Panagora Asset Management Inc. Purchases 595,118 Shares of Barrick Mining Corporation $B

Panagora Asset Management Inc. boosted its position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 362.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 759,333 shares of the gold and copper producer’s stock after acquiring an additional 595,118 shares during the period. Panagora Asset Management Inc.’s holdings in Barrick Mining were worth $33,069,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Capital International Investors raised its holdings in Barrick Mining by 35.9% in the third quarter. Capital International Investors now owns 101,846,588 shares of the gold and copper producer’s stock worth $3,340,709,000 after buying an additional 26,921,219 shares during the last quarter. Van ECK Associates Corp grew its position in Barrick Mining by 22.8% during the fourth 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 buying an additional 10,287,544 shares during the period. Ameriprise Financial Inc. bought a new stake in Barrick Mining during the second quarter valued at approximately $211,263,000. Canada Pension Plan Investment Board bought a new stake in Barrick Mining during the second quarter valued at approximately $172,230,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Barrick Mining by 664.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,013,464 shares of the gold and copper producer’s stock worth $295,977,000 after purchasing an additional 7,833,887 shares during the period. Institutional investors own 90.82% of the company’s stock.

Barrick Mining Price Performance

B stock opened at $41.85 on Tuesday. Barrick Mining Corporation has a one year low of $20.35 and a one year high of $54.69. The company’s fifty day moving average price is $41.52 and its 200-day moving average price is $43.90. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.44 and a current ratio of 3.06. The company has a market capitalization of $69.61 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of 1.14 and a beta of 0.43.

Barrick Mining (NYSE:B) (TSE:ABX) last released 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 firm had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.75 billion. The company’s revenue for the quarter was up 66.7% compared to the same quarter last year. On average, equities analysts anticipate that Barrick Mining Corporation will post 3.78 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. Stockholders of record on Friday, May 29th were issued a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, May 29th. Barrick Mining’s payout ratio is 19.34%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Canaccord Genuity Group dropped their price target on shares of Barrick Mining to $77.00 and set a “buy” rating for the company in a research report on Wednesday, February 18th. Barclays assumed coverage on shares of Barrick Mining in a research report on Thursday, May 21st. They issued an “equal weight” rating and a $41.00 price target for the company. ATB Cormark Capital Markets lowered shares of Barrick Mining from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 7th. UBS Group upped their price target on shares of Barrick Mining from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, Canadian Imperial Bank of Commerce dropped their price target on shares of Barrick Mining to $63.00 and set an “outperformer” rating for the company in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average 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.