Legal & General Group Plc Boosts Stock Position in Barrick Mining Corporation $B

Legal & General Group Plc lifted its stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 1.3% in the fourth quarter, HoldingsChannel reports. The fund owned 7,387,219 shares of the gold and copper producer’s stock after acquiring an additional 95,479 shares during the period. Legal & General Group Plc’s holdings in Barrick Mining were worth $322,214,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in B. Financial Consulate Inc. raised its stake in Barrick Mining by 1,042.0% during the 4th quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock worth $25,000 after acquiring an additional 521 shares during the period. Westside Investment Management Inc. bought a new position in shares of Barrick Mining in the fourth quarter worth approximately $25,000. JPL Wealth Management LLC bought a new position in shares of Barrick Mining in the third quarter worth approximately $28,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Barrick Mining in the fourth quarter worth $30,000. Finally, Pin Oak Investment Advisors Inc. bought a new stake in shares of Barrick Mining during the 3rd quarter valued at $31,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Mining Stock Performance

NYSE:B opened at $42.03 on Wednesday. The company has a market cap of $70.42 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 1.10 and a beta of 0.41. Barrick Mining Corporation has a 1 year low of $18.58 and a 1 year high of $54.69. The stock’s 50 day simple moving average is $41.18 and its two-hundred day simple moving average is $43.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.06 and a quick ratio of 2.44.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.18. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.75 billion. The firm’s quarterly revenue was up 66.7% compared to the same quarter last year. As a group, equities analysts anticipate that Barrick Mining Corporation will post 3.7 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be given a dividend of $0.175 per share. The ex-dividend date is Friday, May 29th. This represents a $0.70 annualized dividend and a yield of 1.7%. Barrick Mining’s dividend payout ratio (DPR) is 46.41%.

Analyst Ratings Changes

A number of research firms recently weighed in on B. ATB Cormark Capital Markets cut shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Canaccord Genuity Group decreased their price target on Barrick Mining to $77.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. Weiss Ratings downgraded Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. 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, February 9th. 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 report on Tuesday, May 12th. 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 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.