Catalyst Capital Advisors LLC Boosts Stake in Barrick Mining Corporation $B

Catalyst Capital Advisors LLC grew its position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 1,654.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 50,000 shares of the gold and copper producer’s stock after acquiring an additional 47,150 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Barrick Mining were worth $2,040,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. CW Advisors LLC purchased a new stake in shares of Barrick Mining in the second quarter worth approximately $283,000. EverSource Wealth Advisors LLC bought a new stake in shares of Barrick Mining in the second quarter valued at about $53,000. First Trust Advisors LP purchased a new stake in Barrick Mining in the second quarter worth about $857,000. Baird Financial Group Inc. bought a new position in shares of Barrick Mining during the second quarter valued at approximately $2,569,000. Finally, Cresset Asset Management LLC purchased a new position in shares of Barrick Mining in the 2nd quarter valued at $543,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Analyst Ratings Changes

B has been the subject of a number of research analyst reports. Citigroup reaffirmed a “positive” rating on shares of Barrick Mining in a report on Wednesday. Scotiabank decreased their target price on shares of Barrick Mining from $63.00 to $57.00 and set a “sector outperform” rating for the company in a research note on Tuesday. UBS Group reduced their price target on Barrick Mining from $54.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Barclays lowered their price target on Barrick Mining from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, ATB Cormark Capital Markets downgraded Barrick Mining from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.85.

Barrick Mining Stock Performance

Shares of NYSE:B opened at $34.93 on Friday. 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 Corporation has a 1 year low of $20.68 and a 1 year high of $54.69. The firm has a market capitalization of $58.10 billion, a PE ratio of 9.65, a P/E/G ratio of 0.75 and a beta of 0.48. The business’s 50 day moving average price is $39.63 and its 200-day moving average price is $43.01.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings data on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.75 billion. The firm’s quarterly revenue was up 66.7% on a year-over-year basis. As a group, equities research analysts expect that Barrick Mining Corporation will post 3.63 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were paid a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Friday, May 29th. Barrick Mining’s dividend payout ratio is currently 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.