Geode Capital Management LLC Buys 1,154,790 Shares of Barrick Mining Corporation $B

Geode Capital Management LLC grew its stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 7.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,733,900 shares of the gold and copper producer’s stock after buying an additional 1,154,790 shares during the quarter. Geode Capital Management LLC owned approximately 1.06% of Barrick Mining worth $802,477,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of B. CW Advisors LLC bought a new stake in shares of Barrick Mining during the second quarter worth $283,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Barrick Mining during the second quarter valued at about $53,000. First Trust Advisors LP acquired a new stake in shares of Barrick Mining during the second quarter valued at about $857,000. Baird Financial Group Inc. acquired a new stake in shares of Barrick Mining during the second quarter valued at about $2,569,000. Finally, Cresset Asset Management LLC acquired a new stake in shares of Barrick Mining during the second quarter valued at about $543,000. Institutional investors own 90.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on B shares. Citigroup lifted their price target on Barrick Mining from $38.00 to $48.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. ATB Cormark Capital Markets lowered Barrick Mining from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Weiss Ratings downgraded shares of Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Canadian Imperial Bank of Commerce dropped their price target on shares of Barrick Mining to $63.00 and set an “outperformer” rating for the company in a research note on Tuesday, April 21st. Finally, Wall Street Zen raised Barrick Mining from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 7th. One 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 stock. Based on data from MarketBeat.com, Barrick Mining has an average rating of “Moderate Buy” and an average price target of $53.46.

Barrick Mining Stock Up 2.2%

Shares of NYSE:B opened at $42.63 on Friday. The company has a market capitalization of $71.42 billion, a price-to-earnings ratio of 11.77, a P/E/G ratio of 1.10 and a beta of 0.41. 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 moving average is $41.17 and its 200-day moving average is $43.58. Barrick Mining Corporation has a 1 year low of $18.83 and a 1 year high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings data on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.18. The company 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 firm’s quarterly revenue was up 66.7% compared to the same quarter last year. Equities research analysts predict that Barrick Mining Corporation will post 3.78 earnings per share for the current year.

Barrick Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be paid a $0.175 dividend. The ex-dividend date is Friday, May 29th. This represents a $0.70 annualized dividend and a dividend yield of 1.6%. Barrick Mining’s payout ratio is currently 46.41%.

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.