Barrick Mining Corporation $B Shares Bought by Summit Securities Group LLC

Summit Securities Group LLC grew its position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 203.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 101,400 shares of the gold and copper producer’s stock after purchasing an additional 68,000 shares during the quarter. Barrick Mining comprises approximately 0.5% of Summit Securities Group LLC’s investment portfolio, making the stock its 11th biggest holding. Summit Securities Group LLC’s holdings in Barrick Mining were worth $4,136,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. CW Advisors LLC purchased a new position in Barrick Mining during the 2nd quarter worth $283,000. EverSource Wealth Advisors LLC purchased a new stake in Barrick Mining in the second quarter valued at about $53,000. First Trust Advisors LP acquired a new stake in Barrick Mining in the second quarter worth about $857,000. Baird Financial Group Inc. acquired a new stake in Barrick Mining in the second quarter worth about $2,569,000. Finally, Cresset Asset Management LLC acquired a new stake in Barrick Mining in the second quarter worth about $543,000. 90.82% of the stock is owned by institutional investors and hedge funds.

More Barrick Mining News

Here are the key news stories impacting Barrick Mining this week:

• Positive Sentiment: Bank of America lowered its price target on Barrick Mining to $56 from $58 but kept a Buy rating, implying significant upside from current levels and reinforcing a constructive long-term view. Article: Barrick Mining price target lowered by Bank of America
• Positive Sentiment: Several recent articles highlight Barrick’s gold-and-copper strategy, which may be helping investors view the company as a leveraged play on precious metals and industrial metals demand. Article: Why Does Barrick Mining Focus on Gold and Copper?
• Neutral Sentiment: Commentary about Barrick continuing to bet on Mali adds geopolitical and operational context, but it does not appear to be a major immediate catalyst for the shares. Article: Barrick Mining and B2Gold continue to bet on Mali
• Neutral Sentiment: Articles about Barrick gaining S&P 500 attention and being “fully priced” versus a bargain are mostly valuation and market-positioning pieces, suggesting broader investor interest rather than a clear new fundamental driver. Article: Is Barrick Mining Fully Priced, Or Still A Bargain?
• Negative Sentiment: Short-term sentiment was pressured earlier by weaker gold prices, which weighed on the precious-metals sector and helped explain some recent weakness in Barrick shares. Article: Barrick Mining Shares Weaken as Gold Prices Extend Decline

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Weiss Ratings downgraded shares of Barrick Mining from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Royal Bank Of Canada lowered their target price on shares of Barrick Mining from $51.00 to $49.00 and set an “outperform” rating for the company in a research note on Thursday. Bank of America dropped their target price on shares of Barrick Mining from $58.00 to $56.00 and set a “buy” rating on the stock in a research report on Thursday. Barclays initiated coverage on shares of Barrick Mining in a research report on Thursday, May 21st. They set an “equal weight” rating and a $41.00 target price on the stock. Finally, Canadian Imperial Bank of Commerce decreased their price target on shares of Barrick Mining to $63.00 and set an “outperformer” rating for the company in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $54.46.

Barrick Mining Stock Up 3.1%

Barrick Mining stock opened at $36.84 on Friday. The business’s 50-day simple moving average is $40.20 and its two-hundred day simple moving average is $43.41. 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 cap of $61.28 billion, a PE ratio of 10.18, a PEG ratio of 1.02 and a beta of 0.48. Barrick Mining Corporation has a fifty-two week low of $20.52 and a fifty-two week high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings data on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.18. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The firm had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.75 billion. Barrick Mining’s revenue was up 66.7% on a year-over-year basis. Equities analysts anticipate that Barrick Mining Corporation will post 3.76 EPS for the current year.

Barrick Mining Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 1.9%. The ex-dividend date was Friday, May 29th. Barrick Mining’s dividend payout ratio is 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.