2,171,791 Shares in Barrick Mining Corporation $B Bought by Euro Pacific Asset Management LLC

Key Points

• Euro Pacific Asset Management LLC has acquired 2,171,791 shares of Barrick Mining Corporation, valued at approximately $45.2 million, making it the firm's second biggest position.
• Barrick Mining reported a 16.4% increase in quarterly revenue year-over-year, totaling $3.72 billion, while earnings per share matched analyst expectations at $0.47.
• The company recently declared a quarterly dividend of $0.15, with a current annualized yield of 1.8% and a payout ratio of 37.74%.

Euro Pacific Asset Management LLC purchased a new stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,171,791 shares of the gold and copper producer's stock, valued at approximately $45,212,000. Barrick Mining comprises 7.3% of Euro Pacific Asset Management LLC's portfolio, making the stock its 2nd biggest position. Euro Pacific Asset Management LLC owned 0.13% of Barrick Mining at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Ninety One UK Ltd acquired a new position in shares of Barrick Mining in the second quarter valued at approximately $326,862,000. Perpetual Ltd bought a new stake in shares of Barrick Mining during the 2nd quarter worth approximately $63,419,000. Assenagon Asset Management S.A. bought a new stake in Barrick Mining during the second quarter worth $50,139,000. Systrade AG bought a new position in Barrick Mining during the second quarter worth about $41,640,000. Finally, Auto Owners Insurance Co increased its holdings in shares of Barrick Mining by 10,194.1% during the 1st quarter. Auto Owners Insurance Co now owns 1,050,000 shares of the gold and copper producer's stock worth $20,412,000 after acquiring an additional 1,039,800 shares during the last quarter. 90.82% of the stock is currently owned by institutional investors.

Barrick Mining Price Performance

Shares of B opened at $33.94 on Monday. The firm has a market cap of $57.78 billion, a PE ratio of 21.34, a price-to-earnings-growth ratio of 0.56 and a beta of 0.30. Barrick Mining Corporation has a 52-week low of $15.11 and a 52-week high of $36.10. The business's 50 day moving average price is $27.37 and its two-hundred day moving average price is $22.48. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.53 and a current ratio of 3.21.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its quarterly earnings results on Monday, August 11th. The gold and copper producer reported $0.47 EPS for the quarter, hitting analysts' consensus estimates of $0.47. The business had revenue of $3.72 billion during the quarter, compared to analysts' expectations of $3.60 billion. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The business's quarterly revenue was up 16.4% on a year-over-year basis. During the same period last year, the company posted $0.32 earnings per share. On average, equities analysts anticipate that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.60 annualized dividend and a yield of 1.8%. Barrick Mining's dividend payout ratio (DPR) is presently 37.74%.

Analyst Ratings Changes

B has been the subject of several research reports. National Bankshares upgraded shares of Barrick Mining to an "outperform" rating in a research report on Monday, September 22nd. National Bank Financial raised shares of Barrick Mining from a "sector perform" rating to an "outperform" rating in a report on Monday, September 22nd. Bank of America boosted their price target on Barrick Mining from $29.00 to $34.00 and gave the stock a "neutral" rating in a report on Friday, September 19th. Cibc World Mkts raised shares of Barrick Mining from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 12th. Finally, UBS Group increased their target price on Barrick Mining from $26.00 to $35.00 and gave the company a "buy" rating in a research report on Friday, September 19th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $33.33.

Barrick Mining Profile

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.   In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.

Want to see what other hedge funds are holding B? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.