Fractal Investments LLC Acquires New Shares in Barrick Mining Corporation $B

Key Points

• Fractal Investments LLC acquired 16,400 shares of Barrick Mining Corporation valued at approximately $341,000 in the second quarter, signaling confidence in the company's prospects.
• Several large institutional investors, including Toronto Dominion Bank, have significantly increased their investments in Barrick Mining, resulting in institutional ownership rising to 90.82%.
• Barrick Mining reported earnings of $0.47 per share for the last quarter, meeting analyst expectations, along with a quarterly revenue of $3.72 billion, surpassing estimates.

Fractal Investments LLC acquired a new stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 16,400 shares of the gold and copper producer's stock, valued at approximately $341,000.

A number of other large investors have also made changes to their positions in B. Brickwood Asset Management LLP bought a new stake in shares of Barrick Mining in the 4th quarter valued at $27,193,000. Toronto Dominion Bank increased its position in shares of Barrick Mining by 26.5% in the 4th quarter. Toronto Dominion Bank now owns 7,635,073 shares of the gold and copper producer's stock valued at $118,269,000 after buying an additional 1,599,259 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Barrick Mining in the 4th quarter valued at $23,788,000. Ninety One UK Ltd increased its holdings in Barrick Mining by 20.7% during the 1st quarter. Ninety One UK Ltd now owns 8,208,676 shares of the gold and copper producer's stock worth $159,577,000 after purchasing an additional 1,405,207 shares in the last quarter. Finally, Auto Owners Insurance Co increased its holdings in Barrick Mining by 10,194.1% during the 1st 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 in the last quarter. Institutional investors own 90.82% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Cibc World Mkts upgraded Barrick Mining from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 12th. Scotiabank increased their target price on Barrick Mining from $25.00 to $26.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 13th. Royal Bank Of Canada set a $26.00 target price on Barrick Mining and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Wall Street Zen cut Barrick Mining from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Finally, CIBC upgraded Barrick Mining from a "neutral" rating to an "outperform" rating in a report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Barrick Mining currently has a consensus rating of "Moderate Buy" and an average price target of $24.94.

Barrick Mining Price Performance

NYSE:B opened at $29.05 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. The stock's 50-day simple moving average is $23.94 and its 200 day simple moving average is $20.98. The company has a market cap of $49.47 billion, a P/E ratio of 18.27, a P/E/G ratio of 0.54 and a beta of 0.28. Barrick Mining Corporation has a 52-week low of $15.11 and a 52-week high of $29.79.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released its earnings results on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.47. The business had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.60 billion. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.Barrick Mining's quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 earnings per share. As a group, sell-side analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, August 29th. Barrick Mining's dividend payout ratio (DPR) is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.