Mackenzie Financial Corp Buys 893,630 Shares of Barrick Mining Corporation $B

Mackenzie Financial Corp raised its position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 7.6% in the third quarter, HoldingsChannel.com reports. The firm owned 12,721,334 shares of the gold and copper producer’s stock after purchasing an additional 893,630 shares during the quarter. Mackenzie Financial Corp’s holdings in Barrick Mining were worth $417,739,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in B. Bank of New York Mellon Corp bought a new stake in shares of Barrick Mining in the 2nd quarter valued at $33,811,000. Savant Capital LLC acquired a new stake in shares of Barrick Mining during the second quarter worth $490,000. Vestmark Advisory Solutions Inc. bought a new position in Barrick Mining during the second quarter worth $256,000. Wedbush Securities Inc. bought a new position in Barrick Mining during the second quarter worth $267,000. Finally, Penserra Capital Management LLC acquired a new position in Barrick Mining in the second quarter valued at $68,000. Institutional investors own 90.82% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on B shares. UBS Group set a $55.00 price target on shares of Barrick Mining in a research report on Friday, February 6th. Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $71.00 price objective on shares of Barrick Mining in a research report on Wednesday, February 4th. 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. Jefferies Financial Group restated a “buy” rating and set a $55.00 target price on shares of Barrick Mining in a research report on Sunday, December 7th. Finally, Scotiabank raised their target price on Barrick Mining from $43.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Barrick Mining presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.25.

Barrick Mining Trading Up 0.7%

NYSE:B opened at $46.11 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 2.33. Barrick Mining Corporation has a one year low of $17.00 and a one year high of $54.69. The company has a market cap of $77.25 billion, a PE ratio of 15.74, a PEG ratio of 1.43 and a beta of 0.41. The firm has a 50-day moving average of $47.94 and a 200-day moving average of $39.75.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.19. The business had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $5.15 billion. Barrick Mining had a net margin of 29.45% and a return on equity of 12.10%. The company’s revenue was up 44.6% on a year-over-year basis. As a group, equities research analysts expect that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.6%. This is a boost from Barrick Mining’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Friday, February 27th. Barrick Mining’s dividend payout ratio (DPR) is currently 57.34%.

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.