Cadence Wealth Management LLC Decreases Holdings in Barrick Mining Corporation $B

Cadence Wealth Management LLC reduced its position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 29.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,551 shares of the gold and copper producer’s stock after selling 15,841 shares during the period. Barrick Mining makes up about 0.6% of Cadence Wealth Management LLC’s investment portfolio, making the stock its 16th biggest position. Cadence Wealth Management LLC’s holdings in Barrick Mining were worth $1,231,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of B. Ameritas Advisory Services LLC bought a new position in Barrick Mining in the third quarter valued at about $150,000. Indie Asset Partners LLC purchased a new stake in shares of Barrick Mining during the 3rd quarter valued at about $246,000. Metis Global Partners LLC increased its position in shares of Barrick Mining by 13.0% during the 3rd quarter. Metis Global Partners LLC now owns 199,263 shares of the gold and copper producer’s stock valued at $6,545,000 after purchasing an additional 22,902 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Barrick Mining by 9,185.0% in the 3rd quarter. Assetmark Inc. now owns 9,285 shares of the gold and copper producer’s stock worth $304,000 after purchasing an additional 9,185 shares during the period. Finally, Public Sector Pension Investment Board boosted its holdings in shares of Barrick Mining by 76.4% in the third quarter. Public Sector Pension Investment Board now owns 294,175 shares of the gold and copper producer’s stock worth $9,664,000 after buying an additional 127,400 shares during the last quarter. Institutional investors own 90.82% of the company’s stock.

Barrick Mining Stock Performance

Shares of NYSE B opened at $47.99 on Friday. The stock has a market cap of $80.40 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 0.37 and a beta of 0.40. Barrick Mining Corporation has a 1 year low of $17.00 and a 1 year high of $54.69. The firm has a fifty day moving average price of $46.50 and a 200-day moving average price of $36.61. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 2.33.

Barrick Mining (NYSE:B) (TSE:ABX) last released its earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.19. Barrick Mining had a net margin of 29.45% and a return on equity of 12.10%. The company had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $5.15 billion. The company’s revenue for the quarter was up 44.6% on a year-over-year basis. Equities analysts anticipate that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.5%. The ex-dividend date is Friday, February 27th. This is an increase from Barrick Mining’s previous quarterly dividend of $0.18. Barrick Mining’s dividend payout ratio is presently 57.34%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. BNP Paribas Exane raised shares of Barrick Mining to a “neutral” rating and set a $50.00 target price for the company in a report on Friday, December 5th. Royal Bank Of Canada lifted their price target on shares of Barrick Mining from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Jefferies Financial Group restated a “buy” rating and issued a $55.00 price objective on shares of Barrick Mining in a research note on Sunday, December 7th. UBS Group set a $55.00 target price on Barrick Mining in a report on Friday, February 6th. Finally, Scotiabank lifted their target price on Barrick Mining from $43.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Barrick Mining presently has an average rating of “Moderate Buy” and an average target price of $53.58.

About Barrick Mining

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.