Ninety One UK Ltd Purchases Shares of 15,699,416 Barrick Mining Corporation $B

Key Points

• Ninety One UK Ltd acquired 15,699,416 shares of Barrick Mining Corporation, valued at approximately $326.9 million, representing about 0.92% of the company's stock as of the latest reporting period.
• Several other institutional investors have also increased their stakes, with notable purchases including Perpetual Ltd and Assenagon Asset Management, contributing to a total institutional ownership of 90.82%.
• Barrick Mining recently cut its dividend to $0.15 per share, which translates to an annualized yield of 1.8%, and reported a 19.99% net margin during its last earnings report, with revenues up 16.4% year-over-year.

Ninety One UK Ltd purchased a new stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,699,416 shares of the gold and copper producer's stock, valued at approximately $326,862,000. Ninety One UK Ltd owned about 0.92% of Barrick Mining at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Perpetual Ltd purchased a new stake in Barrick Mining in the 2nd quarter valued at approximately $63,419,000. Assenagon Asset Management S.A. acquired a new position in shares of Barrick Mining in the second quarter worth $50,139,000. Systrade AG purchased a new stake in shares of Barrick Mining in the second quarter valued at $41,640,000. Auto Owners Insurance Co lifted its position in shares of Barrick Mining by 10,194.1% in the first quarter. Auto Owners Insurance Co now owns 1,050,000 shares of the gold and copper producer's stock valued at $20,412,000 after acquiring an additional 1,039,800 shares in the last quarter. Finally, Intact Investment Management Inc. boosted its stake in shares of Barrick Mining by 53.6% during the first quarter. Intact Investment Management Inc. now owns 2,254,840 shares of the gold and copper producer's stock valued at $43,785,000 after acquiring an additional 786,820 shares during the last quarter. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on B. BMO Capital Markets reissued a "market perform" rating on shares of Barrick Mining in a research note on Monday, September 22nd. TD Securities lifted their price target on shares of Barrick Mining from $30.00 to $38.00 and gave the stock a "buy" rating in a report on Monday, September 22nd. CIBC reissued an "outperform" rating on shares of Barrick Mining in a research note on Monday, September 22nd. Zacks Research lowered shares of Barrick Mining from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 21st. Finally, National Bank Financial raised shares of Barrick Mining from a "sector perform" rating to an "outperform" rating in a research note on Monday, September 22nd. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $33.33.

Barrick Mining Trading Down 1.1%

Shares of B stock opened at $32.78 on Wednesday. The firm's 50-day simple moving average is $26.64 and its 200-day simple moving average is $22.15. 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 1-year low of $15.11 and a 1-year high of $36.10. The firm has a market cap of $55.82 billion, a P/E ratio of 20.62, a PEG ratio of 0.58 and a beta of 0.28.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released its earnings results on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.47. The firm 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%. Barrick Mining's revenue was up 16.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 earnings per share. As a group, equities analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Cuts Dividend

The company 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 was Friday, August 29th. Barrick Mining's dividend payout ratio is presently 37.74%.

Barrick Mining Company Profile

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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