Bank of Nova Scotia Has $169.36 Million Stake in Barrick Mining Corporation $B

Bank of Nova Scotia decreased its position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 10.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,145,547 shares of the gold and copper producer’s stock after selling 480,790 shares during the quarter. Bank of Nova Scotia owned about 0.25% of Barrick Mining worth $169,360,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in B. Bogart Wealth LLC increased its stake in shares of Barrick Mining by 3.5% during the 4th quarter. Bogart Wealth LLC now owns 6,442 shares of the gold and copper producer’s stock worth $281,000 after purchasing an additional 218 shares during the last quarter. Parvin Asset Management LLC raised its holdings in shares of Barrick Mining by 0.7% during the 4th quarter. Parvin Asset Management LLC now owns 33,385 shares of the gold and copper producer’s stock valued at $1,454,000 after purchasing an additional 225 shares in the last quarter. Silver Oak Securities Incorporated lifted its stake in shares of Barrick Mining by 2.9% in the 1st quarter. Silver Oak Securities Incorporated now owns 8,810 shares of the gold and copper producer’s stock valued at $359,000 after purchasing an additional 246 shares during the last quarter. Mmbg Investment Advisors CO. increased its position in Barrick Mining by 0.6% during the fourth quarter. Mmbg Investment Advisors CO. now owns 43,454 shares of the gold and copper producer’s stock worth $1,892,000 after buying an additional 254 shares during the last quarter. Finally, S.A. Mason LLC raised its holdings in Barrick Mining by 1.3% during the fourth quarter. S.A. Mason LLC now owns 23,114 shares of the gold and copper producer’s stock valued at $1,007,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on B. Royal Bank Of Canada reduced their price target on Barrick Mining from $51.00 to $49.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Scotiabank lowered their price objective on Barrick Mining from $63.00 to $57.00 and set a “sector outperform” rating on the stock in a report on Tuesday, July 14th. Bank of America cut their price objective on Barrick Mining from $58.00 to $56.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. ATB Cormark Capital Markets lowered Barrick Mining from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. Finally, Canadian Imperial Bank of Commerce decreased their target price on Barrick Mining to $63.00 and set an “outperformer” rating for the company in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.46.

Trending Headlines about Barrick Mining

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

• Positive Sentiment: Gold’s move above $4,000 an ounce and renewed central-bank buying are supporting the broader gold-mining trade, which could lift sentiment toward Barrick Mining and other producers. Gold price above USD 4,000 and central bank rally: Barrick Mining, Lahontan Gold, Newmont—time to buy now?
• Positive Sentiment: Barrick is being highlighted by market commentators as a potential beneficiary of the strong gold backdrop, reinforcing the view that the company’s core business is well positioned if bullion stays high. Man Who Called 2008 Crash Says Now Is the Time to “Invest in Early-Stage Gold Stocks”
• Positive Sentiment: Barrick’s purchase of roughly a 9.9% stake in Kingfisher Metals gives it additional exposure to the HWY 37 project and adds exploration upside through technical collaboration, which investors may view as a growth-oriented move. Barrick Mining Buys 10% Stake in Kingfisher Metals for C$20.9 Million
• Positive Sentiment: Barrick also announced the start of an exploration program with Midland on the Lewis project, signaling continued investment in future resource growth. Midland, in Partnership with Barrick, Commences an Exploration Program for Gold on the Lewis Project
• Neutral Sentiment: News that Barrick supports local content rules is more likely to be viewed as a policy and operating update than a direct earnings catalyst. Barrick supports local content rules
• Neutral Sentiment: JPMorgan lowered its price target on Barrick to $50, which adds a note of caution but does not change the broader positive gold-sector backdrop. JPMorgan Chase & Co. Lowers Barrick Mining (NYSE:B) Price Target to $50.00

Barrick Mining Stock Performance

Shares of B opened at $37.15 on Friday. The company has a market capitalization of $61.79 billion, a PE ratio of 10.26, a price-to-earnings-growth ratio of 0.79 and a beta of 0.48. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.06 and a quick ratio of 2.44. Barrick Mining Corporation has a one year low of $20.94 and a one year high of $54.69. The company’s fifty day moving average price is $38.93 and its 200 day moving average price is $42.80.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings results on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.18. The company had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.75 billion. Barrick Mining had a net margin of 32.14% and a return on equity of 14.81%. The firm’s revenue for the quarter was up 66.7% compared to the same quarter last year. As a group, analysts expect that Barrick Mining Corporation will post 3.61 earnings per share for the current year.

Barrick Mining Cuts Dividend

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