McAlvany Wealth Management LLC Takes $3.81 Million Position in Barrick Mining Corporation $B

McAlvany Wealth Management LLC acquired a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 87,360 shares of the gold and copper producer’s stock, valued at approximately $3,805,000. Barrick Mining comprises about 2.9% of McAlvany Wealth Management LLC’s portfolio, making the stock its 10th largest holding.

A number of other institutional investors have also added to or reduced their stakes in B. Capital International Investors raised its position in Barrick Mining by 35.9% during the third quarter. Capital International Investors now owns 101,846,588 shares of the gold and copper producer’s stock valued at $3,340,709,000 after purchasing an additional 26,921,219 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Barrick Mining by 22.8% during the 4th 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 during the last quarter. FIL Ltd raised its holdings in shares of Barrick Mining by 85.3% during the 4th quarter. FIL Ltd now owns 30,099,422 shares of the gold and copper producer’s stock valued at $1,311,169,000 after buying an additional 13,853,587 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of Barrick Mining by 61.9% during the 4th quarter. Mackenzie Financial Corp now owns 20,591,745 shares of the gold and copper producer’s stock valued at $909,104,000 after buying an additional 7,870,411 shares in the last quarter. Finally, TD Asset Management Inc lifted its position in Barrick Mining by 5.6% in the 4th quarter. TD Asset Management Inc now owns 20,395,667 shares of the gold and copper producer’s stock worth $889,627,000 after buying an additional 1,086,332 shares during the last quarter. Institutional investors own 90.82% of the company’s stock.

Barrick Mining Trading Down 0.0%

Shares of B stock opened at $40.32 on Friday. The stock has a market capitalization of $67.07 billion, a PE ratio of 11.14, a P/E/G ratio of 1.15 and a beta of 0.44. Barrick Mining Corporation has a 1-year low of $20.35 and a 1-year high of $54.69. The business has a 50-day moving average of $41.48 and a 200 day moving average of $43.88. 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 issued its earnings results on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, topping the consensus estimate of $0.80 by $0.18. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. The company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.75 billion. Barrick Mining’s revenue was up 66.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Barrick Mining Corporation will post 3.78 earnings per share for the current year.

Barrick Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were issued a $0.175 dividend. The ex-dividend date was Friday, May 29th. This represents a $0.70 annualized dividend and a yield of 1.7%. Barrick Mining’s dividend payout ratio (DPR) is 19.34%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. ATB Cormark Capital Markets lowered Barrick Mining from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Barclays initiated coverage on shares of Barrick Mining in a research note on Thursday, May 21st. They set an “equal weight” rating and a $41.00 price target on the stock. Weiss Ratings lowered shares of Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Canadian Imperial Bank of Commerce cut their price objective on shares of Barrick Mining to $63.00 and set an “outperformer” rating for the company in a research note on Tuesday, April 21st. Finally, UBS Group increased their target price on shares of Barrick Mining from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. One investment 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.46.

Barrick Mining 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.