Grantham Mayo Van Otterloo & Co. LLC Buys Shares of 381,850 Barrick Mining Corporation $B

Grantham Mayo Van Otterloo & Co. LLC purchased a new stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 381,850 shares of the gold and copper producer’s stock, valued at approximately $12,513,000.

A number of other institutional investors have also modified their holdings of B. Vanguard Group Inc. acquired a new stake in Barrick Mining in the second quarter valued at approximately $1,459,633,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Barrick Mining during the second quarter worth $696,000. Philadelphia Trust Co. purchased a new stake in shares of Barrick Mining during the 2nd quarter valued at $1,412,000. CIBC Asset Management Inc lifted its holdings in shares of Barrick Mining by 316.0% during the 3rd quarter. CIBC Asset Management Inc now owns 18,287,558 shares of the gold and copper producer’s stock valued at $601,115,000 after purchasing an additional 13,891,886 shares during the last quarter. Finally, Cadence Wealth Management LLC acquired a new stake in shares of Barrick Mining in the 2nd quarter worth $1,112,000. 90.82% of the stock is currently owned by institutional investors.

Barrick Mining Stock Performance

NYSE B opened at $45.40 on Monday. The stock has a market capitalization of $76.06 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 1.42 and a beta of 0.41. The stock has a 50-day moving average of $47.86 and a 200 day moving average of $39.47. The company has a current ratio of 2.92, a quick ratio of 2.33 and a debt-to-equity ratio of 0.13. Barrick Mining Corporation has a twelve month low of $17.00 and a twelve month high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings data on Thursday, February 5th. The gold and copper producer reported $1.04 EPS for the quarter, beating the consensus estimate of $0.85 by $0.19. The company had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.15 billion. Barrick Mining had a return on equity of 12.10% and a net margin of 29.45%.Barrick Mining’s revenue was up 44.6% on a year-over-year basis. Sell-side analysts anticipate that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.68 dividend on an annualized basis and a yield of 3.7%. This is an increase from Barrick Mining’s previous quarterly dividend of $0.18. Barrick Mining’s dividend payout ratio is 57.34%.

Analyst Upgrades and Downgrades

B has been the subject of a number of research analyst reports. Scotiabank increased their price target on Barrick Mining from $43.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Weiss Ratings restated a “buy (b)” rating on shares of Barrick Mining in a report on Monday, December 29th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and issued a $71.00 price objective on shares of Barrick Mining in a research report on Wednesday, February 4th. Zacks Research cut shares of Barrick Mining from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 13th. Finally, DZ Bank raised shares of Barrick Mining to a “strong-buy” rating in a research report on Monday, January 19th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.25.

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.