Ninety One UK Ltd Has $159.58 Million Stock Position in Barrick Mining Corporation (NYSE:B)

Ninety One UK Ltd boosted its stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 20.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,208,676 shares of the gold and copper producer's stock after buying an additional 1,405,207 shares during the period. Ninety One UK Ltd owned 0.48% of Barrick Mining worth $159,577,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. acquired a new stake in Barrick Mining in the fourth quarter worth $26,000. Vega Investment Solutions acquired a new stake in Barrick Mining in the fourth quarter worth $31,000. Nexus Investment Management ULC acquired a new stake in Barrick Mining in the first quarter worth $32,000. Strategic Investment Solutions Inc. IL acquired a new stake in Barrick Mining in the fourth quarter worth $37,000. Finally, Ameriflex Group Inc. acquired a new stake in Barrick Mining in the fourth quarter worth $39,000. 90.82% of the stock is owned by institutional investors and hedge funds.

Barrick Mining Price Performance

B stock traded up $0.15 during trading hours on Friday, hitting $21.22. 8,632,540 shares of the stock traded hands, compared to its average volume of 4,081,517. The stock has a 50-day simple moving average of $19.97 and a 200 day simple moving average of $18.57. Barrick Mining Corporation has a one year low of $17.41 and a one year high of $47.50. The company has a market cap of $36.38 billion, a P/E ratio of 15.95, a P/E/G ratio of 0.34 and a beta of 0.28. The company has a current ratio of 2.87, a quick ratio of 2.16 and a debt-to-equity ratio of 0.14.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last announced its earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.06. Barrick Mining had a return on equity of 7.51% and a net margin of 17.46%. The business had revenue of $3 billion during the quarter, compared to analysts' expectations of $3.15 billion. During the same quarter last year, the business posted $0.19 earnings per share. The company's quarterly revenue was up 13.9% on a year-over-year basis. Equities analysts forecast that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.40 annualized dividend and a yield of 1.89%. Barrick Mining's dividend payout ratio is currently 30.08%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on B shares. National Bank Financial raised Barrick Mining to a "hold" rating in a research report on Friday, March 21st. Royal Bank Of Canada set a $26.00 target price on Barrick Mining and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. CIBC raised their price target on Barrick Mining from $22.00 to $24.00 and gave the company a "neutral" rating in a report on Wednesday, June 11th. National Bankshares reissued an "outperform" rating on shares of Barrick Mining in a report on Wednesday, April 2nd. Finally, Stifel Canada raised Barrick Mining to a "strong-buy" rating in a report on Wednesday, March 19th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $24.05.

Barrick Mining 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.