1,640,224 Barrick Mining Corporation $B Shares Acquired by Ninety One UK Ltd

Ninety One UK Ltd grew its position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 13.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,143,606 shares of the gold and copper producer’s stock after acquiring an additional 1,640,224 shares during the quarter. Barrick Mining comprises approximately 1.3% of Ninety One UK Ltd’s portfolio, making the stock its 20th biggest position. Ninety One UK Ltd’s holdings in Barrick Mining were worth $575,220,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. PFG Private Wealth Management LLC increased its stake in Barrick Mining by 41.6% in the third quarter. PFG Private Wealth Management LLC now owns 15,744 shares of the gold and copper producer’s stock valued at $640,000 after purchasing an additional 4,622 shares during the period. Ninety One SA Pty Ltd raised its holdings in shares of Barrick Mining by 2,158.1% in the third quarter. Ninety One SA Pty Ltd now owns 772,894 shares of the gold and copper producer’s stock valued at $31,595,000 after buying an additional 738,667 shares during the last quarter. Triumph Capital Management boosted its stake in shares of Barrick Mining by 15.4% during the third quarter. Triumph Capital Management now owns 3,324 shares of the gold and copper producer’s stock worth $135,000 after buying an additional 443 shares during the period. Henry James International Management Inc. boosted its stake in shares of Barrick Mining by 14.1% during the third quarter. Henry James International Management Inc. now owns 46,635 shares of the gold and copper producer’s stock worth $1,897,000 after buying an additional 5,765 shares during the period. Finally, Koa Wealth Management LLC boosted its stake in shares of Barrick Mining by 2.1% during the third quarter. Koa Wealth Management LLC now owns 70,318 shares of the gold and copper producer’s stock worth $2,860,000 after buying an additional 1,463 shares during the period. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Mining Stock Performance

NYSE B traded up $1.22 during trading hours on Thursday, hitting $40.11. 3,677,182 shares of the stock were exchanged, compared to its average volume of 12,283,300. The company has a quick ratio of 2.36, a current ratio of 3.01 and a debt-to-equity ratio of 0.13. The company has a market cap of $65.57 billion, a price-to-earnings ratio of 10.32, a price-to-earnings-growth ratio of 1.25 and a beta of 0.48. Barrick Mining Corporation has a 12-month low of $30.35 and a 12-month high of $54.69. The stock has a 50-day moving average of $42.95 and a 200 day moving average of $40.93.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings data on Monday, August 10th. The gold and copper producer reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. Barrick Mining had a return on equity of 16.02% and a net margin of 31.60%. The company had revenue of $4.19 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same quarter in the previous year, the company earned $0.47 EPS. The firm’s revenue for the quarter was up 43.8% compared to the same quarter last year. As a group, equities research analysts forecast that Barrick Mining Corporation will post 3.52 earnings per share for the current year.

Barrick Mining Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were issued a $0.1750 dividend. This represents a $0.70 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, August 31st. Barrick Mining’s dividend payout ratio (DPR) is currently 18.04%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on B shares. TD set a $59.00 price target on Barrick Mining and gave the company a “buy” rating in a research report on Wednesday, September 16th. Weiss Ratings raised Barrick Mining from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Royal Bank Of Canada lifted their target price on Barrick Mining from $49.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, September 16th. Wall Street Zen lowered Barrick Mining from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Finally, Canadian Imperial Bank of Commerce set a $57.00 target price on Barrick Mining in a report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $53.39.

About Barrick Mining

Barrick Mining Corporation, formerly known as Barrick Gold Corporation, is a global mining company focused primarily on the exploration, development and production of gold and copper. Its activities include operating mines, advancing development projects and managing mineral reserves across multiple jurisdictions.

The company’s gold operations include Nevada Gold Mines in the United States, a joint venture in which Barrick is the operator, as well as mines and projects in Canada, the Dominican Republic, Mali, Côte d’Ivoire, Tanzania and the Democratic Republic of the Congo.