Barrick Mining Corporation (NYSE:B) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp boosted its holdings in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 1.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,614,848 shares of the gold and copper producer’s stock after acquiring an additional 296,472 shares during the period. Mackenzie Financial Corp owned about 0.91% of Barrick Mining worth $303,161,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vega Investment Solutions acquired a new position in Barrick Mining during the fourth quarter worth about $31,000. Nexus Investment Management ULC acquired a new position in shares of Barrick Mining in the first quarter valued at approximately $32,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Barrick Mining in the fourth quarter valued at approximately $37,000. Ameriflex Group Inc. acquired a new position in shares of Barrick Mining in the fourth quarter valued at approximately $39,000. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Barrick Mining by 55.8% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 2,193 shares of the gold and copper producer’s stock valued at $43,000 after buying an additional 785 shares during the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barrick Mining Stock Up 1.1%

Shares of NYSE:B opened at $21.78 on Monday. The company’s fifty day moving average is $20.54 and its two-hundred day moving average is $19.01. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.16 and a current ratio of 2.87. Barrick Mining Corporation has a 1-year low of $15.11 and a 1-year high of $21.95. The stock has a market capitalization of $37.15 billion, a price-to-earnings ratio of 16.37, a price-to-earnings-growth ratio of 0.33 and a beta of 0.28.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. Barrick Mining had a net margin of 17.46% and a return on equity of 7.51%. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same period last year, the firm posted $0.19 EPS. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. Equities analysts anticipate that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a $0.10 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.84%. Barrick Mining’s dividend payout ratio (DPR) is presently 30.08%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on B shares. Scotiabank boosted their price objective on shares of Barrick Mining from $20.00 to $22.00 and gave the company a “sector perform” rating in a research report on Monday, April 14th. CIBC boosted their target price on shares of Barrick Mining from $24.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. National Bankshares restated an “outperform” rating on shares of Barrick Mining in a report on Wednesday, April 2nd. UBS Group boosted their target price on shares of Barrick Mining from $22.00 to $25.00 and gave the company a “buy” rating in a report on Friday, April 11th. Finally, Raymond James Financial boosted their target price on shares of Barrick Mining from $23.00 to $23.50 and gave the company an “outperform” rating in a report on Monday, March 31st. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $24.41.

Barrick Mining Profile

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.
 
In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.