SouthState Bank Corp Has $16.48 Million Stake in Barrick Mining Corporation $B

SouthState Bank Corp grew its position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 297.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 378,499 shares of the gold and copper producer’s stock after purchasing an additional 283,377 shares during the quarter. SouthState Bank Corp’s holdings in Barrick Mining were worth $16,484,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bogart Wealth LLC grew its position in shares of Barrick Mining by 3.5% in the fourth quarter. Bogart Wealth LLC now owns 6,442 shares of the gold and copper producer’s stock valued at $281,000 after purchasing an additional 218 shares during the last quarter. Mmbg Investment Advisors CO. grew its position in Barrick Mining by 0.6% during the fourth quarter. Mmbg Investment Advisors CO. now owns 43,454 shares of the gold and copper producer’s stock worth $1,892,000 after buying an additional 254 shares in the last quarter. S.A. Mason LLC grew its position in Barrick Mining by 1.3% during the fourth quarter. S.A. Mason LLC now owns 23,114 shares of the gold and copper producer’s stock worth $1,007,000 after buying an additional 300 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in Barrick Mining by 1.0% during the fourth quarter. Sequoia Financial Advisors LLC now owns 31,212 shares of the gold and copper producer’s stock worth $1,359,000 after buying an additional 302 shares in the last quarter. Finally, Legacy Financial Advisors Inc. grew its position in Barrick Mining by 3.9% during the fourth quarter. Legacy Financial Advisors Inc. now owns 8,569 shares of the gold and copper producer’s stock worth $373,000 after buying an additional 319 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on B. Canadian Imperial Bank of Commerce reduced their price target on Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a research report on Tuesday, April 21st. Canaccord Genuity Group reduced their price target on Barrick Mining to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, February 18th. Wall Street Zen raised Barrick Mining from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 7th. UBS Group increased their price target on Barrick Mining from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, Weiss Ratings downgraded Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Barrick Mining presently has an average rating of “Moderate Buy” and an average price target of $53.46.

Barrick Mining Trading Down 7.9%

Shares of NYSE:B opened at $39.42 on Friday. The company has a market capitalization of $66.06 billion, a P/E ratio of 10.89, a P/E/G ratio of 1.12 and a beta of 0.44. Barrick Mining Corporation has a 1 year low of $19.57 and a 1 year high of $54.69. 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 business’s 50 day simple moving average is $41.56 and its 200 day simple moving average is $43.78.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.18. The firm had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.75 billion. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The company’s quarterly revenue was up 66.7% on a year-over-year basis. On average, research analysts anticipate that Barrick Mining Corporation will post 3.78 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The firm also recently announced 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. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, May 29th. Barrick Mining’s dividend payout ratio (DPR) is currently 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.