Gibbs Wealth Management Raises Holdings in Barrick Mining Corporation $B

Gibbs Wealth Management increased its stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 107.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,799 shares of the gold and copper producer’s stock after acquiring an additional 19,020 shares during the quarter. Gibbs Wealth Management’s holdings in Barrick Mining were worth $1,501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of B. Westside Investment Management Inc. bought a new position in Barrick Mining during the 4th quarter valued at approximately $25,000. Financial Consulate Inc. grew its position in shares of Barrick Mining by 1,042.0% in the 4th quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock worth $25,000 after buying an additional 521 shares during the last quarter. Intesa Sanpaolo Wealth Management bought a new stake in shares of Barrick Mining in the 4th quarter worth approximately $26,000. Ascentis Independent Advisors purchased a new position in shares of Barrick Mining during the first quarter valued at approximately $28,000. Finally, Laurel Wealth Advisors LLC purchased a new position in shares of Barrick Mining during the fourth quarter valued at approximately $30,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Royal Bank Of Canada dropped their price target on Barrick Mining from $51.00 to $49.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Canadian Imperial Bank of Commerce reduced their price objective on shares of Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a research report on Tuesday, April 21st. Scotiabank reduced their price objective on shares of Barrick Mining from $63.00 to $57.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, July 14th. Citigroup restated a “positive” rating on shares of Barrick Mining in a report on Wednesday, July 15th. Finally, UBS Group cut their target price on shares of Barrick Mining from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.46.

Key Barrick Mining News

Here are the key news stories impacting Barrick Mining this week:

• Positive Sentiment: Gold’s move above $4,000 an ounce and renewed central-bank buying are supporting the broader gold-mining trade, which could lift sentiment toward Barrick Mining and other producers. Gold price above USD 4,000 and central bank rally: Barrick Mining, Lahontan Gold, Newmont—time to buy now?
• Positive Sentiment: Barrick is being highlighted by market commentators as a potential beneficiary of the strong gold backdrop, reinforcing the view that the company’s core business is well positioned if bullion stays high. Man Who Called 2008 Crash Says Now Is the Time to “Invest in Early-Stage Gold Stocks”
• Positive Sentiment: Barrick’s purchase of roughly a 9.9% stake in Kingfisher Metals gives it additional exposure to the HWY 37 project and adds exploration upside through technical collaboration, which investors may view as a growth-oriented move. Barrick Mining Buys 10% Stake in Kingfisher Metals for C$20.9 Million
• Positive Sentiment: Barrick also announced the start of an exploration program with Midland on the Lewis project, signaling continued investment in future resource growth. Midland, in Partnership with Barrick, Commences an Exploration Program for Gold on the Lewis Project
• Neutral Sentiment: News that Barrick supports local content rules is more likely to be viewed as a policy and operating update than a direct earnings catalyst. Barrick supports local content rules
• Neutral Sentiment: JPMorgan lowered its price target on Barrick to $50, which adds a note of caution but does not change the broader positive gold-sector backdrop. JPMorgan Chase & Co. Lowers Barrick Mining (NYSE:B) Price Target to $50.00

Barrick Mining Trading Down 1.0%

Shares of NYSE B opened at $37.15 on Friday. Barrick Mining Corporation has a 1 year low of $20.94 and a 1 year high of $54.69. The stock has a market cap of $61.79 billion, a P/E ratio of 10.26, a price-to-earnings-growth ratio of 0.79 and a beta of 0.48. The firm has a 50-day moving average of $38.93 and a 200 day moving average of $42.80. 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 issued its quarterly earnings results on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $4.75 billion. The firm’s quarterly revenue was up 66.7% on a year-over-year basis. As a group, sell-side analysts expect that Barrick Mining Corporation will post 3.61 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were issued a dividend of $0.175 per share. The ex-dividend date was Friday, May 29th. This represents a $0.70 annualized dividend and a dividend yield of 1.9%. Barrick Mining’s dividend payout ratio (DPR) is presently 19.34%.

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.