Legal & General Group Plc Grows Stock Holdings in Barrick Mining Corporation $B

Legal & General Group Plc grew its holdings in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 1.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,387,219 shares of the gold and copper producer’s stock after purchasing an additional 95,479 shares during the period. Legal & General Group Plc owned approximately 0.44% of Barrick Mining worth $322,214,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Westside Investment Management Inc. purchased a new position in shares of Barrick Mining during the fourth quarter valued at approximately $25,000. Financial Consulate Inc. lifted its holdings in shares of Barrick Mining by 1,042.0% during the fourth quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock valued at $25,000 after purchasing an additional 521 shares during the last quarter. Laurel Wealth Advisors LLC purchased a new position in shares of Barrick Mining during the fourth quarter valued at approximately $30,000. Lodestone Wealth Management LLC purchased a new position in Barrick Mining in the 4th quarter worth approximately $35,000. Finally, Nisa Investment Advisors LLC purchased a new position in Barrick Mining in the 4th quarter worth approximately $35,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Mining Trading Up 3.3%

NYSE:B opened at $42.03 on Wednesday. The company has a current ratio of 3.06, a quick ratio of 2.44 and a debt-to-equity ratio of 0.13. Barrick Mining Corporation has a 12 month low of $18.58 and a 12 month high of $54.69. The company has a market cap of $70.42 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 1.10 and a beta of 0.41. The company has a 50 day simple moving average of $41.18 and a two-hundred day simple moving average of $43.47.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.18. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. The business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.75 billion. The company’s revenue for the quarter was up 66.7% on a year-over-year basis. Research analysts forecast that Barrick Mining Corporation will post 3.7 earnings per share for the current year.

Barrick Mining Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be given 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 dividend yield of 1.7%. Barrick Mining’s payout ratio is presently 46.41%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on B. 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 price objective for the company. Wall Street Zen upgraded shares of Barrick Mining from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 7th. Barclays began coverage on shares of Barrick Mining in a report on Thursday, May 21st. They issued an “equal weight” rating and a $41.00 price objective for the company. Canadian Imperial Bank of Commerce decreased their price objective on shares of Barrick Mining to $63.00 and set an “outperformer” rating for the company in a report on Tuesday, April 21st. Finally, UBS Group boosted their price objective on shares of Barrick Mining from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $53.46.

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.