year basis. On average, equities analysts expect that Barrick Mining Corporation will post 3.78 EPS for the current year.

Barrick Mining Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a $0.175 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.70 dividend on an annualized basis and a yield of 1.7%. Barrick Mining’s dividend payout ratio is presently 19.34%.

Analyst Upgrades and Downgrades

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