Fruth Investment Management Invests $391,000 in Barrick Mining Corporation $B

Key Points

• Fruth Investment Management has acquired a new stake in Barrick Mining Corporation, purchasing 18,800 shares valued at approximately $391,000.
• Analysts have set new price targets for Barrick Mining, with Bank of America raising their target from $29.00 to $34.00, reflecting a generally positive outlook on the stock.
• Barrick Mining recently announced a quarterly dividend of $0.15, representing an annualized yield of 1.8%, while also reporting a net margin of 19.99% for the latest quarter.

Fruth Investment Management acquired a new position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 18,800 shares of the gold and copper producer's stock, valued at approximately $391,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Barrick Mining by 0.7% in the first quarter. Vanguard Group Inc. now owns 68,861,295 shares of the gold and copper producer's stock valued at $1,337,012,000 after purchasing an additional 502,762 shares during the last quarter. TD Asset Management Inc increased its stake in shares of Barrick Mining by 1.6% in the first quarter. TD Asset Management Inc now owns 17,950,892 shares of the gold and copper producer's stock worth $348,479,000 after buying an additional 275,015 shares during the period. Mackenzie Financial Corp increased its stake in shares of Barrick Mining by 1.9% in the first quarter. Mackenzie Financial Corp now owns 15,614,848 shares of the gold and copper producer's stock worth $303,161,000 after buying an additional 296,472 shares during the period. Ruffer LLP raised its holdings in Barrick Mining by 1.5% during the 1st quarter. Ruffer LLP now owns 10,426,795 shares of the gold and copper producer's stock valued at $202,701,000 after buying an additional 156,947 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd boosted its position in Barrick Mining by 0.6% during the 1st quarter. ANTIPODES PARTNERS Ltd now owns 10,112,758 shares of the gold and copper producer's stock valued at $196,608,000 after buying an additional 61,298 shares during the period. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Mining Stock Up 7.2%

B stock traded up $2.38 on Monday, reaching $35.37. 51,681,822 shares of the company traded hands, compared to its average volume of 20,044,188. Barrick Mining Corporation has a one year low of $15.11 and a one year high of $35.70. 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 cap of $60.23 billion, a P/E ratio of 20.75, a price-to-earnings-growth ratio of 0.58 and a beta of 0.27. The firm has a fifty day simple moving average of $24.84 and a 200-day simple moving average of $21.42.

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 EPS for the quarter, hitting analysts' consensus estimates of $0.47. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The firm had revenue of $3.72 billion for the quarter, compared to analysts' expectations of $3.60 billion. During the same period in the prior year, the firm posted $0.32 earnings per share. The company's quarterly revenue was up 16.4% on a year-over-year basis. Research analysts anticipate that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, August 29th. Barrick Mining's payout ratio is 37.74%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on B shares. Cibc World Mkts upgraded shares of Barrick Mining from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 12th. Raymond James Financial upped their price objective on shares of Barrick Mining from $32.00 to $36.00 and gave the company an "outperform" rating in a research note on Monday. Scotiabank upped their price objective on shares of Barrick Mining from $25.00 to $26.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 13th. TD Securities boosted their target price on Barrick Mining from $30.00 to $38.00 and gave the company a "buy" rating in a research note on Monday. Finally, National Bank Financial raised Barrick Mining from a "sector perform" rating to an "outperform" rating in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $32.00.

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.