VectorGlobal IAG Inc. Takes Position in Barrick Mining Corporation $B

VectorGlobal IAG Inc. purchased a new stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the 1st quarter, Holdings Channel reports. The fund purchased 263,175 shares of the gold and copper producer’s stock, valued at approximately $10,722,000. Barrick Mining comprises approximately 2.8% of VectorGlobal IAG Inc.’s holdings, making the stock its 12th biggest position.

A number of other hedge funds also recently added to or reduced their stakes in B. Financial Consulate Inc. lifted its position in Barrick Mining by 1,042.0% in the 4th quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock valued at $25,000 after acquiring an additional 521 shares in the last quarter. Westside Investment Management Inc. bought a new stake in shares of Barrick Mining in the 4th quarter worth $25,000. Intesa Sanpaolo Wealth Management bought a new stake in shares of Barrick Mining in the 4th quarter worth $26,000. Ascentis Independent Advisors purchased a new position in shares of Barrick Mining in the first quarter worth $28,000. Finally, JPL Wealth Management LLC purchased a new position in shares of Barrick Mining in the third quarter worth $28,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Mining Trading Down 0.0%

Shares of NYSE:B opened at $36.73 on Monday. The stock has a 50 day moving average of $38.49 and a 200 day moving average of $42.35. The company has a market cap of $60.45 billion, a PE ratio of 10.15, a price-to-earnings-growth ratio of 0.78 and a beta of 0.47. Barrick Mining Corporation has a 12-month low of $20.94 and a 12-month high of $54.69. The company has a current ratio of 3.06, a quick ratio of 2.44 and a debt-to-equity ratio of 0.13.

Barrick Mining (NYSE:B) (TSE:ABX) last released its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $4.75 billion. The business’s revenue was up 66.7% on a year-over-year basis. As a group, equities research analysts expect that Barrick Mining Corporation will post 3.57 EPS for the current year.

Barrick Mining Cuts Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on B shares. 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 research report on Tuesday, July 21st. Barclays decreased their target price on Barrick Mining from $41.00 to $39.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 15th. Scotiabank lowered their target price on shares of Barrick Mining from $63.00 to $57.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. Royal Bank Of Canada dropped their price target on shares of Barrick Mining from $51.00 to $49.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Finally, Wall Street Zen lowered shares of Barrick Mining from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Barrick Mining has a consensus rating of “Moderate Buy” and a consensus price target of $52.46.

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.