Ninepoint Partners LP Takes $17.03 Million Position in Barrick Mining Corporation $B

Key Points

• Ninepoint Partners acquired 463,708 Barrick Mining shares worth approximately $17.03 million, making the stock its 14th-largest holding and about 1.3% of its portfolio. Institutional investors collectively own 90.82% of Barrick’s shares.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $52.57. Recent target changes included JPMorgan raising its target to $52 and TD lowering its target to $59.
• Barrick reported quarterly earnings of $0.82 per share, slightly above estimates, while revenue rose 43.8% year over year to $4.19 billion. The company also declared a quarterly dividend of $0.175 per share, equivalent to a 1.5% yield.

Ninepoint Partners LP acquired a new position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 463,708 shares of the gold and copper producer's stock, valued at approximately $17,032,000. Barrick Mining accounts for approximately 1.3% of Ninepoint Partners LP's portfolio, making the stock its 14th biggest holding.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Intesa Sanpaolo Wealth Management acquired a new stake in shares of Barrick Mining during the fourth quarter worth approximately $26,000. Ascentis Independent Advisors acquired a new position in Barrick Mining in the 1st quarter valued at approximately $28,000. JPL Wealth Management LLC purchased a new stake in Barrick Mining in the 3rd quarter worth approximately $28,000. Laurel Wealth Advisors LLC purchased a new stake in Barrick Mining in the 4th quarter worth approximately $30,000. Finally, Motiv8 Investments LLC acquired a new stake in shares of Barrick Mining during the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 90.82% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on B. JPMorgan Chase & Co. boosted their target price on Barrick Mining from $50.00 to $52.00 and gave the company an "overweight" rating in a research note on Friday, August 14th. Citigroup reaffirmed a "positive" rating on shares of Barrick Mining in a research note on Wednesday, July 15th. TD reduced their price target on Barrick Mining from $61.00 to $59.00 and set a "buy" rating for the company in a report on Tuesday, August 11th. Canadian Imperial Bank of Commerce set a $57.00 price target on Barrick Mining in a research note on Wednesday, August 12th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Barrick Mining in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Barrick Mining presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.57.

Barrick Mining Stock Performance

Shares of NYSE B opened at $46.34 on Friday. The business's 50-day simple moving average is $38.70 and its 200-day simple moving average is $41.53. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.36 and a current ratio of 3.01. Barrick Mining Corporation has a 52 week low of $24.89 and a 52 week high of $54.69. The firm has a market cap of $76.27 billion, a price-to-earnings ratio of 11.94, a P/E/G ratio of 0.87 and a beta of 0.47.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its earnings results on Monday, August 10th. The gold and copper producer reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.01. The firm had revenue of $4.19 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%.The company's revenue for the quarter was up 43.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.47 EPS. As a group, equities research analysts expect that Barrick Mining Corporation will post 3.52 earnings per share for the current fiscal year.

Barrick Mining Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, August 31st. Barrick Mining's dividend payout ratio is currently 18.04%.

Barrick Mining Profile

Barrick Gold Corporation, commonly known as Barrick, is a Toronto‑headquartered mining company focused on the exploration, development, production and sale of gold and copper. Listed on major exchanges (including the New York Stock Exchange under the symbol B), Barrick operates as an integrated minerals producer, running large‑scale mining complexes, processing facilities and related support services for extraction and metallurgical treatment of ore.

The company's activities span the full mining value chain: greenfield exploration, feasibility and permitting, mine construction, ongoing operations, and closure and reclamation.

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