Royal Bank of Canada Has $1.62 Billion Stake in Barrick Mining Corporation $B

Royal Bank of Canada lifted its stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 10.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,598,520 shares of the gold and copper producer’s stock after buying an additional 3,881,841 shares during the period. Royal Bank of Canada owned approximately 2.36% of Barrick Mining worth $1,615,225,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of B. Caldwell Trust Co boosted its holdings in shares of Barrick Mining by 6,688.3% during the 4th quarter. Caldwell Trust Co now owns 20,365 shares of the gold and copper producer’s stock valued at $887,000 after acquiring an additional 20,065 shares in the last quarter. Gunderson Capital Management Inc. acquired a new position in Barrick Mining in the 4th quarter worth about $8,987,000. Williamson Legacy Group LLC bought a new position in Barrick Mining in the fourth quarter valued at about $1,315,000. Drummond Knight Asset Management Pty Ltd raised its position in Barrick Mining by 14.9% in the fourth quarter. Drummond Knight Asset Management Pty Ltd now owns 1,384,920 shares of the gold and copper producer’s stock valued at $60,313,000 after purchasing an additional 179,920 shares during the last quarter. Finally, Great Diamond Partners LLC acquired a new stake in shares of Barrick Mining during the fourth quarter valued at about $2,393,000. Institutional investors own 90.82% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Canadian Imperial Bank of Commerce reduced their price target on Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a report on Tuesday, April 21st. Royal Bank Of Canada dropped their price objective on shares of Barrick Mining from $51.00 to $49.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Weiss Ratings downgraded shares of Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Wall Street Zen lowered shares of Barrick Mining from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, 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. One investment 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $52.46.

Barrick Mining Trading Down 1.6%

NYSE:B opened at $36.78 on Wednesday. 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 $61.18 billion, a P/E ratio of 10.16, a P/E/G ratio of 0.79 and a beta of 0.48. The firm’s fifty day moving average is $38.74 and its 200-day moving average is $42.59. Barrick Mining Corporation has a 52 week low of $20.94 and a 52 week high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings data on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.18. The firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.75 billion. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The firm’s revenue for the quarter was up 66.7% on a year-over-year basis. Equities analysts expect that Barrick Mining Corporation will post 3.57 earnings per share for the current year.

Barrick Mining Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were paid a dividend of $0.175 per share. 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 currently 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.