Metis Global Partners LLC Acquires 22,902 Shares of Barrick Mining Corporation $B

Metis Global Partners LLC boosted its holdings in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 13.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 199,263 shares of the gold and copper producer’s stock after acquiring an additional 22,902 shares during the period. Metis Global Partners LLC’s holdings in Barrick Mining were worth $6,545,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. bought a new position in shares of Barrick Mining during the 2nd quarter valued at $1,459,633,000. Measured Wealth Private Client Group LLC purchased a new stake in Barrick Mining during the second quarter valued at $696,000. Philadelphia Trust Co. bought a new position in Barrick Mining in the second quarter valued at about $1,412,000. CIBC Asset Management Inc lifted its holdings 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 valued at $601,115,000 after acquiring an additional 13,891,886 shares during the period. Finally, Cadence Wealth Management LLC purchased a new position in Barrick Mining in the second quarter worth about $1,112,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Barrick Mining Stock Performance

B opened at $45.42 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.33 and a current ratio of 2.92. The stock has a market capitalization of $76.10 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 0.38 and a beta of 0.40. The company has a fifty day moving average of $46.36 and a 200 day moving average of $36.42. Barrick Mining Corporation has a fifty-two week low of $17.00 and a fifty-two week high of $54.69.

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

Barrick Mining Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, February 27th. This is an increase from Barrick Mining’s previous quarterly dividend of $0.18. Barrick Mining’s dividend payout ratio is 23.89%.

Analysts Set New Price Targets

Several research firms have recently commented on B. Raymond James Financial upped their price target on shares of Barrick Mining from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Tuesday, November 25th. JPMorgan Chase & Co. started coverage on shares of Barrick Mining in a report on Thursday, January 29th. They set an “overweight” rating and a $68.00 target price for the company. UBS Group set a $55.00 price target on shares of Barrick Mining in a research report on Friday, February 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Barrick Mining in a research note on Monday, December 29th. Finally, Citigroup upped their price objective on Barrick Mining from $38.00 to $48.00 and gave the stock a “neutral” rating in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Barrick Mining has a consensus rating of “Moderate Buy” and a consensus target price of $53.58.

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.