Geode Capital Management LLC Has $802.48 Million Stock Holdings in Barrick Mining Corporation $B

Geode Capital Management LLC increased its position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 7.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 17,733,900 shares of the gold and copper producer’s stock after purchasing an additional 1,154,790 shares during the quarter. Geode Capital Management LLC’s holdings in Barrick Mining were worth $802,477,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Capital International Investors lifted its holdings 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 worth $3,340,709,000 after purchasing an additional 26,921,219 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Barrick Mining by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 70,878,168 shares of the gold and copper producer’s stock worth $2,327,991,000 after purchasing an additional 767,544 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of Barrick Mining by 3.8% in the 3rd quarter. TD Asset Management Inc now owns 19,309,335 shares of the gold and copper producer’s stock worth $634,346,000 after purchasing an additional 715,151 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Barrick Mining by 7.6% in the 3rd quarter. Mackenzie Financial Corp now owns 12,721,334 shares of the gold and copper producer’s stock worth $417,739,000 after purchasing an additional 893,630 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Barrick Mining by 1.6% in the 3rd quarter. Invesco Ltd. now owns 10,479,593 shares of the gold and copper producer’s stock worth $343,416,000 after purchasing an additional 160,984 shares in the last quarter. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on B shares. UBS Group increased their target price on Barrick Mining from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Barclays assumed coverage on shares of Barrick Mining in a report on Thursday, May 21st. They issued an “equal weight” rating and a $41.00 target price on the stock. Canaccord Genuity Group lowered their target price on shares of Barrick Mining to $77.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. Canadian Imperial Bank of Commerce lowered their target price on shares of Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a report on Tuesday, April 21st. Finally, Weiss Ratings lowered shares of Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. One research 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.46.

Barrick Mining Stock Performance

NYSE B opened at $42.63 on Friday. Barrick Mining Corporation has a 52-week low of $18.83 and a 52-week high of $54.69. The company has a 50-day simple moving average of $41.17 and a 200 day simple moving average of $43.58. 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 company has a market capitalization of $71.42 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 1.10 and a beta of 0.41.

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 (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 business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.75 billion. The business’s revenue for the quarter was up 66.7% compared to the same quarter last year. On average, research analysts predict that Barrick Mining Corporation will post 3.78 EPS for the current year.

Barrick Mining Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, May 29th. Barrick Mining’s dividend payout ratio is 46.41%.

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.