CIBC Asset Management Inc Grows Position in Barrick Mining Corporation $B

CIBC Asset Management Inc grew its position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 316.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,287,558 shares of the gold and copper producer’s stock after acquiring an additional 13,891,886 shares during the quarter. Barrick Mining accounts for 1.7% of CIBC Asset Management Inc’s portfolio, making the stock its 16th biggest holding. CIBC Asset Management Inc owned approximately 1.08% of Barrick Mining worth $601,115,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Arlington Trust Co LLC bought a new stake in shares of Barrick Mining in the 3rd quarter worth about $26,000. Investors Research Corp purchased a new position in Barrick Mining in the third quarter worth about $36,000. Vermillion Wealth Management Inc. bought a new stake in Barrick Mining during the second quarter worth approximately $25,000. Concord Wealth Partners bought a new stake in Barrick Mining during the second quarter worth approximately $26,000. Finally, Grove Bank & Trust purchased a new stake in Barrick Mining during the third quarter valued at approximately $41,000. 90.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. TD Cowen reiterated a “buy” rating on shares of Barrick Mining in a report on Wednesday, November 26th. Scotiabank upgraded Barrick Mining from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $27.50 to $43.00 in a research report on Thursday, October 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Barrick Mining in a research report on Monday, December 29th. Bank of America raised shares of Barrick Mining from a “neutral” rating to a “buy” rating and increased their target price for the company from $38.00 to $48.00 in a research note on Monday, November 24th. Finally, Raymond James Financial raised their target price on shares of Barrick Mining from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Tuesday, November 25th. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Barrick Mining currently has a consensus rating of “Buy” and a consensus price target of $46.91.

Barrick Mining Stock Performance

B stock opened at $51.04 on Friday. Barrick Mining Corporation has a twelve month low of $15.70 and a twelve month high of $51.09. The firm has a market cap of $85.50 billion, a price-to-earnings ratio of 24.65, a PEG ratio of 0.43 and a beta of 0.41. The business’s fifty day simple moving average is $43.98 and its two-hundred day simple moving average is $33.91. The company has a quick ratio of 2.33, a current ratio of 2.94 and a debt-to-equity ratio of 0.14.

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

Barrick Mining Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were paid a $0.175 dividend. The ex-dividend date was Friday, November 28th. This represents a $0.70 dividend on an annualized basis and a yield of 1.4%. This is an increase from Barrick Mining’s previous quarterly dividend of $0.15. Barrick Mining’s payout ratio is currently 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.