Barrick Mining Corporation (NYSE:B) Shares Bought by Ruffer LLP

Key Points

• Ruffer LLP has increased its stake in Barrick Mining Corporation by 1.5% during the first quarter, making it the firm's 4th largest position, valued at approximately $202.7 million.
• Equities research analysts have been bullish on Barrick Mining, with several upgrading their ratings, resulting in a consensus rating of "Moderate Buy" and a target price of $24.41.
• Barrick Mining announced a quarterly dividend of $0.10 per share, which reflects a 1.9% yield and a payout ratio of 30.08% as of the latest filing.

Ruffer LLP raised its holdings in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 1.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,426,795 shares of the gold and copper producer's stock after purchasing an additional 156,947 shares during the quarter. Barrick Mining accounts for about 7.8% of Ruffer LLP's portfolio, making the stock its 4th largest position. Ruffer LLP owned about 0.61% of Barrick Mining worth $202,701,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital International Investors boosted its stake in shares of Barrick Mining by 136.1% during the 4th quarter. Capital International Investors now owns 33,293,792 shares of the gold and copper producer's stock worth $516,055,000 after purchasing an additional 19,189,830 shares during the period. TD Asset Management Inc boosted its position in shares of Barrick Mining by 1.6% during the first quarter. TD Asset Management Inc now owns 17,950,892 shares of the gold and copper producer's stock valued at $348,479,000 after buying an additional 275,015 shares during the period. Mackenzie Financial Corp grew its stake in shares of Barrick Mining by 1.9% during the first quarter. Mackenzie Financial Corp now owns 15,614,848 shares of the gold and copper producer's stock valued at $303,161,000 after buying an additional 296,472 shares during the last quarter. Causeway Capital Management LLC purchased a new stake in shares of Barrick Mining in the fourth quarter worth approximately $172,225,000. Finally, Geode Capital Management LLC lifted its stake in shares of Barrick Mining by 32.4% during the 4th quarter. Geode Capital Management LLC now owns 10,650,999 shares of the gold and copper producer's stock worth $169,261,000 after acquiring an additional 2,603,744 shares during the last quarter. 90.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wall Street Zen upgraded Barrick Mining from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 5th. Scotiabank boosted their price objective on shares of Barrick Mining from $20.00 to $22.00 and gave the company a "sector perform" rating in a research report on Monday, April 14th. BMO Capital Markets initiated coverage on shares of Barrick Mining in a research note on Wednesday, April 16th. They set a "market perform" rating for the company. CIBC increased their price objective on Barrick Mining from $24.00 to $28.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Finally, UBS Group upped their target price on Barrick Mining from $22.00 to $25.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $24.41.

Barrick Mining Stock Up 1.7%

Barrick Mining stock traded up $0.37 during midday trading on Tuesday, reaching $22.55. The company's stock had a trading volume of 12,937,250 shares, compared to its average volume of 10,751,178. Barrick Mining Corporation has a 52-week low of $15.11 and a 52-week high of $22.57. The stock has a market capitalization of $38.47 billion, a P/E ratio of 16.95, a PEG ratio of 0.34 and a beta of 0.27. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.87 and a quick ratio of 2.16. The stock's 50-day simple moving average is $20.86 and its 200-day simple moving average is $19.25.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last announced its quarterly earnings data on Wednesday, May 7th. The gold and copper producer reported $0.35 EPS for the quarter, beating the consensus estimate of $0.29 by $0.06. The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $3.15 billion. Barrick Mining had a net margin of 17.46% and a return on equity of 7.51%. Barrick Mining's revenue was up 13.9% on a year-over-year basis. During the same period last year, the firm posted $0.19 EPS. On average, sell-side analysts expect that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.8%. Barrick Mining's dividend payout ratio is currently 30.08%.

Barrick Mining Company 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.