Harbour Investments Inc. Invests $380,000 in Barrick Mining Corporation $B

Key Points

• Harbour Investments Inc. invested approximately $380,000 in Barrick Mining Corporation, acquiring 18,252 shares as part of their second-quarter strategy.
• Hedge funds and institutional investors own 90.82% of Barrick Mining's stock, with significant investments from TD Asset Management and Ninety One UK.
• Barrick Mining's latest quarterly earnings matched analyst expectations, reporting $0.47 EPS and a 16.4% revenue increase compared to the previous year.

Harbour Investments Inc. acquired a new position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 18,252 shares of the gold and copper producer's stock, valued at approximately $380,000.

Several other hedge funds and other institutional investors also recently modified their holdings of B. TD Asset Management Inc purchased a new position in shares of Barrick Mining during the second quarter worth about $386,328,000. Ninety One UK Ltd purchased a new stake in Barrick Mining in the second quarter worth approximately $326,862,000. Perpetual Ltd purchased a new stake in Barrick Mining in the second quarter worth approximately $63,419,000. Assenagon Asset Management S.A. purchased a new stake in Barrick Mining in the second quarter worth approximately $50,139,000. Finally, Euro Pacific Asset Management LLC purchased a new stake in Barrick Mining in the second quarter worth approximately $45,212,000. Hedge funds and other institutional investors own 90.82% of the company's stock.

Barrick Mining Price Performance

B opened at $34.75 on Tuesday. The stock has a fifty day simple moving average of $29.95 and a two-hundred day simple moving average of $23.61. The company has a current ratio of 3.21, a quick ratio of 2.53 and a debt-to-equity ratio of 0.14. The company has a market cap of $59.18 billion, a price-to-earnings ratio of 21.86, a price-to-earnings-growth ratio of 0.42 and a beta of 0.30. Barrick Mining Corporation has a 12-month low of $15.11 and a 12-month high of $36.40.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its quarterly earnings data on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.47. The business had revenue of $3.72 billion during 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%.The firm's quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.32 earnings per share. Research analysts predict that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

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

Analysts Set New Price Targets

Several analysts have issued reports on B shares. Royal Bank Of Canada upped their target price on Barrick Mining from $34.00 to $38.00 and gave the stock an "outperform" rating in a research note on Monday, September 22nd. Wall Street Zen raised Barrick Mining from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 11th. CIBC increased their price objective on Barrick Mining from $38.00 to $50.00 and gave the company an "outperformer" rating in a research note on Friday, October 10th. Zacks Research lowered Barrick Mining from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 21st. Finally, Canaccord Genuity Group increased their price objective on Barrick Mining from $39.00 to $57.00 and gave the company a "buy" rating in a research note on Thursday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $41.00.

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.

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