AustralianSuper Pty Ltd Acquires Shares of 288,912 Barrick Mining Corporation $B

AustralianSuper Pty Ltd acquired a new stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 288,912 shares of the gold and copper producer’s stock, valued at approximately $12,586,000.

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

Barrick Mining Price Performance

B opened at $40.60 on Friday. The stock has a market cap of $68.02 billion, a P/E ratio of 11.21, a P/E/G ratio of 1.26 and a beta of 0.41. The company has a quick ratio of 2.33, a current ratio of 3.06 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $41.77 and a 200 day simple moving average of $42.98. Barrick Mining Corporation has a 12 month low of $17.41 and a 12 month high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings data on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share 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 business had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.75 billion. The business’s revenue for the quarter was up 66.7% compared to the same quarter last year. On average, research analysts expect that Barrick Mining Corporation will post 3.62 EPS for the current year.

Barrick Mining Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be paid a $0.175 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.70 dividend on an annualized basis and a yield of 1.7%. Barrick Mining’s payout ratio is presently 46.41%.

Analyst Ratings Changes

A number of research firms recently weighed in on B. JPMorgan Chase & Co. began coverage on shares of Barrick Mining in a research note on Thursday, January 29th. They set an “overweight” rating and a $68.00 price target for the company. Canaccord Genuity Group cut their price target on Barrick Mining to $77.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. DZ Bank raised Barrick Mining to a “strong-buy” rating in a research note on Monday, January 19th. Wall Street Zen upgraded Barrick Mining from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 7th. Finally, Scotiabank raised their target price on Barrick Mining from $43.00 to $63.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Barrick Mining currently has an average rating of “Moderate Buy” and an average target price of $54.50.

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.