Auto Owners Insurance Co Boosts Position in Barrick Mining Corporation $B

Auto Owners Insurance Co lifted its stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 4,255.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 444,210 shares of the gold and copper producer’s stock after acquiring an additional 434,010 shares during the quarter. Auto Owners Insurance Co’s holdings in Barrick Mining were worth $1,934,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of B. Quadrature Capital Ltd increased its position in Barrick Mining by 113.2% during the third quarter. Quadrature Capital Ltd now owns 3,984,800 shares of the gold and copper producer’s stock worth $130,764,000 after buying an additional 2,115,800 shares during the period. BlueCrest Capital Management Ltd acquired a new stake in shares of Barrick Mining in the third quarter valued at approximately $1,889,000. WINTON GROUP Ltd purchased a new position in shares of Barrick Mining during the third quarter worth approximately $12,739,000. Picton Mahoney Asset Management grew its position in shares of Barrick Mining by 1,673.9% during the third quarter. Picton Mahoney Asset Management now owns 1,577,359 shares of the gold and copper producer’s stock worth $51,797,000 after acquiring an additional 1,488,438 shares during the last quarter. Finally, Schroder Investment Management Group purchased a new stake in shares of Barrick Mining in the third quarter valued at about $111,426,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barrick Mining Stock Performance

NYSE B opened at $40.32 on Friday. The business has a 50 day moving average price of $41.48 and a 200 day moving average price of $43.88. The company has a market capitalization of $67.07 billion, a P/E ratio of 11.14, a PEG ratio of 1.15 and a beta of 0.44. Barrick Mining Corporation has a 1-year low of $20.35 and a 1-year high of $54.69. 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 posted its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.18. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.75 billion. The firm’s revenue was up 66.7% on a year-over-year basis. Sell-side analysts expect 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 was paid on Monday, June 15th. Investors of record on Friday, May 29th were paid a dividend of $0.175 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.7%. Barrick Mining’s dividend payout ratio (DPR) is presently 19.34%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. UBS Group boosted their price target on Barrick Mining from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Canadian Imperial Bank of Commerce lowered 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. Weiss Ratings lowered Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Barclays started coverage on shares of Barrick Mining in a report on Thursday, May 21st. They set an “equal weight” rating and a $41.00 price target for the company. Finally, ATB Cormark Capital Markets downgraded shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.46.

Barrick Mining Company 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.