Clarius Group LLC Makes New $349,000 Investment in Barrick Mining Corporation $B

Key Points

• Clarius Group LLC invested approximately $349,000 to acquire 16,752 shares in Barrick Mining Corporation in Q2, marking a significant stake in the gold and copper producer.
• Several institutional investors have recently increased their positions in Barrick, with notable new stakes from Ninety One UK Ltd valued at $326.86 million and Perpetual Ltd at $63.42 million.
• Wall Street analysts have given Barrick Mining favorable ratings, with price targets raised by firms like Raymond James and Royal Bank of Canada, indicating a bullish outlook on the stock's performance.

Clarius Group LLC acquired a new position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 16,752 shares of the gold and copper producer's stock, valued at approximately $349,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in B. Ninety One UK Ltd bought a new stake in shares of Barrick Mining in the second quarter valued at about $326,862,000. Perpetual Ltd bought a new stake in Barrick Mining during the second quarter worth about $63,419,000. Assenagon Asset Management S.A. bought a new stake in Barrick Mining during the second quarter worth about $50,139,000. Systrade AG bought a new stake in Barrick Mining during the second quarter worth about $41,640,000. Finally, Auto Owners Insurance Co lifted its position in Barrick Mining by 10,194.1% during 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 purchasing an additional 1,039,800 shares during the period. 90.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

B has been the subject of several recent analyst reports. Raymond James Financial upped their price objective on shares of Barrick Mining from $32.00 to $36.00 and gave the stock an "outperform" rating in a research report on Monday, September 22nd. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Barrick Mining in a research report on Wednesday, September 24th. Royal Bank Of Canada upped their price objective on shares of Barrick Mining from $34.00 to $38.00 and gave the stock an "outperform" rating in a research report on Monday, September 22nd. National Bankshares raised shares of Barrick Mining to an "outperform" rating in a report on Monday, September 22nd. Finally, TD Securities increased their target price on shares of Barrick Mining from $30.00 to $38.00 and gave the stock a "buy" rating in a report on Monday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $33.33.

Barrick Mining Stock Performance

Barrick Mining stock opened at $34.03 on Tuesday. The business has a 50 day moving average of $27.63 and a 200-day moving average of $22.59. Barrick Mining Corporation has a 1 year low of $15.11 and a 1 year high of $36.10. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.21 and a quick ratio of 2.53. The company has a market capitalization of $57.95 billion, a P/E ratio of 21.40, a P/E/G ratio of 0.56 and a beta of 0.30.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released its quarterly earnings data on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.47. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.60 billion. During the same quarter in the prior year, the firm posted $0.32 earnings per share. The firm's revenue was up 16.4% compared to the same quarter last year. On average, equities research analysts predict 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. Stockholders of record on Friday, August 29th were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.60 annualized dividend and a dividend yield of 1.8%. Barrick Mining's dividend payout ratio is currently 37.74%.

Barrick Mining 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.

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