Gibbs Wealth Management Buys 19,020 Shares of Barrick Mining Corporation $B

Gibbs Wealth Management lifted its stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 107.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,799 shares of the gold and copper producer’s stock after buying an additional 19,020 shares during the period. Gibbs Wealth Management’s holdings in Barrick Mining were worth $1,501,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Van ECK Associates Corp lifted its holdings in Barrick Mining by 22.8% during 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 acquiring an additional 10,287,544 shares during the period. FIL Ltd increased its position in shares of Barrick Mining by 85.3% during the 4th quarter. FIL Ltd now owns 30,099,422 shares of the gold and copper producer’s stock valued at $1,311,169,000 after purchasing an additional 13,853,587 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of Barrick Mining by 61.9% during the 4th quarter. Mackenzie Financial Corp now owns 20,591,745 shares of the gold and copper producer’s stock valued at $909,104,000 after purchasing an additional 7,870,411 shares during the last quarter. TD Asset Management Inc raised its stake in shares of Barrick Mining by 5.6% during the 4th quarter. TD Asset Management Inc now owns 20,395,667 shares of the gold and copper producer’s stock worth $889,627,000 after purchasing an additional 1,086,332 shares during the period. Finally, CIBC Asset Management Inc raised its stake in shares of Barrick Mining by 8.8% during the 4th quarter. CIBC Asset Management Inc now owns 19,902,944 shares of the gold and copper producer’s stock worth $869,964,000 after purchasing an additional 1,615,386 shares during the period. Institutional investors own 90.82% of the company’s stock.

Analyst Ratings Changes

B has been the subject of several research reports. ATB Cormark Capital Markets lowered Barrick Mining from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. Royal Bank Of Canada lowered their target price on Barrick Mining from $51.00 to $49.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Weiss Ratings cut Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Barclays decreased their price objective on Barrick Mining from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 15th. Finally, JPMorgan Chase & Co. dropped their price objective on Barrick Mining from $58.00 to $50.00 and set an “overweight” rating on the stock in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $52.46.

Barrick Mining Stock Performance

Barrick Mining stock opened at $37.15 on Friday. Barrick Mining Corporation has a fifty-two week low of $20.94 and a fifty-two week high of $54.69. 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 stock has a market cap of $61.79 billion, a P/E ratio of 10.26, a price-to-earnings-growth ratio of 0.79 and a beta of 0.48. The firm’s fifty day moving average price is $38.93 and its 200-day moving average price is $42.80.

Barrick Mining (NYSE:B) (TSE:ABX) last announced 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 company had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.75 billion. The firm’s revenue for the quarter was up 66.7% compared to the same quarter last year. On average, equities research analysts expect that Barrick Mining Corporation will post 3.61 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The company also recently announced 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 was Friday, May 29th. This represents a $0.70 dividend on an annualized basis and a yield of 1.9%. Barrick Mining’s payout ratio is presently 19.34%.

Barrick Mining News Roundup

Here are the key news stories impacting Barrick Mining this week:

• Positive Sentiment: Gold’s move above $4,000 an ounce and renewed central-bank buying are supporting the broader gold-mining trade, which could lift sentiment toward Barrick Mining and other producers. Gold price above USD 4,000 and central bank rally: Barrick Mining, Lahontan Gold, Newmont—time to buy now?
• Positive Sentiment: Barrick is being highlighted by market commentators as a potential beneficiary of the strong gold backdrop, reinforcing the view that the company’s core business is well positioned if bullion stays high. Man Who Called 2008 Crash Says Now Is the Time to “Invest in Early-Stage Gold Stocks”
• Positive Sentiment: Barrick’s purchase of roughly a 9.9% stake in Kingfisher Metals gives it additional exposure to the HWY 37 project and adds exploration upside through technical collaboration, which investors may view as a growth-oriented move. Barrick Mining Buys 10% Stake in Kingfisher Metals for C$20.9 Million
• Positive Sentiment: Barrick also announced the start of an exploration program with Midland on the Lewis project, signaling continued investment in future resource growth. Midland, in Partnership with Barrick, Commences an Exploration Program for Gold on the Lewis Project
• Neutral Sentiment: News that Barrick supports local content rules is more likely to be viewed as a policy and operating update than a direct earnings catalyst. Barrick supports local content rules
• Neutral Sentiment: JPMorgan lowered its price target on Barrick to $50, which adds a note of caution but does not change the broader positive gold-sector backdrop. JPMorgan Chase & Co. Lowers Barrick Mining (NYSE:B) Price Target to $50.00

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.