Northwestern Mutual Wealth Management Co. Raises Stake in Barrick Mining Corporation $B

Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 4,832.3% during the 4th quarter, HoldingsChannel reports. The firm owned 2,388,830 shares of the gold and copper producer’s stock after purchasing an additional 2,340,398 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Barrick Mining were worth $97,088,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of B. Capital International Investors grew its position in Barrick Mining by 35.9% during the 3rd quarter. Capital International Investors now owns 101,846,588 shares of the gold and copper producer’s stock worth $3,340,709,000 after purchasing an additional 26,921,219 shares during the last quarter. CIBC Asset Management Inc grew its position in 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 worth $601,115,000 after purchasing an additional 13,891,886 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in Barrick Mining during the 2nd quarter worth $211,263,000. Canada Pension Plan Investment Board purchased a new position in Barrick Mining during the 2nd quarter worth $172,230,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Barrick Mining by 664.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,013,464 shares of the gold and copper producer’s stock worth $295,977,000 after purchasing an additional 7,833,887 shares during the last quarter. 90.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Weiss Ratings downgraded shares of Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. began coverage on shares of Barrick Mining in a report on Thursday, January 29th. They issued an “overweight” rating and a $68.00 target price on the stock. Canaccord Genuity Group lowered their target price on shares of Barrick Mining to $77.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. Wall Street Zen raised shares of Barrick Mining from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 7th. Finally, Canadian Imperial Bank of Commerce lowered their target price on shares of Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.50.

Barrick Mining Stock Down 5.9%

Shares of NYSE:B opened at $40.60 on Friday. The company has a market cap of $68.02 billion, a price-to-earnings ratio of 11.21, a PEG ratio of 1.19 and a beta of 0.41. The firm’s 50-day simple moving average is $41.77 and its 200-day simple moving average is $42.98. The company has a quick ratio of 2.33, a current ratio of 3.06 and a debt-to-equity ratio of 0.13. Barrick Mining Corporation has a fifty-two week low of $17.41 and a fifty-two week high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its earnings results 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. The business had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.75 billion. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. The company’s revenue was up 66.7% on a year-over-year basis. As a group, equities research analysts predict that Barrick Mining Corporation will post 3.67 earnings per share for the current year.

Barrick Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be issued a dividend of $0.175 per share. 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 currently 46.41%.

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.