Allspring Global Investments Holdings LLC Purchases 569,000 Shares of Barrick Mining Corporation $B

Allspring Global Investments Holdings LLC boosted its position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 56.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,583,059 shares of the gold and copper producer’s stock after acquiring an additional 569,000 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.09% of Barrick Mining worth $53,365,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Vermillion Wealth Management Inc. purchased a new stake in shares of Barrick Mining during the 2nd quarter valued at about $25,000. Crowley Wealth Management Inc. purchased a new position in shares of Barrick Mining in the second quarter worth approximately $26,000. Concord Wealth Partners bought a new stake in Barrick Mining during the second quarter valued at approximately $26,000. Ameriflex Group Inc. purchased a new stake in Barrick Mining during the second quarter valued at approximately $27,000. Finally, Trifecta Capital Advisors LLC bought a new position in Barrick Mining in the second quarter worth approximately $27,000. Institutional investors own 90.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on B. Jefferies Financial Group reiterated a “buy” rating and set a $55.00 target price on shares of Barrick Mining in a research report on Sunday, December 7th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Barrick Mining in a research report on Wednesday, September 24th. BNP Paribas Exane upgraded Barrick Mining from a “neutral” rating to an “outperform” rating and set a $50.00 price objective for the company in a research note on Friday, December 5th. Weiss Ratings restated a “buy (b)” rating on shares of Barrick Mining in a research note on Monday. Finally, Cormark raised shares of Barrick Mining from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 11th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Barrick Mining has a consensus rating of “Buy” and an average price target of $47.17.

Barrick Mining Trading Down 1.6%

Shares of B opened at $43.54 on Friday. The firm has a market cap of $73.31 billion, a P/E ratio of 21.03, a price-to-earnings-growth ratio of 0.44 and a beta of 0.40. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.94 and a quick ratio of 2.33. Barrick Mining Corporation has a 1 year low of $15.31 and a 1 year high of $46.45. The company has a 50 day simple moving average of $39.25 and a two-hundred day simple moving average of $30.79.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its earnings results on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. The firm had revenue of $4.19 billion during the quarter, compared to analyst estimates of $4.20 billion. Barrick Mining had a net margin of 24.53% and a return on equity of 9.48%. Barrick Mining’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.09 earnings per share. On average, equities analysts expect that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were given a dividend of $0.175 per share. The ex-dividend date was Friday, November 28th. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.15. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.6%. Barrick Mining’s dividend payout ratio (DPR) is 33.82%.

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.