Gemsstock Ltd. Acquires 90,850 Shares of Barrick Mining Corporation $B

Gemsstock Ltd. raised its holdings in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 8.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,157,850 shares of the gold and copper producer’s stock after buying an additional 90,850 shares during the quarter. Barrick Mining accounts for 7.3% of Gemsstock Ltd.’s investment portfolio, making the stock its 4th largest holding. Gemsstock Ltd.’s holdings in Barrick Mining were worth $50,424,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in B. CW Advisors LLC acquired a new position in Barrick Mining in the second quarter valued at approximately $283,000. EverSource Wealth Advisors LLC acquired a new position in Barrick Mining in the second quarter valued at approximately $53,000. First Trust Advisors LP acquired a new position in Barrick Mining in the second quarter valued at approximately $857,000. Baird Financial Group Inc. acquired a new position in Barrick Mining in the second quarter valued at approximately $2,569,000. Finally, Cresset Asset Management LLC acquired a new position in Barrick Mining in the second quarter valued at approximately $543,000. 90.82% of the stock is owned by institutional investors and hedge funds.

Barrick Mining Stock Up 2.9%

Shares of NYSE:B opened at $40.22 on Friday. The business’s 50 day simple moving average is $41.51 and its two-hundred day simple moving average is $43.85. The firm has a market cap of $66.89 billion, a P/E ratio of 11.11, a PEG ratio of 1.11 and a beta of 0.44. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.44 and a current ratio of 3.06. Barrick Mining Corporation has a 52-week low of $20.35 and a 52-week high of $54.69.

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

Barrick Mining Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, May 29th. Barrick Mining’s dividend payout ratio (DPR) is currently 19.34%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on B shares. Canaccord Genuity Group cut their price target on Barrick Mining to $77.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. Canadian Imperial Bank of Commerce cut their price target on Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a report on Tuesday, April 21st. ATB Cormark Capital Markets lowered Barrick Mining from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. Weiss Ratings lowered Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Finally, Barclays started coverage on Barrick Mining in a report on Thursday, May 21st. They issued an “equal weight” rating and a $41.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.46.

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.