Riposte Capital LLC Purchases New Position in Barrick Mining Corporation $B

Key Points

• Riposte Capital initiated a 350,000-share position in Barrick Mining valued at approximately $14.3 million, making the miner its fourth-largest holding at 3.6% of the portfolio. Institutional investors collectively own 90.82% of the company.
• Analysts maintain a generally positive outlook, with one Strong Buy, 17 Buy and four Hold ratings. Barrick has an overall “Moderate Buy” consensus and an average price target of $52.46, despite several recent target-price reductions.
• Barrick reported quarterly EPS of $0.98, beating estimates by $0.18, while revenue rose 66.7% year over year to $4.11 billion but missed expectations. Shares opened at $36.78, and the company pays a $0.70 annualized dividend yielding about 1.9%.

Riposte Capital LLC bought a new stake in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 350,000 shares of the gold and copper producer's stock, valued at approximately $14,276,000. Barrick Mining comprises approximately 3.6% of Riposte Capital LLC's portfolio, making the stock its 4th biggest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Financial Consulate Inc. grew its stake in shares of Barrick Mining by 1,042.0% in the 4th quarter. Financial Consulate Inc. now owns 571 shares of the gold and copper producer's stock worth $25,000 after buying an additional 521 shares in the last quarter. Westside Investment Management Inc. bought a new position in shares of Barrick Mining in the 4th quarter valued at about $25,000. Intesa Sanpaolo Wealth Management bought a new position in shares of Barrick Mining in the 4th quarter valued at about $26,000. Ascentis Independent Advisors bought a new position in shares of Barrick Mining in the 1st quarter valued at about $28,000. Finally, JPL Wealth Management LLC purchased a new position in Barrick Mining in the third quarter worth about $28,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on B shares. Royal Bank Of Canada decreased their price target on Barrick Mining from $51.00 to $49.00 and set an "outperform" rating on the stock in a report on Thursday, July 9th. ATB Cormark Capital Markets lowered shares of Barrick Mining from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 7th. Barclays reduced their target price on shares of Barrick Mining from $41.00 to $39.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 15th. Canadian Imperial Bank of Commerce lowered their target price on shares of Barrick Mining to $63.00 and set an "outperformer" rating for the company in a report on Tuesday, April 21st. Finally, Bank of America cut their price target on shares of Barrick Mining from $58.00 to $56.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Barrick Mining currently has an average rating of "Moderate Buy" and an average target price of $52.46.

Barrick Mining Stock Down 1.6%

NYSE:B opened at $36.78 on Wednesday. The company has a market cap of $61.18 billion, a price-to-earnings ratio of 10.16, a price-to-earnings-growth ratio of 0.79 and a beta of 0.48. Barrick Mining Corporation has a twelve month low of $20.94 and a twelve month high of $54.69. The company has a current ratio of 3.06, a quick ratio of 2.44 and a debt-to-equity ratio of 0.13. The stock has a fifty day simple moving average of $38.74 and a 200-day simple moving average of $42.59.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last announced its quarterly earnings data on Monday, May 11th. The gold and copper producer reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.18. Barrick Mining had a return on equity of 14.81% and a net margin of 32.14%.The company had revenue of $4.11 billion for the quarter, compared to analysts' expectations of $4.75 billion. The company's revenue for the quarter was up 66.7% on a year-over-year basis. Analysts anticipate that Barrick Mining Corporation will post 3.57 EPS for the current year.

Barrick Mining Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were paid a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 1.9%. The ex-dividend date was Friday, May 29th. Barrick Mining's payout ratio is 19.34%.

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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