Franklin Resources Inc. Acquires 981,345 Shares of Barrick Mining Corporation $B

Franklin Resources Inc. lifted its position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 18.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 6,281,522 shares of the gold and copper producer’s stock after purchasing an additional 981,345 shares during the quarter. Franklin Resources Inc.’s holdings in Barrick Mining were worth $273,569,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Bogart Wealth LLC boosted its position in shares of Barrick Mining by 3.5% during the fourth quarter. Bogart Wealth LLC now owns 6,442 shares of the gold and copper producer’s stock worth $281,000 after buying an additional 218 shares during the period. Mmbg Investment Advisors CO. boosted its position in shares of Barrick Mining by 0.6% during the fourth quarter. Mmbg Investment Advisors CO. now owns 43,454 shares of the gold and copper producer’s stock worth $1,892,000 after buying an additional 254 shares during the period. S.A. Mason LLC boosted its position in shares of Barrick Mining by 1.3% during the fourth quarter. S.A. Mason LLC now owns 23,114 shares of the gold and copper producer’s stock worth $1,007,000 after buying an additional 300 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of Barrick Mining by 1.0% during the fourth quarter. Sequoia Financial Advisors LLC now owns 31,212 shares of the gold and copper producer’s stock worth $1,359,000 after buying an additional 302 shares during the period. Finally, Legacy Financial Advisors Inc. boosted its position in shares of Barrick Mining by 3.9% during the fourth quarter. Legacy Financial Advisors Inc. now owns 8,569 shares of the gold and copper producer’s stock worth $373,000 after buying an additional 319 shares during the period. 90.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on B. Canadian Imperial Bank of Commerce reduced their price objective on Barrick Mining to $63.00 and set an “outperformer” rating for the company in a research report on Tuesday, April 21st. UBS Group increased their price target on Barrick Mining from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Weiss Ratings lowered Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Barclays began coverage on Barrick Mining in a research note on Thursday, May 21st. They issued an “equal weight” rating and a $41.00 price objective on the stock. Finally, Canaccord Genuity Group dropped their price objective on Barrick Mining to $77.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.46.

Barrick Mining Price Performance

Barrick Mining stock opened at $39.09 on Wednesday. The stock’s fifty day moving average price is $41.61 and its two-hundred day moving average price is $43.85. Barrick Mining Corporation has a one year low of $19.94 and a one year high of $54.69. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.06 and a quick ratio of 2.44. The firm has a market cap of $65.03 billion, a PE ratio of 10.80, a price-to-earnings-growth ratio of 1.12 and a beta of 0.44.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings data 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 return on equity of 14.81% and a net margin of 32.14%.The firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.75 billion. The business’s revenue for the quarter was up 66.7% on a year-over-year basis. As a group, research analysts expect that Barrick Mining Corporation will post 3.78 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, May 29th. Barrick Mining’s dividend payout ratio (DPR) is 19.34%.

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.