Teacher Retirement System of Texas Acquires New Position in Barrick Mining Corporation $B

Teacher Retirement System of Texas acquired a new position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 700,000 shares of the gold and copper producer’s stock, valued at approximately $30,485,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Financial Consulate Inc. boosted its stake in Barrick Mining by 1,042.0% during the 4th quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer’s stock valued at $25,000 after purchasing an additional 521 shares during the period. Westside Investment Management Inc. acquired a new position in Barrick Mining during the 4th quarter valued at about $25,000. Arlington Trust Co LLC acquired a new position in Barrick Mining during the 3rd quarter valued at about $26,000. JPL Wealth Management LLC acquired a new position in Barrick Mining during the 3rd quarter valued at about $28,000. Finally, Pin Oak Investment Advisors Inc. acquired a new position in Barrick Mining during the 3rd quarter valued at about $31,000. 90.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

B has been the subject of a number of analyst reports. Canadian Imperial Bank of Commerce reduced their target price on shares of Barrick Mining to $63.00 and set an “outperformer” rating for the company in a research note on Tuesday. Weiss Ratings reiterated a “buy (b)” rating on shares of Barrick Mining in a research report on Friday, March 27th. Citigroup boosted their price target 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. JPMorgan Chase & Co. assumed coverage on shares of Barrick Mining in a research report on Thursday, January 29th. They set an “overweight” rating and a $68.00 price target on the stock. Finally, ATB Cormark Capital Markets downgraded shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Barrick Mining currently has an average rating of “Moderate Buy” and a consensus price target of $54.17.

Barrick Mining Stock Performance

Shares of B opened at $40.19 on Friday. The firm’s 50 day moving average is $43.67 and its 200-day moving average is $42.08. The stock has a market capitalization of $67.35 billion, a P/E ratio of 13.72, a P/E/G ratio of 1.52 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 12-month low of $17.41 and a 12-month high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings data on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.19. The company 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 quarterly revenue was up 44.6% compared to the same quarter last year. Equities research analysts anticipate that Barrick Mining Corporation will post 3.61 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 27th were paid a $0.42 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $1.68 annualized dividend and a dividend yield of 4.2%. This is an increase from Barrick Mining’s previous quarterly dividend of $0.18. Barrick Mining’s dividend payout ratio is presently 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.