Swiss National Bank Boosts Stock Holdings in Barrick Mining Corporation $B

Swiss National Bank raised its position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 25.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,680,129 shares of the gold and copper producer’s stock after purchasing an additional 1,167,000 shares during the period. Swiss National Bank owned 0.34% of Barrick Mining worth $231,788,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in B. Financial Consulate Inc. increased its holdings in Barrick Mining by 1,042.0% in the 4th quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock worth $25,000 after acquiring an additional 521 shares during the last quarter. Westside Investment Management Inc. purchased a new stake in Barrick Mining during the fourth quarter valued at about $25,000. Intesa Sanpaolo Wealth Management bought a new position in Barrick Mining during the fourth quarter worth about $26,000. Ascentis Independent Advisors bought a new position in Barrick Mining during the first quarter worth about $28,000. Finally, JPL Wealth Management LLC purchased a new position in shares of Barrick Mining in the third quarter worth about $28,000. 90.82% of the stock is currently owned by institutional investors.

Barrick Mining Stock Down 0.0%

Shares of NYSE B opened at $34.93 on Monday. The company has a current ratio of 3.06, a quick ratio of 2.44 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average of $39.63 and a 200-day moving average of $43.00. The firm has a market capitalization of $58.10 billion, a price-to-earnings ratio of 9.65, a PEG ratio of 0.76 and a beta of 0.48. Barrick Mining Corporation has a 12 month low of $20.68 and a 12 month high of $54.69.

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 net margin of 32.14% and a return on equity of 14.81%. Barrick Mining’s revenue was up 66.7% on a year-over-year basis. Sell-side analysts expect that Barrick Mining Corporation will post 3.61 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, May 29th. Barrick Mining’s payout ratio is currently 19.34%.

Analyst Ratings Changes

A number of brokerages recently commented on B. Bank of America dropped their price target on shares of Barrick Mining from $58.00 to $56.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. ATB Cormark Capital Markets downgraded Barrick Mining from a “moderate buy” rating to a “hold” rating in a research 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. Canadian Imperial Bank of Commerce decreased their price objective on Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a research note on Tuesday, April 21st. Finally, UBS Group dropped their price objective on Barrick Mining from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $53.85.

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.