BW Gestao de Investimentos Ltda. Acquires 205,959 Shares of Barrick Mining Corporation $B

BW Gestao de Investimentos Ltda. increased its holdings in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 206.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 305,959 shares of the gold and copper producer’s stock after purchasing an additional 205,959 shares during the quarter. BW Gestao de Investimentos Ltda.’s holdings in Barrick Mining were worth $13,325,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Capital International Investors raised its stake in shares of Barrick Mining by 35.9% during the third quarter. Capital International Investors now owns 101,846,588 shares of the gold and copper producer’s stock worth $3,340,709,000 after buying an additional 26,921,219 shares during the last quarter. Vanguard Group Inc. grew its holdings in Barrick Mining by 1.1% during the third quarter. Vanguard Group Inc. now owns 70,878,168 shares of the gold and copper producer’s stock valued at $2,327,991,000 after purchasing an additional 767,544 shares during the period. TD Asset Management Inc grew its holdings in Barrick Mining by 3.8% during the third quarter. TD Asset Management Inc now owns 19,309,335 shares of the gold and copper producer’s stock valued at $634,346,000 after purchasing an additional 715,151 shares during the period. Geode Capital Management LLC grew its holdings in Barrick Mining by 7.0% during the fourth quarter. Geode Capital Management LLC now owns 17,733,900 shares of the gold and copper producer’s stock valued at $802,477,000 after purchasing an additional 1,154,790 shares during the period. Finally, Mackenzie Financial Corp grew its holdings in Barrick Mining by 7.6% during the third quarter. Mackenzie Financial Corp now owns 12,721,334 shares of the gold and copper producer’s stock valued at $417,739,000 after purchasing an additional 893,630 shares during the period. 90.82% of the stock is owned by institutional investors.

Barrick Mining Stock Performance

Shares of B opened at $42.35 on Tuesday. Barrick Mining Corporation has a 12 month low of $19.43 and a 12 month high of $54.69. The firm has a fifty day simple moving average of $41.25 and a 200 day simple moving average of $43.69. The stock has a market capitalization of $70.96 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.13 and a beta of 0.43. 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 announced its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, topping the consensus estimate of $0.80 by $0.18. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. The business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.75 billion. The business’s revenue was up 66.7% compared to the same quarter last year. Research analysts forecast that Barrick Mining Corporation will post 3.78 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Barrick Mining from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 7th. Weiss Ratings cut shares of Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. 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 report on Tuesday, April 21st. Canaccord Genuity Group reduced 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. Finally, Barclays assumed coverage on shares of Barrick Mining in a report on Thursday, May 21st. They issued an “equal weight” rating and a $41.00 price target for the company. One 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.