Purpose Unlimited Inc. Invests $1.99 Million in Barrick Mining Corporation $B

Purpose Unlimited Inc. bought a new stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 45,649 shares of the gold and copper producer’s stock, valued at approximately $1,992,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Rockefeller Capital Management L.P. lifted its position in Barrick Mining by 8.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 540,000 shares of the gold and copper producer’s stock valued at $23,517,000 after purchasing an additional 43,757 shares during the last quarter. Fund Advisors of America Inc FL bought a new stake in shares of Barrick Mining in the 4th quarter worth about $251,000. World Investment Advisors raised its position in shares of Barrick Mining by 7.2% during the 4th quarter. World Investment Advisors now owns 11,614 shares of the gold and copper producer’s stock valued at $506,000 after buying an additional 782 shares in the last quarter. Larry Mathis Financial Planning LLC purchased a new stake in shares of Barrick Mining during the 4th quarter valued at about $393,000. Finally, Advisortrust Partners LLC bought a new position in shares of Barrick Mining in the 4th quarter valued at about $443,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Mining Stock Performance

B stock opened at $40.32 on Friday. Barrick Mining Corporation has a one year low of $20.35 and a one year high of $54.69. The firm has a market cap of $67.07 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 1.15 and a beta of 0.44. 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 50-day simple moving average of $41.48 and a two-hundred day simple moving average of $43.88.

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, topping analysts’ consensus estimates of $0.80 by $0.18. The firm 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 business’s revenue was up 66.7% on a year-over-year basis. On average, equities analysts forecast that Barrick Mining Corporation will post 3.78 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were issued a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, May 29th. Barrick Mining’s payout ratio is currently 19.34%.

Analyst Upgrades and Downgrades

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

Barrick Mining 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.