Massachusetts Financial Services Co. MA Raises Stock Holdings in Barrick Mining Corporation $B
by Tristan Rich · The Markets DailyMassachusetts Financial Services Co. MA increased its position in Barrick Mining Corporation (NYSE:B – Free Report) (TSE:ABX) by 436.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,212,758 shares of the gold and copper producer’s stock after purchasing an additional 986,767 shares during the period. Massachusetts Financial Services Co. MA owned 0.07% of Barrick Mining worth $52,816,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BOCHK Asset Management Ltd purchased a new stake in Barrick Mining in the fourth quarter worth $52,000. Nautilus Advisors LLC grew its stake in shares of Barrick Mining by 18.3% in the fourth quarter. Nautilus Advisors LLC now owns 8,211 shares of the gold and copper producer’s stock worth $358,000 after acquiring an additional 1,271 shares during the last quarter. JCIC Asset Management Inc. purchased a new stake in shares of Barrick Mining in the fourth quarter worth $9,180,000. Westbourne Investments Inc. purchased a new stake in shares of Barrick Mining in the fourth quarter worth $490,000. Finally, Financial Consulate Inc. grew its stake in shares of Barrick Mining by 1,042.0% in the fourth quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock worth $25,000 after acquiring an additional 521 shares during the last quarter. 90.82% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
B has been the topic of a number of recent research reports. UBS Group cut their target price on Barrick Mining from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, March 27th. Canaccord Genuity Group cut their target price on Barrick Mining to $77.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. Citigroup increased their target price on Barrick Mining from $38.00 to $48.00 and gave the stock a “neutral” rating in a research note on Monday, February 9th. JPMorgan Chase & Co. initiated coverage on Barrick Mining in a research note on Thursday, January 29th. They issued an “overweight” rating and a $68.00 target price on the stock. Finally, Wall Street Zen raised Barrick Mining from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 7th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.83.
Get Our Latest Research Report on B
Barrick Mining Trading Up 1.9%
Shares of NYSE:B opened at $43.85 on Wednesday. The company has a market cap of $73.47 billion, a P/E ratio of 14.97, a PEG ratio of 1.54 and a beta of 0.50. 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 1 year low of $17.41 and a 1 year high of $54.69. The stock’s fifty day moving average price is $44.28 and its 200-day moving average price is $41.79.
Barrick Mining (NYSE:B – Get Free Report) (TSE:ABX) last announced its quarterly earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.19. The firm had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $5.15 billion. Barrick Mining had a return on equity of 12.10% and a net margin of 29.45%.The firm’s revenue was up 44.6% on a year-over-year basis. Sell-side analysts expect that Barrick Mining Corporation will post 1.47 earnings per share for the current year.
Barrick Mining Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 27th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, February 27th. This is an increase from Barrick Mining’s previous quarterly dividend of $0.18. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.8%. Barrick Mining’s dividend payout ratio is currently 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.