Van ECK Associates Corp Boosts Stock Holdings in Barrick Mining Corporation $B

Van ECK Associates Corp lifted its holdings in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 22.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 55,423,240 shares of the gold and copper producer’s stock after buying an additional 10,287,544 shares during the period. Barrick Mining makes up approximately 2.0% of Van ECK Associates Corp’s portfolio, making the stock its 7th biggest holding. Van ECK Associates Corp’s holdings in Barrick Mining were worth $2,413,699,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Westside Investment Management Inc. purchased a new position in shares of Barrick Mining in the 4th quarter worth approximately $25,000. Financial Consulate Inc. increased its stake in shares of Barrick Mining by 1,042.0% during the 4th quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock worth $25,000 after purchasing an additional 521 shares during the last quarter. Intesa Sanpaolo Wealth Management purchased a new position in Barrick Mining in the 4th quarter valued at approximately $26,000. Laurel Wealth Advisors LLC purchased a new position in Barrick Mining in the 4th quarter valued at approximately $30,000. Finally, Lodestone Wealth Management LLC purchased a new position in Barrick Mining in the 4th quarter valued at approximately $35,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on B shares. Canaccord Genuity Group reduced their price objective on shares of Barrick Mining to $77.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th. Weiss Ratings lowered shares of Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Canadian Imperial Bank of Commerce reduced their price objective on shares of Barrick Mining to $63.00 and set an “outperformer” rating for the company in a research note on Tuesday, April 21st. Barclays started coverage on shares of Barrick Mining in a research note on Thursday, May 21st. They issued an “equal weight” rating and a $41.00 price objective for the company. Finally, UBS Group lifted their price objective on shares of Barrick Mining from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. One 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 company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $53.46.

Barrick Mining Stock Performance

Barrick Mining stock opened at $40.22 on Friday. The company has a quick ratio of 2.44, a current ratio of 3.06 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $66.89 billion, a PE ratio of 11.11, a P/E/G ratio of 1.11 and a beta of 0.44. Barrick Mining Corporation has a twelve month low of $20.35 and a twelve month high of $54.69. The firm has a fifty day simple moving average of $41.51 and a two-hundred day simple moving average of $43.85.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings results on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.18. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The business had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.75 billion. The business’s revenue was up 66.7% compared to the same quarter last year. Research analysts expect that Barrick Mining Corporation will post 3.78 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. Shareholders of record on Friday, May 29th will be issued a $0.175 dividend. The ex-dividend date is Friday, May 29th. This represents a $0.70 annualized dividend and a yield of 1.7%. Barrick Mining’s dividend payout ratio (DPR) is 19.34%.

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.