Investment Management Corp of Ontario Has $28.23 Million Stock Holdings in Barrick Mining Corporation $B

Investment Management Corp of Ontario increased its stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 28.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 648,123 shares of the gold and copper producer’s stock after buying an additional 144,942 shares during the quarter. Investment Management Corp of Ontario’s holdings in Barrick Mining were worth $28,226,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in B. Capital International Investors increased its position in Barrick Mining by 35.9% during 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. FIL Ltd boosted its stake in shares of Barrick Mining by 85.3% during the fourth quarter. FIL Ltd now owns 30,099,422 shares of the gold and copper producer’s stock valued at $1,311,169,000 after purchasing an additional 13,853,587 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Barrick Mining by 22.8% during the fourth quarter. Van ECK Associates Corp now owns 55,423,240 shares of the gold and copper producer’s stock valued at $2,413,699,000 after purchasing an additional 10,287,544 shares in the last quarter. Ameriprise Financial Inc. acquired a new stake in shares of Barrick Mining during the second quarter valued at about $211,263,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Barrick Mining during the second quarter valued at about $172,230,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

B has been the topic of a number of recent research reports. UBS Group lifted their price target on Barrick Mining from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Canadian Imperial Bank of Commerce cut their price target on Barrick Mining to $63.00 and set an “outperformer” rating on the stock in a research note on Tuesday, April 21st. 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 shares of 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, ATB Cormark Capital Markets cut shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Barrick Mining currently has an average rating of “Moderate Buy” and a consensus price target of $53.46.

Barrick Mining Stock Performance

Shares of B stock opened at $41.30 on Thursday. The business’s 50 day simple moving average is $41.55 and its 200 day simple moving average is $43.91. Barrick Mining Corporation has a one year low of $20.35 and a one year high of $54.69. The stock has a market capitalization of $68.70 billion, a PE ratio of 11.41, a PEG ratio of 1.22 and a beta of 0.44. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.06 and a quick ratio of 2.44.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings results 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. The firm had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.75 billion. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.Barrick Mining’s revenue was up 66.7% compared to the same quarter last year. As a group, research analysts forecast that Barrick Mining Corporation will post 3.78 earnings per share for the current year.

Barrick Mining Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, May 29th. Barrick Mining’s dividend payout ratio is presently 19.34%.

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.