869,193 Shares in Barrick Mining Corporation $B Acquired by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. purchased a new stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 869,193 shares of the gold and copper producer’s stock, valued at approximately $18,097,000. Jupiter Asset Management Ltd. owned approximately 0.05% of Barrick Mining at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Envestnet Asset Management Inc. raised its position in shares of Barrick Mining by 18.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 828,666 shares of the gold and copper producer’s stock valued at $16,109,000 after purchasing an additional 126,643 shares during the period. Cerity Partners LLC increased its stake in Barrick Mining by 47.4% in the 1st quarter. Cerity Partners LLC now owns 136,786 shares of the gold and copper producer’s stock worth $2,659,000 after buying an additional 44,002 shares in the last quarter. New York State Common Retirement Fund raised its holdings in Barrick Mining by 15.5% during the first quarter. New York State Common Retirement Fund now owns 194,806 shares of the gold and copper producer’s stock valued at $3,787,000 after acquiring an additional 26,170 shares during the period. Bleakley Financial Group LLC raised its holdings in Barrick Mining by 5.5% during the first quarter. Bleakley Financial Group LLC now owns 26,366 shares of the gold and copper producer’s stock valued at $513,000 after acquiring an additional 1,375 shares during the period. Finally, Sigma Planning Corp raised its holdings in Barrick Mining by 22.2% during the first quarter. Sigma Planning Corp now owns 14,127 shares of the gold and copper producer’s stock valued at $275,000 after acquiring an additional 2,567 shares during the period. 90.82% of the stock is currently owned by institutional investors.

Barrick Mining Stock Performance

NYSE:B opened at $37.35 on Thursday. The company has a market cap of $63.03 billion, a price-to-earnings ratio of 23.49, a PEG ratio of 0.40 and a beta of 0.28. Barrick Mining Corporation has a 1 year low of $15.11 and a 1 year high of $37.60. The stock’s 50 day simple moving average is $32.49 and its two-hundred day simple moving average is $25.22. 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 (NYSE:B) (TSE:ABX) last posted its earnings results on Monday, November 10th. The gold and copper producer reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The firm had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $4.20 billion. During the same period in the prior year, the company earned $0.09 EPS. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. As a group, equities analysts anticipate that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be issued a $0.175 dividend. This is a boost from Barrick Mining’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, November 28th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.9%. Barrick Mining’s payout ratio is presently 37.74%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Barrick Mining in a research note on Tuesday. Raymond James Financial set a $40.00 price target on Barrick Mining and gave the stock an “outperform” rating in a report on Friday, October 10th. BMO Capital Markets restated a “market perform” rating on shares of Barrick Mining in a research note on Monday, September 22nd. UBS Group lifted their price objective on shares of Barrick Mining from $35.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Finally, Scotiabank raised shares of Barrick Mining from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $27.50 to $43.00 in a report on Thursday, October 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.90.

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.