Kestra Private Wealth Services LLC Buys 17,128 Shares of Barrick Mining Corporation $B

Kestra Private Wealth Services LLC boosted its stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 56.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,435 shares of the gold and copper producer’s stock after buying an additional 17,128 shares during the period. Kestra Private Wealth Services LLC’s holdings in Barrick Mining were worth $1,935,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Capital International Investors lifted its stake in shares of Barrick Mining by 35.9% in the 3rd quarter. Capital International Investors now owns 101,846,588 shares of the gold and copper producer’s stock valued at $3,340,709,000 after purchasing an additional 26,921,219 shares during the period. FIL Ltd grew its stake in Barrick Mining by 85.3% in the fourth quarter. FIL Ltd now owns 30,099,422 shares of the gold and copper producer’s stock worth $1,311,169,000 after purchasing an additional 13,853,587 shares during the period. Van ECK Associates Corp raised its holdings in Barrick Mining by 22.8% in the fourth quarter. Van ECK Associates Corp now owns 55,423,240 shares of the gold and copper producer’s stock worth $2,413,699,000 after purchasing an additional 10,287,544 shares in the last quarter. Ameriprise Financial Inc. bought a new position in Barrick Mining in the second quarter worth $211,263,000. Finally, Canada Pension Plan Investment Board purchased a new position in Barrick Mining during the second quarter valued at $172,230,000. 90.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on B shares. Weiss Ratings cut shares of Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. ATB Cormark Capital Markets cut shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 7th. UBS Group boosted their price objective on shares of Barrick Mining from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Canadian Imperial Bank of Commerce decreased their target price on shares of Barrick Mining to $63.00 and set an “outperformer” rating for the company in a research note on Tuesday, April 21st. Finally, Barclays assumed 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. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.46.

Barrick Mining Price Performance

B opened at $37.31 on Monday. The stock has a 50-day moving average price of $40.93 and a 200-day moving average price of $43.78. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.06 and a quick ratio of 2.44. The firm has a market cap of $62.06 billion, a PE ratio of 10.31, a P/E/G ratio of 1.06 and a beta of 0.43. Barrick Mining Corporation has a 1 year low of $20.35 and a 1 year high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly 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 for the quarter, compared to analysts’ expectations of $4.75 billion. The company’s revenue was up 66.7% on a year-over-year basis. Sell-side analysts predict that Barrick Mining Corporation will post 3.78 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were paid a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, May 29th. Barrick Mining’s dividend payout ratio is currently 19.34%.

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.