Ativo Capital Management LLC Makes New Investment in Barrick Mining Corporation $B

Key Points

• Ativo Capital Management LLC has acquired 72,457 shares of Barrick Mining Corporation, valued at approximately $1.5 million, indicating growing institutional interest in the gold and copper producer.
• Barrick Mining reported an earnings per share (EPS) of $0.47 for the latest quarter, aligning with analysts' estimates, and saw a year-over-year revenue increase of 16.4%.
• The company's stock has received a mix of ratings, with the current consensus at "Moderate Buy" and a target price of $38.10, following recent analyst upgrades and downgrades.

Ativo Capital Management LLC acquired a new position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 72,457 shares of the gold and copper producer's stock, valued at approximately $1,509,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Barrick Mining by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 68,861,295 shares of the gold and copper producer's stock worth $1,337,012,000 after buying an additional 502,762 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of Barrick Mining by 1.6% in the 1st quarter. TD Asset Management Inc now owns 17,950,892 shares of the gold and copper producer's stock worth $348,479,000 after buying an additional 275,015 shares during the last quarter. Ninety One UK Ltd purchased a new position in shares of Barrick Mining in the 2nd quarter worth approximately $326,862,000. Mackenzie Financial Corp boosted its position in Barrick Mining by 1.9% in the first quarter. Mackenzie Financial Corp now owns 15,614,848 shares of the gold and copper producer's stock worth $303,161,000 after purchasing an additional 296,472 shares during the last quarter. Finally, Ruffer LLP boosted its position in Barrick Mining by 1.5% in the first quarter. Ruffer LLP now owns 10,426,795 shares of the gold and copper producer's stock worth $202,701,000 after purchasing an additional 156,947 shares during the last quarter. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Mining Stock Performance

Shares of B opened at $33.39 on Tuesday. The stock's 50-day simple moving average is $28.81 and its 200 day simple moving average is $23.08. The stock has a market capitalization of $56.86 billion, a price-to-earnings ratio of 21.00, a price-to-earnings-growth ratio of 0.53 and a beta of 0.30. 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 Corporation has a 52-week low of $15.11 and a 52-week high of $36.10.

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

Barrick Mining Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on B. Zacks Research downgraded shares of Barrick Mining from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. Canaccord Genuity Group boosted their price target on shares of Barrick Mining from $39.00 to $57.00 and gave the stock a "buy" rating in a report on Thursday, October 9th. National Bank Financial upgraded shares of Barrick Mining from a "sector perform" rating to an "outperform" rating in a research note on Monday, September 22nd. Sanford C. Bernstein reiterated an "outperform" rating on shares of Barrick Mining in a research note on Wednesday, September 24th. Finally, Wall Street Zen upgraded shares of Barrick Mining from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.10.

About Barrick Mining

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.

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