CIBC Asset Management Inc Grows Position in Barrick Mining Corporation $B

CIBC Asset Management Inc raised its holdings in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 8.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,902,944 shares of the gold and copper producer’s stock after buying an additional 1,615,386 shares during the period. Barrick Mining comprises approximately 2.1% of CIBC Asset Management Inc’s investment portfolio, making the stock its 7th biggest holding. CIBC Asset Management Inc owned approximately 1.19% of Barrick Mining worth $869,964,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Westside Investment Management Inc. bought a new position in shares of Barrick Mining in the fourth quarter valued at about $25,000. Financial Consulate Inc. raised its position in shares of Barrick Mining by 1,042.0% in the fourth quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock valued at $25,000 after purchasing an additional 521 shares during the period. Laurel Wealth Advisors LLC bought a new position in shares of Barrick Mining in the fourth quarter valued at about $30,000. Lodestone Wealth Management LLC bought a new position in shares of Barrick Mining in the fourth quarter valued at about $35,000. Finally, Nisa Investment Advisors LLC bought a new position in shares of Barrick Mining in the fourth quarter valued at about $35,000. 90.82% of the stock is owned by institutional investors.

Barrick Mining Price Performance

B stock opened at $43.15 on Wednesday. The company has a quick ratio of 2.44, a current ratio of 3.06 and a debt-to-equity ratio of 0.13. Barrick Mining Corporation has a 12 month low of $19.57 and a 12 month high of $54.69. The firm has a market cap of $72.30 billion, a P/E ratio of 11.92, a P/E/G ratio of 1.12 and a beta of 0.44. The company’s 50-day moving average price is $41.25 and its two-hundred day moving average price is $43.69.

Barrick Mining (NYSE:B) (TSE:ABX) last released its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, beating 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 firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.75 billion. The firm’s quarterly revenue was up 66.7% on a year-over-year basis. On average, analysts anticipate that Barrick Mining Corporation will post 3.78 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The firm also recently declared 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 is Friday, May 29th. This represents a $0.70 annualized dividend and a dividend yield of 1.6%. Barrick Mining’s dividend payout ratio (DPR) is presently 19.34%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on B. Barclays started coverage on shares of Barrick Mining in a research report on Thursday, May 21st. They issued an “equal weight” rating and a $41.00 price objective on the stock. Citigroup increased their target price on Barrick Mining from $38.00 to $48.00 and gave the stock a “neutral” rating in a research note on Monday, February 9th. Canadian Imperial Bank of Commerce lowered their target price on Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a research note on Tuesday, April 21st. Wall Street Zen upgraded Barrick Mining from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 7th. Finally, UBS Group increased their target price on Barrick Mining from $50.00 to $54.00 and gave the stock 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.