Bleakley Financial Group LLC Boosts Stock Holdings in Barrick Mining Corporation $B

Bleakley Financial Group LLC lifted its stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 53.5% during the fourth quarter, Holdings Channel reports. The fund owned 57,949 shares of the gold and copper producer’s stock after acquiring an additional 20,201 shares during the period. Bleakley Financial Group LLC’s holdings in Barrick Mining were worth $2,524,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Mmbg Investment Advisors CO. increased its position 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 worth $1,892,000 after acquiring an additional 254 shares during the period. Fisher Asset Management LLC acquired a new position in Barrick Mining during the 4th quarter worth approximately $219,000. GeoSphere Capital Management LLC acquired a new position in Barrick Mining during the 4th quarter worth approximately $1,960,000. Legal & General Group Plc grew its holdings in Barrick Mining by 1.3% during the 4th quarter. Legal & General Group Plc now owns 7,387,219 shares of the gold and copper producer’s stock worth $322,214,000 after acquiring an additional 95,479 shares in the last quarter. Finally, Genus Capital Management Inc. grew its holdings in Barrick Mining by 16.0% during the 4th quarter. Genus Capital Management Inc. now owns 234,059 shares of the gold and copper producer’s stock worth $10,209,000 after acquiring an additional 32,330 shares in the last quarter. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on B. Canaccord Genuity Group lowered their price target on shares of Barrick Mining to $77.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. JPMorgan Chase & Co. started coverage on shares of Barrick Mining in a research report on Thursday, January 29th. They set an “overweight” rating and a $68.00 price objective for the company. Wall Street Zen upgraded shares of Barrick Mining from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 7th. Citigroup upped their price target on shares of Barrick Mining from $38.00 to $48.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. Finally, Canadian Imperial Bank of Commerce reduced their price target on shares of Barrick Mining to $63.00 and set an “outperformer” rating for the company in a research report on Tuesday, April 21st. 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.46.

Barrick Mining Stock Down 2.1%

B stock opened at $41.21 on Thursday. The company has a market cap of $69.05 billion, a P/E ratio of 11.38, a P/E/G ratio of 1.14 and a beta of 0.41. Barrick Mining Corporation has a 52 week low of $18.82 and a 52 week high of $54.69. The company’s 50-day moving average price is $41.14 and its 200 day moving average price is $43.53. The company has a current ratio of 3.06, a quick ratio of 2.44 and a debt-to-equity ratio of 0.13.

Barrick Mining (NYSE:B) (TSE:ABX) last released 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 firm had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.75 billion. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. The business’s quarterly revenue was up 66.7% on a year-over-year basis. On average, research analysts expect that Barrick Mining Corporation will post 3.7 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, May 29th. Barrick Mining’s dividend payout ratio is presently 46.41%.

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.