Vestcor Inc Takes Position in Barrick Mining Corporation $B

Vestcor Inc bought a new stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 87,500 shares of the gold and copper producer’s stock, valued at approximately $2,867,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. bought a new position in shares of Barrick Mining during the 2nd quarter worth approximately $1,459,633,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Barrick Mining during the second quarter valued at approximately $1,091,122,000. Geode Capital Management LLC purchased a new stake in shares of Barrick Mining during the second quarter valued at approximately $307,855,000. CIBC Asset Management Inc lifted its holdings in Barrick Mining by 316.0% during the third quarter. CIBC Asset Management Inc now owns 18,287,558 shares of the gold and copper producer’s stock worth $601,115,000 after acquiring an additional 13,891,886 shares during the period. Finally, Mackenzie Financial Corp purchased a new position in Barrick Mining in the second quarter worth $246,392,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on B. Wall Street Zen upgraded shares of Barrick Mining from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 7th. Scotiabank raised their price objective on shares of Barrick Mining from $43.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Cormark raised shares of Barrick Mining from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 11th. UBS Group set a $55.00 price objective on Barrick Mining in a report on Friday, February 6th. Finally, Citigroup lifted their target price on shares of Barrick Mining from $38.00 to $48.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.25.

Barrick Mining Price Performance

Shares of 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. The company has a market capitalization of $77.25 billion, a PE ratio of 15.74, a PEG ratio of 1.43 and a beta of 0.41. Barrick Mining Corporation has a 1-year low of $17.00 and a 1-year high of $54.69. The business has a fifty day moving average price of $47.94 and a 200-day moving average price of $39.75.

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

Barrick Mining Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.68 dividend on an annualized basis and a yield of 3.6%. This is a boost from Barrick Mining’s previous quarterly dividend of $0.18. Barrick Mining’s payout ratio is presently 57.34%.

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.