Truist Financial Corp Acquires 16,027 Shares of Barrick Mining Corporation $B

Truist Financial Corp grew its stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 24.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 81,139 shares of the gold and copper producer’s stock after acquiring an additional 16,027 shares during the period. Truist Financial Corp’s holdings in Barrick Mining were worth $3,534,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. CW Advisors LLC bought a new stake in shares of Barrick Mining in the 2nd quarter valued at about $283,000. EverSource Wealth Advisors LLC bought a new position in Barrick Mining during the 2nd quarter worth about $53,000. First Trust Advisors LP bought a new position in shares of Barrick Mining during the second quarter worth about $857,000. Baird Financial Group Inc. acquired a new stake in shares of Barrick Mining in the second quarter valued at approximately $2,569,000. Finally, Cresset Asset Management LLC bought a new stake in Barrick Mining during the 2nd quarter worth about $543,000. Institutional investors own 90.82% of the company’s stock.

Key Barrick Mining News

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

• Positive Sentiment: Barrick’s Q1 results beat EPS estimates, with production and cost control coming in better than expected, reinforcing the company’s operating momentum. Barrick Mining’s Q1 Changed Everything (Review)
• Positive Sentiment: The board authorized a $3.0 billion share repurchase, which can boost earnings per share over time and signals confidence in Barrick’s cash generation. Barrick Board Authorizes $3.0 Billion Share Repurchase
• Positive Sentiment: Barrick also declared a quarterly dividend of $0.175 per share, adding another sign of strong free cash flow and shareholder-friendly capital allocation. Barrick Declares Q1 Dividend
• Positive Sentiment: Reports highlighted above-guidance gold production and robust free cash flow, which helped fuel the stock’s rally and improve sentiment on full-year execution. Barrick Mining jumps as Q1 results beat production guidance and company outlines shareholder-return plans

Wall Street Analyst Weigh In

A number of research analysts have recently commented on B shares. JPMorgan Chase & Co. assumed coverage on shares of Barrick Mining in a research report on Thursday, January 29th. They issued an “overweight” rating and a $68.00 price objective for the company. Citigroup lifted their target price on Barrick Mining from $38.00 to $48.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. UBS Group cut their price target on Barrick Mining from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, March 27th. Scotiabank increased their price objective on shares of Barrick Mining from $43.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Barrick Mining in a research note on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.17.

Barrick Mining Trading Up 9.2%

NYSE B opened at $47.12 on Tuesday. The company has a current ratio of 2.92, a quick ratio of 2.33 and a debt-to-equity ratio of 0.13. Barrick Mining Corporation has a 12 month low of $17.41 and a 12 month high of $54.69. The business’s 50-day moving average price is $42.16 and its two-hundred day moving average price is $42.73. The firm has a market capitalization of $78.95 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 1.29 and a beta of 0.41.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings data on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.19. Barrick Mining had a return on equity of 12.10% and a net margin of 29.45%.The firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.75 billion. The firm’s revenue for the quarter was up 66.7% on a year-over-year basis. On average, analysts expect that Barrick Mining Corporation will post 3.56 EPS for the current year.

Barrick Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be paid a $0.175 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.70 annualized dividend and a dividend yield of 1.5%. Barrick Mining’s dividend payout ratio is 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.