Jupiter Asset Management Ltd. Takes $18.10 Million Position in Barrick Mining Corporation $B

Jupiter Asset Management Ltd. purchased a new position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 869,193 shares of the gold and copper producer’s stock, valued at approximately $18,097,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Barrick Mining by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 68,861,295 shares of the gold and copper producer’s stock worth $1,337,012,000 after acquiring an additional 502,762 shares during the last quarter. First Eagle Investment Management LLC bought a new position in Barrick Mining during the 2nd quarter valued at about $822,056,000. TD Asset Management Inc purchased a new stake in Barrick Mining in the 2nd quarter worth about $386,328,000. Ninety One UK Ltd bought a new stake in Barrick Mining in the second quarter worth about $326,862,000. Finally, Mackenzie Financial Corp lifted its stake in Barrick Mining by 1.9% in the first quarter. Mackenzie Financial Corp now owns 15,614,848 shares of the gold and copper producer’s stock worth $303,161,000 after purchasing an additional 296,472 shares during the last quarter. 90.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on B. Citigroup upped their target price on Barrick Mining from $21.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Zacks Research cut Barrick Mining from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 21st. Wall Street Zen lowered Barrick Mining from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. Cormark raised shares of Barrick Mining from a “hold” rating to a “moderate buy” rating in a research note on Tuesday. Finally, Bank of America upped their price target on shares of Barrick Mining from $36.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.90.

Barrick Mining Price Performance

Shares of B stock opened at $37.35 on Thursday. Barrick Mining Corporation has a twelve month low of $15.11 and a twelve month high of $37.60. The company has a current ratio of 3.21, a quick ratio of 2.53 and a debt-to-equity ratio of 0.14. The stock has a fifty day simple moving average of $32.49 and a two-hundred day simple moving average of $25.22. The stock has a market capitalization of $63.03 billion, a price-to-earnings ratio of 23.49, a P/E/G ratio of 0.40 and a beta of 0.28.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings data on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share for the quarter, beating the consensus estimate 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 previous year, the company posted $0.09 earnings per share. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. On average, analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Increases Dividend

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

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.