SummitTX Capital L.P. Cuts Stock Position in Barrick Mining Corporation $B

SummitTX Capital L.P. lessened its holdings in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 50.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 238,743 shares of the gold and copper producer’s stock after selling 241,202 shares during the period. SummitTX Capital L.P.’s holdings in Barrick Mining were worth $9,738,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. FIL Ltd lifted its position in Barrick Mining by 85.3% during the fourth quarter. FIL Ltd now owns 30,099,422 shares of the gold and copper producer’s stock valued at $1,311,169,000 after purchasing an additional 13,853,587 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of 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 worth $2,413,699,000 after buying an additional 10,287,544 shares during the last quarter. Ameriprise Financial Inc. bought a new stake in shares of Barrick Mining in the 2nd quarter worth about $211,263,000. Canada Pension Plan Investment Board bought a new stake in shares of Barrick Mining in the 2nd quarter worth about $172,230,000. Finally, Mackenzie Financial Corp raised its position in shares of Barrick Mining by 61.9% during the 4th quarter. Mackenzie Financial Corp now owns 20,591,745 shares of the gold and copper producer’s stock valued at $909,104,000 after buying an additional 7,870,411 shares in the last quarter. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Barrick Mining Stock Performance

Barrick Mining stock opened at $37.12 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.06 and a quick ratio of 2.44. The firm has a market capitalization of $61.74 billion, a P/E ratio of 10.25, a price-to-earnings-growth ratio of 0.79 and a beta of 0.48. Barrick Mining Corporation has a 1-year low of $20.94 and a 1-year high of $54.69. The company’s 50-day moving average is $38.86 and its 200 day moving average is $42.74.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.18. The business had revenue of $4.11 billion during 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 business’s revenue for the quarter was up 66.7% compared to the same quarter last year. Research analysts forecast that Barrick Mining Corporation will post 3.56 EPS for the current 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 issued a dividend of $0.175 per share. The ex-dividend date was Friday, May 29th. This represents a $0.70 dividend on an annualized basis and a yield of 1.9%. Barrick Mining’s payout ratio is presently 19.34%.

Barrick Mining News Roundup

Here are the key news stories impacting Barrick Mining this week:

• Positive Sentiment: Gold’s strength and expectations for continued central bank buying are keeping Barrick in the spotlight as investors look for miners that can benefit from higher bullion prices. Experts recommend buying gold and silver! Barrick Mining, Newmont, First Majestic Silver, and Desert Gold in focus
• Positive Sentiment: Analysts and commentators continue to highlight Barrick as a potential beneficiary of a gold breakout, with some suggesting the stock could reflect bullion’s strength if prices stay elevated. Can Barrick Mining (NYSE:B) Reflect Gold’s Strength as Bullion Keeps Firm This Week?
• Positive Sentiment: Barrick announced an exploration program with Midland on the Lewis gold project, adding to the company’s growth pipeline and reinforcing its exploration footprint. Midland, in Partnership with Barrick, Commences an Exploration Program for Gold on the Lewis Project
• Positive Sentiment: Barrick also bought a 10% stake in Kingfisher Metals, a move that signals continued interest in securing optionality on prospective mining assets. Barrick Mining Buys 10% Stake in Kingfisher Metals for C$20.9 Million
• Neutral Sentiment: Broader market commentary says investors are rotating into gold and silver miners, but this is more of a sector call than a Barrick-specific catalyst. Gold price above USD 4,000 and central bank rally: Barrick Mining, Lahontan Gold, Newmont—time to buy now?
• Neutral Sentiment: Barrick said it supports local content rules, a policy stance that may help relationships with host governments but is not an immediate earnings driver. Barrick supports local content rules
• Negative Sentiment: A valuation article argues Barrick may be about 15% overvalued on cash flow concerns, suggesting some investors may worry the stock has outpaced fundamentals. Barrick (B) Stock May Be 15% Overvalued On Cash Flow Concerns
• Negative Sentiment: JPMorgan reportedly lowered its price target on Barrick to $50, which can signal more cautious expectations from analysts. JPMorgan Chase & Co. Lowers Barrick Mining (NYSE:B) Price Target to $50.00

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on B. Barclays lowered their price target on shares of Barrick Mining from $41.00 to $39.00 and set an “equal weight” rating for the company in a report on Wednesday, July 15th. Citigroup reaffirmed a “positive” rating on shares of Barrick Mining in a research note on Wednesday, July 15th. Weiss Ratings cut Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. ATB Cormark Capital Markets downgraded Barrick Mining from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, Canadian Imperial Bank of Commerce decreased their price target on Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.