Fusion Capital LLC Makes New Investment in Barrick Mining Corporation $B

Key Points

• Fusion Capital LLC initiated a 120,683-share Barrick Mining position valued at approximately $4.9 million during the third quarter. Institutional investors now own 90.82% of the company’s stock.
• Analysts maintain a generally positive outlook, with Barrick receiving a consensus “Moderate Buy” rating and an average price target of $52.59, despite some target-price reductions and one downgrade to “Hold.”
• Barrick shares opened at $36.99, down 4.3%, while the company reported quarterly EPS of $0.82 and revenue of $5.29 billion, exceeding estimates; it also declared a quarterly dividend of $0.175 per share.

Fusion Capital LLC bought a new position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 120,683 shares of the gold and copper producer's stock, valued at approximately $4,908,000. Barrick Mining makes up 1.1% of Fusion Capital LLC's portfolio, making the stock its 28th biggest holding.

A number of other large investors have also bought and sold shares of the business. Lebenthal Global Advisors LLC raised its position in shares of Barrick Mining by 7.7% during the 3rd quarter. Lebenthal Global Advisors LLC now owns 51,498 shares of the gold and copper producer's stock valued at $2,094,000 after acquiring an additional 3,695 shares during the last quarter. Moody Aldrich Partners LLC bought a new position in shares of Barrick Mining in the 3rd quarter worth $522,000. Great Lakes Retirement Inc. boosted its position in shares of Barrick Mining by 3.1% in the 3rd quarter. Great Lakes Retirement Inc. now owns 36,471 shares of the gold and copper producer's stock worth $1,483,000 after purchasing an additional 1,085 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of Barrick Mining by 5.2% during the third quarter. Oppenheimer & Co. Inc. now owns 35,803 shares of the gold and copper producer's stock worth $1,456,000 after purchasing an additional 1,780 shares during the period. Finally, Park Avenue Securities LLC acquired a new stake in shares of Barrick Mining during the third quarter worth $361,000. 90.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Scotiabank cut their target price on Barrick Mining from $57.00 to $55.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 12th. JPMorgan Chase & Co. boosted their target price on Barrick Mining from $52.00 to $55.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 21st. RBC Dominion Securities set a $53.00 price target on Barrick Mining and gave the company an "outperform" rating in a research note on Thursday, October 22nd. Wall Street Zen downgraded shares of Barrick Mining from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Finally, Bank of America reduced their price objective on shares of Barrick Mining from $56.00 to $54.00 and set a "buy" rating on the stock in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Barrick Mining currently has a consensus rating of "Moderate Buy" and a consensus target price of $52.59.

Barrick Mining Trading Down 4.3%

NYSE B opened at $36.99 on Friday. The firm has a market cap of $60.47 billion, a P/E ratio of 9.53, a P/E/G ratio of 1.20 and a beta of 0.48. 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's 50-day moving average is $42.18 and its 200-day moving average is $42.24. Barrick Mining Corporation has a one year low of $31.61 and a one year high of $54.69.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last issued its quarterly earnings data on Monday, August 10th. The gold and copper producer reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.01. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.10 billion. Barrick Mining had a return on equity of 16.02% and a net margin of 31.60%. Barrick Mining's quarterly revenue was up 43.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.47 EPS. Sell-side analysts anticipate that Barrick Mining Corporation will post 3.49 earnings per share for the current fiscal year.

Barrick Mining Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were issued a dividend of $0.1750 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Monday, August 31st. Barrick Mining's dividend payout ratio (DPR) is presently 18.04%.

About Barrick Mining

Barrick Mining Corporation, formerly known as Barrick Gold Corporation, is a global mining company focused primarily on the exploration, development and production of gold and copper. Its activities include operating mines, advancing development projects and managing mineral reserves across multiple jurisdictions.

The company’s gold operations include Nevada Gold Mines in the United States, a joint venture in which Barrick is the operator, as well as mines and projects in Canada, the Dominican Republic, Mali, Côte d’Ivoire, Tanzania and the Democratic Republic of the Congo.

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