Ninety One North America Inc. Makes New Investment in Barrick Mining Corporation $B

Key Points

• Ninety One North America bought a new position of 134,473 Barrick shares in Q4 valued at about $5.86 million, and overall institutional ownership stands at 90.82%.
• Barrick beat estimates for the quarter with $1.04 EPS (vs. $0.85) and revenue of $5.98 billion (up 44.6% YoY vs. $5.15 billion expected), supporting a market cap of about $72.5 billion and a P/E of 14.8.
• The company raised its quarterly dividend to $0.42 (annualized $1.68, ~3.9% yield) and maintains a generally positive analyst backdrop—consensus "Moderate Buy" with an average target near $54.83 and several recent upgrades.

Ninety One North America Inc. bought a new position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 134,473 shares of the gold and copper producer's stock, valued at approximately $5,856,000.

Several other hedge funds have also added to or reduced their stakes in B. CW Advisors LLC bought a new position in shares of Barrick Mining during the second quarter valued at $283,000. EverSource Wealth Advisors LLC bought a new position in shares of Barrick Mining during the second quarter valued at $53,000. First Trust Advisors LP bought a new position in shares of Barrick Mining during the second quarter valued at $857,000. Baird Financial Group Inc. bought a new position in shares of Barrick Mining during the second quarter valued at $2,569,000. Finally, Cresset Asset Management LLC bought a new position in shares of Barrick Mining during the second quarter valued at $543,000. 90.82% of the stock is owned by institutional investors.

Barrick Mining Stock Performance

Shares of B opened at $43.29 on Friday. The company has a quick ratio of 2.33, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The business has a 50-day simple moving average of $44.12 and a two-hundred day simple moving average of $41.87. The stock has a market cap of $72.53 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 1.58 and a beta of 0.50. Barrick Mining Corporation has a 52 week low of $17.41 and a 52 week high of $54.69.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last issued its quarterly earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.19. The business had revenue of $5.98 billion during the quarter, compared to analysts' expectations of $5.15 billion. Barrick Mining had a return on equity of 12.10% and a net margin of 29.45%.The company's revenue was up 44.6% on a year-over-year basis. On average, analysts expect that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Friday, February 27th were given a $0.42 dividend. The ex-dividend date was Friday, February 27th. This is a positive change from Barrick Mining's previous quarterly dividend of $0.18. This represents a $1.68 dividend on an annualized basis and a yield of 3.9%. Barrick Mining's dividend payout ratio (DPR) is currently 57.34%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. assumed coverage on Barrick Mining in a report on Thursday, January 29th. They set an "overweight" rating and a $68.00 price target on the stock. Wall Street Zen raised Barrick Mining from a "buy" rating to a "strong-buy" rating in a report on Saturday, February 7th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Barrick Mining in a report on Friday, March 27th. Citigroup upped their price target on Barrick Mining from $38.00 to $48.00 and gave the company a "neutral" rating in a report on Monday, February 9th. Finally, ATB Cormark Capital Markets downgraded Barrick Mining from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Barrick Mining presently has a consensus rating of "Moderate Buy" and an average target price of $54.83.

About Barrick Mining

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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