Employees Provident Fund Board Buys Shares of 5,081,880 Barrick Mining Corporation $B

Employees Provident Fund Board purchased a new stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,081,880 shares of the gold and copper producer’s stock, valued at approximately $221,664,000. Barrick Mining accounts for 1.6% of Employees Provident Fund Board’s holdings, making the stock its 23rd largest position. Employees Provident Fund Board owned approximately 0.30% of Barrick Mining at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Financial Consulate Inc. raised its stake in shares of 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. Westside Investment Management Inc. acquired a new position in shares of Barrick Mining during the fourth quarter worth about $25,000. Intesa Sanpaolo Wealth Management acquired a new position in shares of Barrick Mining during the fourth quarter worth about $26,000. JPL Wealth Management LLC bought a new position in shares of Barrick Mining during the third quarter worth about $28,000. Finally, Laurel Wealth Advisors LLC bought a new position in shares of Barrick Mining during the fourth quarter worth about $30,000. Institutional investors own 90.82% of the company’s stock.

Barrick Mining Price Performance

Shares of B opened at $40.32 on Friday. The firm has a market capitalization of $67.07 billion, a PE ratio of 11.14, a PEG ratio of 1.15 and a beta of 0.44. The company’s 50-day moving average is $41.48 and its 200-day moving average is $43.88. Barrick Mining Corporation has a fifty-two week low of $20.35 and a fifty-two week 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarterly revenue was up 66.7% on a year-over-year basis. Equities analysts forecast that Barrick Mining Corporation will post 3.78 EPS for the current year.

Barrick Mining Cuts Dividend

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

Wall Street Analyst Weigh In

Several research firms have commented on B. ATB Cormark Capital Markets cut Barrick Mining from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Barclays began coverage on shares of Barrick Mining in a report on Thursday, May 21st. They set an “equal weight” rating and a $41.00 target price for the company. UBS Group lifted their price target on shares of Barrick Mining from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Canadian Imperial Bank of Commerce cut their price target on shares of Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a research report on Tuesday, April 21st. Finally, Weiss Ratings cut Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.46.

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.