The Manufacturers Life Insurance Company Has $612.07 Million Stake in Barrick Mining Corporation $B

The Manufacturers Life Insurance Company grew its holdings in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 1.2% in the 1st quarter, Holdings Channel reports. The fund owned 14,992,792 shares of the gold and copper producer’s stock after purchasing an additional 175,342 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Barrick Mining were worth $612,067,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of B. Financial Consulate Inc. grew its position in shares of Barrick Mining by 1,042.0% in 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 stake in Barrick Mining during the 4th quarter worth approximately $25,000. Intesa Sanpaolo Wealth Management acquired a new stake in Barrick Mining during the 4th quarter worth approximately $26,000. JPL Wealth Management LLC bought a new position in Barrick Mining in the third quarter valued at approximately $28,000. Finally, Ascentis Independent Advisors bought a new position in Barrick Mining in the first quarter valued at approximately $28,000. Institutional investors own 90.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Bank of America lowered their price objective on shares of Barrick Mining from $58.00 to $56.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Scotiabank cut their price objective on shares of Barrick Mining from $63.00 to $57.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, July 14th. Barclays reduced their target price on shares of Barrick Mining from $41.00 to $39.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 15th. UBS Group lowered their target price on Barrick Mining from $54.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Finally, JPMorgan Chase & Co. dropped their price target on Barrick Mining from $58.00 to $50.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $52.46.

Barrick Mining Price Performance

Shares of B opened at $37.34 on Tuesday. The company has a quick ratio of 2.44, a current ratio of 3.06 and a debt-to-equity ratio of 0.13. Barrick Mining Corporation has a twelve month low of $20.94 and a twelve month high of $54.69. The stock has a market capitalization of $62.10 billion, a P/E ratio of 10.31, a P/E/G ratio of 0.79 and a beta of 0.48. The company has a 50 day moving average of $38.79 and a 200-day moving average of $42.66.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings data on Monday, May 11th. The gold and copper producer reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.18. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.75 billion. The business’s quarterly revenue was up 66.7% on a year-over-year basis. As a group, equities research analysts forecast that Barrick Mining Corporation will post 3.56 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were given a $0.175 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.9%. Barrick Mining’s payout ratio is currently 19.34%.

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.