Artemis Investment Management LLP Acquires 85,043 Shares of Barrick Mining Corporation $B

Key Points

• Artemis Investment Management increased its stake in Barrick by 18.9%, buying 85,043 shares for a total holding of 536,021 shares valued at $23,344,000 per its latest SEC filing.
• Barrick reported a strong quarter with EPS of $1.04 (beating the $0.85 estimate) and revenue of $5.98 billion (up 44.6% year‑over‑year), and it raised its quarterly dividend to $0.42 (annualized $1.68) for a 4.3% yield.
• Institutional investors own about 90.82% of the stock; the company has a market cap of $64.99 billion, a P/E of 13.24, and a consensus analyst target of $54.17 with an average rating of "Moderate Buy."

Artemis Investment Management LLP increased its holdings in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 18.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 536,021 shares of the gold and copper producer's stock after purchasing an additional 85,043 shares during the quarter. Artemis Investment Management LLP's holdings in Barrick Mining were worth $23,344,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of B. CW Advisors LLC purchased a new stake in Barrick Mining during the second quarter valued at $283,000. EverSource Wealth Advisors LLC purchased a new stake in Barrick Mining during the second quarter valued at $53,000. First Trust Advisors LP purchased a new stake in Barrick Mining during the second quarter valued at $857,000. Baird Financial Group Inc. purchased a new stake in Barrick Mining during the second quarter valued at $2,569,000. Finally, Cresset Asset Management LLC purchased a new stake in Barrick Mining during the second quarter valued at $543,000. 90.82% of the stock is owned by institutional investors.

Barrick Mining Price Performance

NYSE:B opened at $38.79 on Friday. The firm has a market capitalization of $64.99 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 1.44 and a beta of 0.41. Barrick Mining Corporation has a 1 year low of $17.41 and a 1 year high of $54.69. The business has a 50 day simple moving average of $42.85 and a 200-day simple moving average of $42.30. 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 - Get Free Report) TSE: ABX last posted its quarterly earnings data on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.19. Barrick Mining had a return on equity of 12.10% and a net margin of 29.45%.The business had revenue of $5.98 billion during the quarter, compared to analyst estimates of $5.15 billion. The firm's revenue was up 44.6% compared to the same quarter last year. Equities analysts forecast that Barrick Mining Corporation will post 3.56 EPS for the current year.

Barrick Mining Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 27th were issued a $0.42 dividend. The ex-dividend date was Friday, February 27th. This is a positive change from Barrick Mining's previous quarterly dividend of $0.18. This represents a $1.68 annualized dividend and a dividend yield of 4.3%. Barrick Mining's dividend payout ratio (DPR) is currently 57.34%.

Wall Street Analyst Weigh In

B has been the subject of a number of research reports. Canadian Imperial Bank of Commerce reduced their price objective on Barrick Mining to $63.00 and set an "outperformer" rating for the company in a research report on Tuesday, April 21st. Weiss Ratings restated a "buy (b)" rating on shares of Barrick Mining in a research report on Friday, March 27th. Wall Street Zen upgraded Barrick Mining from a "buy" rating to a "strong-buy" rating in a research report on Saturday, February 7th. Canaccord Genuity Group reduced their price target on Barrick Mining to $77.00 and set a "buy" rating for the company in a research report on Wednesday, February 18th. Finally, JPMorgan Chase & Co. began coverage on Barrick Mining in a research report on Thursday, January 29th. They issued an "overweight" rating and a $68.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $54.17.

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.

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