Inspire Investing LLC Invests $839,000 in Barrick Mining Corporation $B

Key Points

• Inspire Investing LLC invested $839,000 by purchasing 40,293 shares of Barrick Mining Corporation during the second quarter.
• Several institutional investors, including Ninety One UK Ltd and Perpetual Ltd, have also acquired significant positions in Barrick Mining, which is currently over 90% owned by such investors.
• The stock has received positive ratings from analysts, with two labeling it a Strong Buy, as well as multiple price target increases, indicating strong market interest.

Inspire Investing LLC purchased a new position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 40,293 shares of the gold and copper producer's stock, valued at approximately $839,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of B. Ninety One UK Ltd acquired a new position in Barrick Mining in the 2nd quarter valued at $326,862,000. Perpetual Ltd acquired a new position in Barrick Mining in the 2nd quarter valued at $63,419,000. Assenagon Asset Management S.A. acquired a new position in Barrick Mining in the 2nd quarter valued at $50,139,000. Euro Pacific Asset Management LLC acquired a new position in Barrick Mining in the 2nd quarter valued at $45,212,000. Finally, Systrade AG acquired a new position in Barrick Mining in the 2nd quarter valued at $41,640,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on B. BMO Capital Markets reiterated a "market perform" rating on shares of Barrick Mining in a research note on Monday, September 22nd. UBS Group raised their target price on shares of Barrick Mining from $26.00 to $35.00 and gave the company a "buy" rating in a research note on Friday, September 19th. Weiss Ratings reiterated a "buy (b)" rating on shares of Barrick Mining in a research note on Saturday, September 27th. Raymond James Financial set a $40.00 price target on shares of Barrick Mining and gave the company an "outperform" rating in a report on Friday. Finally, Bank of America increased their price target on shares of Barrick Mining from $29.00 to $34.00 and gave the company a "neutral" rating in a report on Friday, September 19th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.10.

Barrick Mining Price Performance

Shares of Barrick Mining stock opened at $32.73 on Monday. 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 fifty-two week low of $15.11 and a fifty-two week high of $36.10. The firm has a fifty day moving average price of $28.58 and a two-hundred day moving average price of $22.98. The company has a market cap of $55.72 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 0.53 and a beta of 0.30.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released its quarterly earnings data on Monday, August 11th. The gold and copper producer reported $0.47 EPS for the quarter, hitting analysts' consensus estimates of $0.47. The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.60 billion. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The firm's revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period last year, the firm earned $0.32 EPS. Analysts expect that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, August 29th. Barrick Mining's dividend payout ratio (DPR) is presently 37.74%.

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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