Royal Bank of Canada Purchases 3,881,841 Shares of Barrick Mining Corporation $B

Royal Bank of Canada increased its position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 10.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 39,598,520 shares of the gold and copper producer’s stock after purchasing an additional 3,881,841 shares during the quarter. Royal Bank of Canada’s holdings in Barrick Mining were worth $1,615,225,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in B. Van ECK Associates Corp increased its stake in Barrick Mining by 22.8% in the 4th quarter. Van ECK Associates Corp now owns 55,423,240 shares of the gold and copper producer’s stock valued at $2,413,699,000 after buying an additional 10,287,544 shares during the last quarter. FIL Ltd boosted its stake in shares of Barrick Mining by 85.3% in the 4th quarter. FIL Ltd now owns 30,099,422 shares of the gold and copper producer’s stock worth $1,311,169,000 after buying an additional 13,853,587 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of Barrick Mining by 61.9% in the 4th quarter. Mackenzie Financial Corp now owns 20,591,745 shares of the gold and copper producer’s stock worth $909,104,000 after buying an additional 7,870,411 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of Barrick Mining by 5.6% in the 4th quarter. TD Asset Management Inc now owns 20,395,667 shares of the gold and copper producer’s stock worth $889,627,000 after buying an additional 1,086,332 shares during the last quarter. Finally, CIBC Asset Management Inc grew its holdings in shares of Barrick Mining by 8.8% in the fourth quarter. CIBC Asset Management Inc now owns 19,902,944 shares of the gold and copper producer’s stock valued at $869,964,000 after acquiring an additional 1,615,386 shares in the last quarter. 90.82% of the stock is owned by institutional investors.

Barrick Mining Stock Performance

NYSE B opened at $36.78 on Wednesday. The company’s 50 day moving average is $38.74 and its 200-day moving average is $42.59. Barrick Mining Corporation has a 12-month low of $20.94 and a 12-month high of $54.69. The company has a quick ratio of 2.44, a current ratio of 3.06 and a debt-to-equity ratio of 0.13. The firm has a market cap of $61.18 billion, a P/E ratio of 10.16, a price-to-earnings-growth ratio of 0.79 and a beta of 0.48.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly 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 net margin of 32.14% and a return on equity of 14.81%. The company had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.75 billion. The firm’s revenue was up 66.7% compared to the same quarter last year. Sell-side analysts predict that Barrick Mining Corporation will post 3.57 earnings per share for the current 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 $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, May 29th. Barrick Mining’s dividend payout ratio (DPR) is presently 19.34%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Citigroup reaffirmed a “positive” rating on shares of Barrick Mining in a research report on Wednesday, July 15th. UBS Group lowered their target price on Barrick Mining from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. JPMorgan Chase & Co. cut their price target on shares of Barrick Mining from $58.00 to $50.00 and set an “overweight” rating on the stock in a report on Tuesday, July 21st. Bank of America reduced their price target on shares of Barrick Mining from $58.00 to $56.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Finally, Scotiabank decreased their price objective on shares of Barrick Mining from $63.00 to $57.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $52.46.

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.