Barrick Mining Corporation $B Stock: Ninety One SA Pty Ltd Raises Stake

Key Points

• Ninety One SA Pty Ltd increased its Barrick Mining stake by 2,158.1% in the third quarter, bringing its holdings to 772,894 shares valued at approximately $31.6 million. Institutional investors collectively own 90.82% of the company.
• Analysts maintain a generally positive outlook, with Barrick receiving a consensus “Moderate Buy” rating and an average price target of $53.39, despite some target-price reductions and neutral or hold ratings.
• Barrick reported quarterly EPS of $0.82, slightly above estimates, while revenue rose 43.8% year over year to $4.19 billion. The company also maintains a quarterly dividend of $0.175 per share, equivalent to a 1.7% annual yield.

Ninety One SA Pty Ltd lifted its position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 2,158.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 772,894 shares of the gold and copper producer's stock after buying an additional 738,667 shares during the period. Barrick Mining makes up about 1.6% of Ninety One SA Pty Ltd's investment portfolio, making the stock its 8th biggest position. Ninety One SA Pty Ltd's holdings in Barrick Mining were worth $31,595,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Triumph Capital Management increased its stake in Barrick Mining by 15.4% in the 3rd quarter. Triumph Capital Management now owns 3,324 shares of the gold and copper producer's stock worth $135,000 after buying an additional 443 shares in the last quarter. Henry James International Management Inc. grew its holdings in Barrick Mining by 14.1% during the 3rd quarter. Henry James International Management Inc. now owns 46,635 shares of the gold and copper producer's stock valued at $1,897,000 after buying an additional 5,765 shares in the last quarter. Koa Wealth Management LLC increased its position in Barrick Mining by 2.1% in the third quarter. Koa Wealth Management LLC now owns 70,318 shares of the gold and copper producer's stock worth $2,860,000 after purchasing an additional 1,463 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in shares of Barrick Mining in the 3rd quarter worth about $339,000. Finally, DKM Wealth Management Inc. purchased a new stake in Barrick Mining during the 3rd quarter valued at $203,000. Hedge funds and other institutional investors own 90.82% of the company's stock.

Wall Street Analysts Forecast Growth

B has been the subject of several research analyst reports. UBS Group decreased their target price on Barrick Mining from $54.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday, June 30th. Wall Street Zen downgraded Barrick Mining from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Barclays increased their price objective on shares of Barrick Mining from $39.00 to $42.00 and gave the company an "equal weight" rating in a research report on Thursday, August 13th. Citigroup lifted their price target on Barrick Mining from $41.00 to $45.00 and gave the stock a "neutral" rating in a research report on Thursday, September 3rd. Finally, Canadian Imperial Bank of Commerce set a $57.00 price objective on shares of Barrick Mining in a research note on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Barrick Mining has a consensus rating of "Moderate Buy" and a consensus target price of $53.39.

Barrick Mining Price Performance

Barrick Mining stock traded up $1.14 during trading on Thursday, reaching $40.02. The company had a trading volume of 3,650,891 shares, compared to its average volume of 12,283,300. The firm has a market capitalization of $65.43 billion, a PE ratio of 10.33, a price-to-earnings-growth ratio of 1.25 and a beta of 0.48. The firm's 50-day simple moving average is $42.95 and its 200 day simple moving average is $40.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.36 and a current ratio of 3.01. Barrick Mining Corporation has a 1-year low of $30.35 and a 1-year high of $54.69.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released its quarterly earnings results on Monday, August 10th. The gold and copper producer reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.01. Barrick Mining had a net margin of 31.60% and a return on equity of 16.02%. The firm had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter in the prior year, the firm earned $0.47 EPS. The company's revenue for the quarter was up 43.8% on a year-over-year basis. As a group, equities research analysts anticipate that Barrick Mining Corporation will post 3.52 earnings per share for the current fiscal year.

Barrick Mining Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were issued a dividend of $0.1750 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.7%. Barrick Mining's dividend payout ratio is presently 18.04%.

Barrick Mining Company Profile

Barrick Mining Corporation, formerly known as Barrick Gold Corporation, is a global mining company focused primarily on the exploration, development and production of gold and copper. Its activities include operating mines, advancing development projects and managing mineral reserves across multiple jurisdictions.

The company's gold operations include Nevada Gold Mines in the United States, a joint venture in which Barrick is the operator, as well as mines and projects in Canada, the Dominican Republic, Mali, Côte d'Ivoire, Tanzania and the Democratic Republic of the Congo.

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