FengHe Fund Management Pte. Ltd. Buys Shares of 981,500 Barrick Mining Corporation $B

Key Points

• FengHe Fund Management has acquired 981,500 shares of Barrick Mining Corporation, valued at approximately $20.4 million, making it the fund's 13th largest position at about 3.3% of its portfolio.
• Barrick Mining recently reported a quarterly earnings of $0.47 per share, meeting expectations, and saw a 16.4% increase in revenue year-over-year at $3.72 billion.
• The company announced a quarterly dividend of $0.15 per share, representing a 1.8% dividend yield, while its dividend payout ratio is currently at 37.74%.

FengHe Fund Management Pte. Ltd. acquired a new stake in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 981,500 shares of the gold and copper producer's stock, valued at approximately $20,435,000. Barrick Mining makes up about 3.3% of FengHe Fund Management Pte. Ltd.'s investment portfolio, making the stock its 13th largest position. FengHe Fund Management Pte. Ltd. owned about 0.06% of Barrick Mining at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in B. Vermillion Wealth Management Inc. purchased a new position in shares of Barrick Mining during the 2nd quarter valued at $25,000. Crowley Wealth Management Inc. purchased a new position in Barrick Mining in the second quarter valued at about $26,000. SJS Investment Consulting Inc. bought a new stake in shares of Barrick Mining in the 2nd quarter valued at approximately $29,000. Cary Street Partners Investment Advisory LLC bought a new stake in shares of Barrick Mining in the 1st quarter valued at approximately $32,000. Finally, AdvisorNet Financial Inc bought a new stake in shares of Barrick Mining in the 2nd quarter valued at approximately $39,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Mining Stock Up 2.9%

B stock opened at $33.72 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.21 and a quick ratio of 2.53. Barrick Mining Corporation has a 52-week low of $15.11 and a 52-week high of $36.10. The company has a 50-day moving average of $26.88 and a two-hundred day moving average of $22.23. The stock has a market capitalization of $57.42 billion, a price-to-earnings ratio of 21.21, a price-to-earnings-growth ratio of 0.54 and a beta of 0.30.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last issued its quarterly 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 company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.60 billion. During the same period in the previous year, the business posted $0.32 EPS. The company's revenue for the quarter was up 16.4% on a year-over-year basis. As a group, equities research analysts anticipate that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Cuts Dividend

The business 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 was Friday, August 29th. This represents a $0.60 annualized dividend and a dividend yield of 1.8%. Barrick Mining's dividend payout ratio (DPR) is presently 37.74%.

Wall Street Analyst Weigh In

Several analysts have commented on B shares. Royal Bank Of Canada boosted their target price 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. Wall Street Zen cut shares of Barrick Mining from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. TD Securities upped their price objective 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. Sanford C. Bernstein reiterated an "outperform" rating on shares of Barrick Mining in a research note on Wednesday, September 24th. Finally, UBS Group upped their target price on Barrick Mining from $26.00 to $35.00 and gave the stock a "buy" rating in a research report on Friday, September 19th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $33.33.

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.

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