Purpose Unlimited Inc. Buys New Position in Barrick Mining Corporation $B

Purpose Unlimited Inc. purchased a new stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 45,649 shares of the gold and copper producer’s stock, valued at approximately $1,992,000.

Several other institutional investors have also added to or reduced their stakes in B. Financial Consulate Inc. increased its holdings in shares of Barrick Mining by 1,042.0% during the fourth quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock valued at $25,000 after acquiring an additional 521 shares in the last quarter. Westside Investment Management Inc. acquired a new stake in Barrick Mining in the 4th quarter worth approximately $25,000. Intesa Sanpaolo Wealth Management purchased a new stake in Barrick Mining during the 4th quarter worth approximately $26,000. JPL Wealth Management LLC purchased a new stake in Barrick Mining during the 3rd quarter worth approximately $28,000. Finally, Laurel Wealth Advisors LLC acquired a new position in Barrick Mining during the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barrick Mining Stock Performance

B opened at $40.32 on Friday. Barrick Mining Corporation has a 12-month low of $20.35 and a 12-month high of $54.69. The company has a current ratio of 3.06, a quick ratio of 2.44 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $67.07 billion, a PE ratio of 11.14, a P/E/G ratio of 1.15 and a beta of 0.44. The firm has a 50 day moving average of $41.48 and a two-hundred day moving average of $43.88.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings data 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. The business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.75 billion. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. The firm’s revenue was up 66.7% on a year-over-year basis. On average, analysts anticipate that Barrick Mining Corporation will post 3.78 EPS for the current year.

Barrick Mining Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, May 29th. Barrick Mining’s dividend payout ratio (DPR) is 19.34%.

Wall Street Analysts Forecast Growth

B has been the subject of a number of research analyst reports. Canadian Imperial Bank of Commerce decreased their price target on shares of Barrick Mining to $63.00 and set an “outperformer” rating for the company in a report on Tuesday, April 21st. Weiss Ratings lowered shares of Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Barclays began coverage on Barrick Mining in a research report on Thursday, May 21st. They issued an “equal weight” rating and a $41.00 target price on the stock. UBS Group raised 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. Finally, ATB Cormark Capital Markets cut Barrick Mining from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $53.46.

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.