Patriot Financial Group Insurance Agency LLC Boosts Stake in Barrick Mining Corporation $B

Patriot Financial Group Insurance Agency LLC lifted its position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 88.0% in the 1st quarter, Holdings Channel reports. The fund owned 102,268 shares of the gold and copper producer’s stock after acquiring an additional 47,859 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Barrick Mining were worth $4,172,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Capital International Investors lifted its stake in shares of Barrick Mining by 35.9% in the 3rd quarter. Capital International Investors now owns 101,846,588 shares of the gold and copper producer’s stock valued at $3,340,709,000 after purchasing an additional 26,921,219 shares during the period. FIL Ltd grew its stake in Barrick Mining by 85.3% in the fourth quarter. FIL Ltd now owns 30,099,422 shares of the gold and copper producer’s stock worth $1,311,169,000 after purchasing an additional 13,853,587 shares during the period. Van ECK Associates Corp grew its stake in Barrick Mining by 22.8% in the fourth quarter. Van ECK Associates Corp now owns 55,423,240 shares of the gold and copper producer’s stock worth $2,413,699,000 after purchasing an additional 10,287,544 shares during the period. Ameriprise Financial Inc. bought a new position in Barrick Mining in the second quarter worth $211,263,000. Finally, Canada Pension Plan Investment Board bought a new position in Barrick Mining in the second quarter worth $172,230,000. Institutional investors own 90.82% of the company’s stock.

Wall Street Analyst Weigh In

B has been the topic of a number of research reports. UBS Group boosted their target price on shares of Barrick Mining from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Barclays started coverage on shares of Barrick Mining in a research report on Thursday, May 21st. They issued an “equal weight” rating and a $41.00 target price on the stock. Canadian Imperial Bank of Commerce lowered their price target 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, Weiss Ratings lowered shares of Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.46.

Barrick Mining Stock Up 0.0%

NYSE:B opened at $37.31 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.44 and a current ratio of 3.06. The firm has a market cap of $62.06 billion, a P/E ratio of 10.31, a P/E/G ratio of 1.06 and a beta of 0.43. Barrick Mining Corporation has a fifty-two week low of $20.35 and a fifty-two week high of $54.69. The firm has a 50-day simple moving average of $40.93 and a two-hundred day simple moving average of $43.78.

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 (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.18. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. The firm had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.75 billion. The business’s quarterly revenue was up 66.7% on a year-over-year basis. Analysts predict that Barrick Mining Corporation will post 3.78 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were given a $0.175 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.70 annualized dividend and a yield of 1.9%. Barrick Mining’s dividend payout ratio is 19.34%.

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.