Daiwa Securities Group Inc. Makes New Investment in Barrick Mining Corporation $B

Daiwa Securities Group Inc. acquired a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 4th quarter, Holdings Channel.com reports. The fund acquired 70,500 shares of the gold and copper producer’s stock, valued at approximately $3,070,000.

Other large investors have also recently added to or reduced their stakes in the company. Quadrature Capital Ltd increased its position in Barrick Mining by 113.2% in the 3rd quarter. Quadrature Capital Ltd now owns 3,984,800 shares of the gold and copper producer’s stock valued at $130,764,000 after acquiring an additional 2,115,800 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new stake in Barrick Mining in the 3rd quarter valued at about $1,889,000. WINTON GROUP Ltd acquired a new stake in Barrick Mining in the 3rd quarter valued at about $12,739,000. Picton Mahoney Asset Management increased its position in Barrick Mining by 1,673.9% in the 3rd quarter. Picton Mahoney Asset Management now owns 1,577,359 shares of the gold and copper producer’s stock valued at $51,797,000 after acquiring an additional 1,488,438 shares in the last quarter. Finally, Schroder Investment Management Group acquired a new stake in Barrick Mining in the 3rd quarter valued at about $111,426,000. 90.82% of the stock is owned by institutional investors.

Barrick Mining Stock Down 0.9%

Shares of NYSE B opened at $39.09 on Wednesday. The stock has a market cap of $65.03 billion, a P/E ratio of 10.80, a P/E/G ratio of 1.12 and a beta of 0.44. The firm has a 50 day moving average price of $41.61 and a 200 day moving average price of $43.85. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.44 and a current ratio of 3.06. Barrick Mining Corporation has a 52-week low of $19.94 and a 52-week high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings data on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.18. The firm had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.75 billion. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. The business’s quarterly revenue was up 66.7% on a year-over-year basis. Analysts expect that Barrick Mining Corporation will post 3.78 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 1.8%. Barrick Mining’s payout ratio is presently 19.34%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Barclays assumed coverage on shares of Barrick Mining in a research report on Thursday, May 21st. They issued an “equal weight” rating and a $41.00 price objective for the company. Weiss Ratings cut shares of Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Canadian Imperial Bank of Commerce lowered their price objective on shares of Barrick Mining to $63.00 and set an “outperformer” rating for the company in a research report on Tuesday, April 21st. ATB Cormark Capital Markets cut shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, UBS Group raised their price objective on shares of Barrick Mining from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Barrick Mining currently has a consensus rating of “Moderate Buy” and an average target price of $53.46.

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.