Bank of Nova Scotia Sells 480,790 Shares of Barrick Mining Corporation $B

Bank of Nova Scotia decreased its stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 10.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,145,547 shares of the gold and copper producer’s stock after selling 480,790 shares during the period. Bank of Nova Scotia’s holdings in Barrick Mining were worth $169,360,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of B. Financial Consulate Inc. raised 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 valued at $25,000 after purchasing an additional 521 shares during the last quarter. Westside Investment Management Inc. bought a new stake in Barrick Mining in the 4th quarter valued at $25,000. Intesa Sanpaolo Wealth Management acquired a new stake in Barrick Mining in the 4th quarter worth $26,000. Ascentis Independent Advisors acquired a new stake in Barrick Mining in the 1st quarter worth $28,000. Finally, JPL Wealth Management LLC bought a new position in shares of Barrick Mining during the 3rd quarter worth about $28,000. Institutional investors own 90.82% of the company’s stock.

Key Headlines Impacting Barrick Mining

Here are the key news stories impacting Barrick Mining this week:

• Positive Sentiment: Gold’s move above $4,000 an ounce and renewed central-bank buying are supporting the broader gold-mining trade, which could lift sentiment toward Barrick Mining and other producers. Gold price above USD 4,000 and central bank rally: Barrick Mining, Lahontan Gold, Newmont—time to buy now?
• Positive Sentiment: Barrick is being highlighted by market commentators as a potential beneficiary of the strong gold backdrop, reinforcing the view that the company’s core business is well positioned if bullion stays high. Man Who Called 2008 Crash Says Now Is the Time to “Invest in Early-Stage Gold Stocks”
• Positive Sentiment: Barrick’s purchase of roughly a 9.9% stake in Kingfisher Metals gives it additional exposure to the HWY 37 project and adds exploration upside through technical collaboration, which investors may view as a growth-oriented move. Barrick Mining Buys 10% Stake in Kingfisher Metals for C$20.9 Million
• Positive Sentiment: Barrick also announced the start of an exploration program with Midland on the Lewis project, signaling continued investment in future resource growth. Midland, in Partnership with Barrick, Commences an Exploration Program for Gold on the Lewis Project
• Neutral Sentiment: News that Barrick supports local content rules is more likely to be viewed as a policy and operating update than a direct earnings catalyst. Barrick supports local content rules
• Neutral Sentiment: JPMorgan lowered its price target on Barrick to $50, which adds a note of caution but does not change the broader positive gold-sector backdrop. JPMorgan Chase & Co. Lowers Barrick Mining (NYSE:B) Price Target to $50.00

Barrick Mining Trading Down 1.0%

B stock opened at $37.15 on Friday. The business has a fifty day moving average price of $38.93 and a 200 day moving average price of $42.80. 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 Corporation has a fifty-two week low of $20.94 and a fifty-two week high of $54.69. The stock has a market capitalization of $61.79 billion, a price-to-earnings ratio of 10.26, a P/E/G ratio of 0.79 and a beta of 0.48.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings data 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. The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.75 billion. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The company’s quarterly revenue was up 66.7% on a year-over-year basis. Analysts expect that Barrick Mining Corporation will post 3.61 EPS for the current fiscal 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. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, May 29th. Barrick Mining’s payout ratio is currently 19.34%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on B shares. Scotiabank reduced their target price on shares of Barrick Mining from $63.00 to $57.00 and set a “sector outperform” rating for the company in a research note on Tuesday, July 14th. JPMorgan Chase & Co. dropped their price objective on shares of Barrick Mining from $58.00 to $50.00 and set an “overweight” rating for the company in a research note on Tuesday. Bank of America reduced their price objective on shares of Barrick Mining from $58.00 to $56.00 and set a “buy” rating for the company in a report on Thursday, July 9th. UBS Group decreased their target price on shares of Barrick Mining from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Finally, Royal Bank Of Canada decreased their target price on shares of Barrick Mining from $51.00 to $49.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Barrick Mining currently has an average rating of “Moderate Buy” and an average price target of $52.46.

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.