Bank of Nova Scotia Boosts Holdings in Barrick Mining Corporation $B

Bank of Nova Scotia raised its stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 24.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,601,107 shares of the gold and copper producer’s stock after acquiring an additional 1,106,825 shares during the quarter. Bank of Nova Scotia owned approximately 0.33% of Barrick Mining worth $184,126,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. bought a new stake in shares of Barrick Mining in the 2nd quarter worth approximately $1,459,633,000. Arrowstreet Capital Limited Partnership purchased a new position in Barrick Mining in the second quarter valued at approximately $1,091,122,000. Capital International Investors grew its holdings in 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 valued at $3,340,709,000 after purchasing an additional 26,921,219 shares during the period. Geode Capital Management LLC bought a new position in Barrick Mining during the second quarter valued at $307,855,000. Finally, CIBC Asset Management Inc increased its position in Barrick Mining by 316.0% in the third quarter. CIBC Asset Management Inc now owns 18,287,558 shares of the gold and copper producer’s stock worth $601,115,000 after buying an additional 13,891,886 shares during the last quarter. 90.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on B. Canaccord Genuity Group lowered their target price on Barrick Mining to $77.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. DZ Bank raised Barrick Mining to a “strong-buy” rating in a report on Monday, January 19th. UBS Group set a $55.00 price objective on Barrick Mining in a research note on Friday, February 6th. Raymond James Financial upped their price objective on shares of Barrick Mining from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Tuesday, November 25th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Barrick Mining in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Barrick Mining has a consensus rating of “Moderate Buy” and an average target price of $55.25.

Barrick Mining Price Performance

Barrick Mining stock opened at $42.31 on Friday. The firm has a market capitalization of $70.88 billion, a P/E ratio of 14.44, a PEG ratio of 1.32 and a beta of 0.41. Barrick Mining Corporation has a one year low of $17.00 and a one year high of $54.69. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 2.33. The business has a fifty day moving average price of $47.96 and a 200-day moving average price of $40.03.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings data on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.19. The company had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.15 billion. Barrick Mining had a return on equity of 12.10% and a net margin of 29.45%.Barrick Mining’s revenue was up 44.6% on a year-over-year basis. As a group, equities research analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be given a dividend of $0.42 per share. This is a boost from Barrick Mining’s previous quarterly dividend of $0.18. This represents a $1.68 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Friday, February 27th. Barrick Mining’s dividend payout ratio (DPR) is currently 57.34%.

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.