Vanguard Group Inc. Acquires 767,544 Shares of Barrick Mining Corporation $B

Vanguard Group Inc. increased its holdings in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 1.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,878,168 shares of the gold and copper producer’s stock after purchasing an additional 767,544 shares during the period. Vanguard Group Inc. owned 4.20% of Barrick Mining worth $2,327,991,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Legend Financial Advisors Inc. boosted its position in shares of Barrick Mining by 0.9% during the third quarter. Legend Financial Advisors Inc. now owns 45,139 shares of the gold and copper producer’s stock worth $1,479,000 after acquiring an additional 399 shares during the last quarter. Ascent Group LLC boosted its holdings in shares of Barrick Mining by 2.9% during the 3rd quarter. Ascent Group LLC now owns 14,514 shares of the gold and copper producer’s stock valued at $476,000 after purchasing an additional 404 shares during the last quarter. Prospera Financial Services Inc increased its holdings in shares of Barrick Mining by 1.0% in the third quarter. Prospera Financial Services Inc now owns 67,019 shares of the gold and copper producer’s stock worth $2,196,000 after purchasing an additional 643 shares during the last quarter. Nexus Investment Management ULC lifted its position in shares of Barrick Mining by 39.4% in the third quarter. Nexus Investment Management ULC now owns 2,300 shares of the gold and copper producer’s stock worth $75,000 after buying an additional 650 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Barrick Mining by 2.3% during the third quarter. PNC Financial Services Group Inc. now owns 30,220 shares of the gold and copper producer’s stock valued at $990,000 after buying an additional 692 shares during the last quarter. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Mining Stock Performance

Shares of NYSE:B opened at $48.55 on Friday. The company has a market capitalization of $81.34 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 0.39 and a beta of 0.40. Barrick Mining Corporation has a 12 month low of $17.00 and a 12 month high of $54.69. The firm’s 50-day moving average is $47.01 and its 200 day moving average is $37.34. 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 (NYSE:B) (TSE:ABX) last announced its quarterly earnings data on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.19. The business had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $5.15 billion. Barrick Mining had a net margin of 29.45% and a return on equity of 12.10%. The business’s revenue was up 44.6% on a year-over-year basis. Research analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be paid a dividend of $0.42 per share. This is an increase from Barrick Mining’s previous quarterly dividend of $0.18. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, February 27th. Barrick Mining’s payout ratio is presently 23.89%.

Analysts Set New Price Targets

A number of research firms have issued reports on B. Wall Street Zen raised Barrick Mining from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 7th. Raymond James Financial raised their target price on shares of Barrick Mining from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Tuesday, November 25th. TD Cowen restated a “buy” rating on shares of Barrick Mining in a research report on Wednesday, November 26th. Scotiabank upped their target price on shares of Barrick Mining from $43.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Finally, Zacks Research cut Barrick Mining from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 13th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Barrick Mining currently has an average rating of “Moderate Buy” and an average target price of $55.25.

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.