Ninety One SA PTY Ltd Invests $480,000 in Barrick Mining Corporation $B

Ninety One SA PTY Ltd acquired a new stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 23,350 shares of the gold and copper producer’s stock, valued at approximately $480,000.

Several other institutional investors also recently bought and sold shares of B. Vermillion Wealth Management Inc. purchased a new stake in Barrick Mining in the second quarter worth about $25,000. Crowley Wealth Management Inc. bought a new stake in Barrick Mining during the 2nd quarter valued at $26,000. SJS Investment Consulting Inc. bought a new stake in Barrick Mining during the 2nd quarter valued at $29,000. Cary Street Partners Investment Advisory LLC bought a new stake in Barrick Mining during the 1st quarter valued at $32,000. Finally, AdvisorNet Financial Inc bought a new stake in Barrick Mining during the 2nd quarter valued at $39,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Mining Price Performance

Shares of B stock opened at $32.78 on Wednesday. The stock’s 50-day simple moving average is $26.64 and its 200-day simple moving average is $22.15. The firm has a market capitalization of $55.82 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 0.58 and a beta of 0.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.53 and a current ratio of 3.21. Barrick Mining Corporation has a fifty-two week low of $15.11 and a fifty-two week high of $36.10.

Barrick Mining (NYSE:B) (TSE:ABX) last released its earnings results on Monday, August 11th. The gold and copper producer reported $0.47 EPS for the quarter, hitting analysts’ consensus estimates of $0.47. The company had revenue of $3.72 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 16.4% on a year-over-year basis. During the same period last year, the business earned $0.32 EPS. As a group, equities analysts forecast that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, August 29th. Barrick Mining’s dividend payout ratio is presently 37.74%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on B. TD Securities upped their price objective on Barrick Mining from $30.00 to $38.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Scotiabank boosted their target price on shares of Barrick Mining from $25.00 to $26.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 13th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Barrick Mining in a research report on Monday, September 22nd. Raymond James Financial lifted their price objective on shares of Barrick Mining from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Finally, UBS Group raised their target price on shares of Barrick Mining from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, September 19th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Barrick Mining currently has a consensus rating of “Moderate Buy” and an average target price of $33.33.

About Barrick Mining

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.