Sumitomo Mitsui Trust Group Inc. Has $1.83 Million Stake in Barrick Mining Corporation (NYSE:B)

Sumitomo Mitsui Trust Group Inc. decreased its stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 16.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 94,324 shares of the gold and copper producer’s stock after selling 18,454 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Barrick Mining were worth $1,834,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in Barrick Mining by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,073,717 shares of the gold and copper producer’s stock valued at $78,637,000 after buying an additional 128,203 shares during the period. Steward Partners Investment Advisory LLC raised its position in shares of Barrick Mining by 66.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 60,620 shares of the gold and copper producer’s stock worth $940,000 after purchasing an additional 24,176 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Barrick Mining by 14.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 73,636 shares of the gold and copper producer’s stock worth $1,141,000 after purchasing an additional 9,149 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Barrick Mining by 25.9% during the first quarter. Janney Montgomery Scott LLC now owns 291,281 shares of the gold and copper producer’s stock worth $5,663,000 after purchasing an additional 59,906 shares during the period. Finally, Sequoia Financial Advisors LLC raised its position in shares of Barrick Mining by 24.4% during the first quarter. Sequoia Financial Advisors LLC now owns 20,795 shares of the gold and copper producer’s stock worth $404,000 after purchasing an additional 4,082 shares during the period. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barrick Mining Stock Up 1.1%

B stock opened at $21.45 on Friday. The company has a quick ratio of 2.16, a current ratio of 2.87 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average price of $19.74 and a two-hundred day moving average price of $18.38. The company has a market cap of $36.76 billion, a price-to-earnings ratio of 16.12, a P/E/G ratio of 0.34 and a beta of 0.28. Barrick Mining Corporation has a twelve month low of $17.41 and a twelve month high of $47.50.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 EPS for the quarter, topping the consensus estimate of $0.29 by $0.06. Barrick Mining had a return on equity of 7.51% and a net margin of 17.46%. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the previous year, the company posted $0.19 EPS. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. Analysts anticipate that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, May 30th. This represents a $0.40 annualized dividend and a dividend yield of 1.87%. Barrick Mining’s dividend payout ratio is currently 30.08%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Scotiabank raised their price target on Barrick Mining from $20.00 to $22.00 and gave the stock a “sector perform” rating in a research report on Monday, April 14th. Stifel Canada raised Barrick Mining to a “strong-buy” rating in a research report on Wednesday, March 19th. Citigroup dropped their price target on Barrick Mining from $21.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, March 31st. National Bank Financial raised Barrick Mining to a “hold” rating in a research report on Friday, March 21st. Finally, Raymond James Financial lifted their target price on Barrick Mining from $23.00 to $23.50 and gave the company an “outperform” rating in a research report on Monday, March 31st. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.05.

Barrick Mining Company Profile

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.
 
In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.