Engineers Gate Manager LP Has $18.02 Million Stock Holdings in Barrick Mining Corporation $B

Key Points

• Engineers Gate Manager LP increased its Barrick Mining stake by 17.5% in the second quarter, holding 490,619 shares valued at approximately $18.02 million. Institutional investors collectively own 90.82% of the company.
• Barrick reported quarterly EPS of $0.82, slightly above the $0.81 consensus estimate, while revenue rose 43.8% year over year to $4.19 billion. The company also declared a quarterly dividend of $0.175, representing a 1.6% annualized yield.
• Analysts maintain a “Moderate Buy” consensus rating, with a consensus price target of $52.63, although several firms recently lowered their targets.

Engineers Gate Manager LP boosted its stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 17.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 490,619 shares of the gold and copper producer's stock after purchasing an additional 73,226 shares during the period. Engineers Gate Manager LP's holdings in Barrick Mining were worth $18,020,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Van ECK Associates Corp boosted its stake in shares of Barrick Mining by 22.8% during the fourth quarter. Van ECK Associates Corp now owns 55,423,240 shares of the gold and copper producer's stock valued at $2,413,699,000 after purchasing an additional 10,287,544 shares in the last quarter. Royal Bank of Canada boosted its position in Barrick Mining by 10.9% during the 1st quarter. Royal Bank of Canada now owns 39,598,520 shares of the gold and copper producer's stock worth $1,615,225,000 after buying an additional 3,881,841 shares during the period. FIL Ltd grew its holdings in Barrick Mining by 85.3% during the 4th quarter. FIL Ltd now owns 30,099,422 shares of the gold and copper producer's stock worth $1,311,169,000 after acquiring an additional 13,853,587 shares during the last quarter. Mackenzie Financial Corp increased its position in Barrick Mining by 61.9% in the 4th quarter. Mackenzie Financial Corp now owns 20,591,745 shares of the gold and copper producer's stock valued at $909,104,000 after acquiring an additional 7,870,411 shares during the period. Finally, TD Asset Management Inc raised its stake in shares of Barrick Mining by 5.6% during the fourth quarter. TD Asset Management Inc now owns 20,395,667 shares of the gold and copper producer's stock valued at $889,627,000 after acquiring an additional 1,086,332 shares during the last quarter. Institutional investors own 90.82% of the company's stock.

Barrick Mining Stock Performance

Shares of B opened at $44.54 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.01 and a quick ratio of 2.36. The stock has a 50-day moving average of $40.60 and a 200-day moving average of $41.41. The company has a market cap of $73.31 billion, a PE ratio of 11.48, a P/E/G ratio of 1.26 and a beta of 0.51. Barrick Mining Corporation has a one year low of $28.38 and a one year high of $54.69.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released its quarterly earnings data on Monday, August 10th. The gold and copper producer reported $0.82 EPS for the quarter, beating the consensus estimate of $0.81 by $0.01. Barrick Mining had a return on equity of 16.02% and a net margin of 31.60%.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 previous year, the company posted $0.47 earnings per share. The company's quarterly revenue was up 43.8% on a year-over-year basis. On average, equities research analysts predict that Barrick Mining Corporation will post 3.56 EPS for the current fiscal year.

Barrick Mining Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, August 31st. Barrick Mining's dividend payout ratio (DPR) is 18.04%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Sanford C. Bernstein reduced their price objective on shares of Barrick Mining from $61.00 to $56.50 and set an "outperform" rating on the stock in a research note on Wednesday. UBS Group lowered 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. Royal Bank Of Canada cut their target price on Barrick Mining from $51.00 to $49.00 and set an "outperform" rating on the stock in a report on Thursday, July 9th. Canadian Imperial Bank of Commerce set a $57.00 target price on Barrick Mining in a report on Wednesday, August 12th. Finally, Barclays increased their price target on Barrick Mining from $39.00 to $42.00 and gave the stock an "equal weight" rating in a report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.63.

Barrick Mining Company Profile

Barrick Mining Corporation, formerly known as Barrick Gold Corporation, is a global mining company focused primarily on the production of gold and copper. Its activities include the exploration, development, construction and operation of mines, as well as processing ore into refined metal products.

The company operates and holds interests in mining assets across several regions, including North America, South America, Africa, the Middle East and Papua New Guinea. Its portfolio includes gold operations such as Nevada Gold Mines in the United States, Pueblo Viejo in the Dominican Republic, Veladero in Argentina, Kibali in the Democratic Republic of the Congo, and North Mara and Bulyanhulu in Tanzania.

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