Barrick Mining Corporation (NYSE:B) Stake Raised by RWC Asset Management LLP

Key Points

• RWC Asset Management LLP increased its stake in Barrick Mining by 7.7%, now owning approximately 3.5% of the company, valued at around $68 million.
• Barrick Mining reported $0.35 earnings per share for the latest quarter, exceeding estimates, while quarterly revenue was $3 billion, slightly below predictions.
• The company recently declared a $0.10 quarterly dividend, reflecting an annualized yield of 1.84%, with a payout ratio of 30.08%.

RWC Asset Management LLP boosted its stake in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 7.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,506,407 shares of the gold and copper producer's stock after buying an additional 252,144 shares during the quarter. Barrick Mining accounts for about 3.5% of RWC Asset Management LLP's holdings, making the stock its 4th biggest holding. RWC Asset Management LLP owned approximately 0.20% of Barrick Mining worth $68,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of B. Farther Finance Advisors LLC grew its stake in shares of Barrick Mining by 21.8% during the first quarter. Farther Finance Advisors LLC now owns 3,146 shares of the gold and copper producer's stock worth $62,000 after purchasing an additional 563 shares in the last quarter. Sapient Capital LLC boosted its position in shares of Barrick Mining by 0.5% during the 1st quarter. Sapient Capital LLC now owns 114,572 shares of the gold and copper producer's stock worth $2,227,000 after acquiring an additional 624 shares in the last quarter. Kestra Private Wealth Services LLC increased its holdings in shares of Barrick Mining by 2.5% in the 1st quarter. Kestra Private Wealth Services LLC now owns 28,724 shares of the gold and copper producer's stock valued at $558,000 after acquiring an additional 710 shares during the last quarter. Keystone Financial Group raised its position in shares of Barrick Mining by 1.4% during the 4th quarter. Keystone Financial Group now owns 56,394 shares of the gold and copper producer's stock worth $874,000 after acquiring an additional 753 shares in the last quarter. Finally, Edge Wealth Management LLC lifted its stake in Barrick Mining by 6.1% during the first quarter. Edge Wealth Management LLC now owns 13,110 shares of the gold and copper producer's stock worth $255,000 after purchasing an additional 755 shares during the last quarter. Hedge funds and other institutional investors own 90.82% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on B. BMO Capital Markets began coverage on shares of Barrick Mining in a report on Wednesday, April 16th. They set a "market perform" rating on the stock. Citigroup cut their price objective on shares of Barrick Mining from $21.00 to $17.00 and set a "neutral" rating on the stock in a report on Monday, March 31st. UBS Group raised their price objective on shares of Barrick Mining from $22.00 to $25.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Royal Bank Of Canada set a $26.00 price objective on shares of Barrick Mining and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Finally, Raymond James Financial raised their price objective on shares of Barrick Mining from $23.00 to $23.50 and gave the stock an "outperform" rating in a report on Monday, March 31st. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Barrick Mining currently has an average rating of "Moderate Buy" and an average target price of $24.41.

Barrick Mining Stock Performance

Barrick Mining stock traded down $0.33 during trading hours on Monday, reaching $21.41. 11,142,620 shares of the stock were exchanged, compared to its average volume of 9,411,377. Barrick Mining Corporation has a 52-week low of $15.11 and a 52-week high of $21.95. The stock has a market cap of $36.53 billion, a P/E ratio of 15.10, a P/E/G ratio of 0.33 and a beta of 0.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.16 and a current ratio of 2.87. The firm's 50 day moving average is $20.54 and its 200 day moving average is $19.01.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its quarterly earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.06. The firm had revenue of $3 billion during the quarter, compared to analysts' expectations of $3.15 billion. Barrick Mining had a net margin of 17.46% and a return on equity of 7.51%. The firm's revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.19 earnings per share. Analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Friday, May 30th. Barrick Mining's dividend payout ratio (DPR) is 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.