Ritholtz Wealth Management Boosts Stock Holdings in Barrick Mining Corporation $B

Ritholtz Wealth Management increased its stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 62.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,092 shares of the gold and copper producer’s stock after acquiring an additional 23,394 shares during the period. Ritholtz Wealth Management’s holdings in Barrick Mining were worth $2,492,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Financial Consulate Inc. grew 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 purchasing an additional 521 shares in the last quarter. Westside Investment Management Inc. acquired a new stake in Barrick Mining in the 4th quarter valued at about $25,000. Intesa Sanpaolo Wealth Management acquired a new stake in Barrick Mining in the 4th quarter valued at about $26,000. JPL Wealth Management LLC purchased a new position in shares of Barrick Mining in the 3rd quarter valued at about $28,000. Finally, Laurel Wealth Advisors LLC purchased a new position in shares of Barrick Mining in the 4th quarter valued at about $30,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on B. Barclays began coverage on shares of Barrick Mining in a research note on Thursday, May 21st. They set an “equal weight” rating and a $41.00 target price on the stock. 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. ATB Cormark Capital Markets cut shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. Canadian Imperial Bank of Commerce dropped 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. Finally, UBS Group raised their price objective on shares of Barrick Mining from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.46.

Barrick Mining Stock Performance

Shares of B opened at $37.31 on Friday. The company has a market capitalization of $62.06 billion, a price-to-earnings ratio of 10.31, a price-to-earnings-growth ratio of 1.05 and a beta of 0.44. Barrick Mining Corporation has a 52-week low of $20.35 and a 52-week 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 stock has a 50 day moving average price of $40.93 and a 200 day moving average price of $43.76.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings data on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.18. The business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.75 billion. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. The company’s quarterly revenue was up 66.7% compared to the same quarter last year. Research analysts predict that Barrick Mining Corporation will post 3.78 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were issued a dividend of $0.175 per share. The ex-dividend date of this dividend 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%.

Barrick Mining Company 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.