Brave Asset Management Inc. Invests $208,000 in Barrick Mining Corporation $B

Key Points

• Brave Asset Management Inc. has invested approximately $208,000 in Barrick Mining Corporation, acquiring 10,000 shares during the second quarter.
• Institutional investors collectively own 90.82% of Barrick Mining, with recent significant investments from firms like Perpetual Ltd and Assenagon Asset Management.
• Barrick Mining reported a 16.4% year-over-year revenue increase, reaching $3.72 billion with an EPS of $0.47, meeting analyst expectations.

Brave Asset Management Inc. purchased a new stake in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 10,000 shares of the gold and copper producer's stock, valued at approximately $208,000.

Other institutional investors have also added to or reduced their stakes in the company. Perpetual Ltd purchased a new stake in shares of Barrick Mining during the second quarter valued at approximately $63,419,000. Assenagon Asset Management S.A. bought a new stake in shares of Barrick Mining during the 2nd quarter worth $50,139,000. Systrade AG purchased a new position in shares of Barrick Mining in the 2nd quarter worth about $41,640,000. Ninety One UK Ltd increased its holdings in Barrick Mining by 20.7% during the first quarter. Ninety One UK Ltd now owns 8,208,676 shares of the gold and copper producer's stock worth $159,577,000 after buying an additional 1,405,207 shares during the last quarter. Finally, Auto Owners Insurance Co raised its position in Barrick Mining by 10,194.1% in the first quarter. Auto Owners Insurance Co now owns 1,050,000 shares of the gold and copper producer's stock worth $20,412,000 after acquiring an additional 1,039,800 shares during the period. 90.82% of the stock is owned by institutional investors.

Barrick Mining Price Performance

Shares of NYSE B opened at $34.30 on Friday. 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 fifty-two week low of $15.11 and a fifty-two week high of $36.10. The stock has a market cap of $58.41 billion, a PE ratio of 21.57, a price-to-earnings-growth ratio of 0.59 and a beta of 0.28. The stock has a fifty day moving average of $25.91 and a 200-day moving average of $21.82.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last issued its earnings results on Monday, August 11th. The gold and copper producer reported $0.47 EPS for the quarter, hitting the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.60 billion. During the same quarter last year, the company earned $0.32 EPS. The firm's revenue was up 16.4% compared to the same quarter last year. Equities research analysts anticipate that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.60 annualized dividend and a yield of 1.7%. Barrick Mining's payout ratio is currently 37.74%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Royal Bank Of Canada increased their target price on shares of Barrick Mining from $34.00 to $38.00 and gave the company an "outperform" rating in a research report on Monday. Sanford C. Bernstein reissued an "outperform" rating on shares of Barrick Mining in a report on Wednesday. Raymond James Financial raised their target price on Barrick Mining from $32.00 to $36.00 and gave the stock an "outperform" rating in a research report on Monday. Cibc World Mkts raised Barrick Mining from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 12th. Finally, CIBC reissued an "outperform" rating on shares of Barrick Mining in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Barrick Mining has an average rating of "Moderate Buy" and a consensus price target of $33.33.

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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