Ninety One SA Pty Ltd Purchases 738,667 Shares of Barrick Mining Corporation $B

Ninety One SA Pty Ltd raised its position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 2,158.1% during the third quarter, HoldingsChannel reports. The firm owned 772,894 shares of the gold and copper producer’s stock after purchasing an additional 738,667 shares during the period. Barrick Mining comprises 1.6% of Ninety One SA Pty Ltd’s holdings, making the stock its 8th biggest position. Ninety One SA Pty Ltd’s holdings in Barrick Mining were worth $31,595,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ascentis Independent Advisors purchased a new stake in Barrick Mining during the 1st quarter valued at about $28,000. Key Financial Inc raised its holdings in Barrick Mining by 137.5% in the 1st quarter. Key Financial Inc now owns 753 shares of the gold and copper producer’s stock valued at $31,000 after acquiring an additional 436 shares during the last quarter. Continuum Advisory LLC acquired a new stake in Barrick Mining in the 2nd quarter valued at about $32,000. Allied Private Wealth LLC acquired a new stake in Barrick Mining in the 2nd quarter valued at about $35,000. Finally, Main Street Group LTD purchased a new position in Barrick Mining in the 1st quarter worth approximately $46,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Wall Street Analysts Forecast Growth

B has been the topic of several recent research reports. Bank of America lowered their target price on Barrick Mining from $56.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Barclays upped their price target on Barrick Mining from $39.00 to $42.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. JPMorgan Chase & Co. increased their price target on Barrick Mining from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, August 14th. Wall Street Zen downgraded Barrick Mining from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings upgraded Barrick Mining from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.39.

Barrick Mining Trading Up 2.9%

Shares of B traded up $1.14 during mid-day trading on Thursday, reaching $40.02. The stock had a trading volume of 3,650,891 shares, compared to its average volume of 12,283,300. Barrick Mining Corporation has a 52-week low of $30.35 and a 52-week high of $54.69. The firm has a market cap of $65.43 billion, a price-to-earnings ratio of 10.33, a P/E/G ratio of 1.25 and a beta of 0.48. The business’s fifty day moving average is $42.95 and its 200 day moving average is $40.93. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.01 and a quick ratio of 2.36.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its earnings results on Monday, August 10th. The gold and copper producer reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. The company had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $5.10 billion. Barrick Mining had a net margin of 31.60% and a return on equity of 16.02%. Barrick Mining’s quarterly revenue was up 43.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.47 earnings per share. On average, sell-side analysts predict that Barrick Mining Corporation will post 3.52 EPS for the current fiscal year.

Barrick Mining Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were given a dividend of $0.1750 per share. 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 payout ratio is presently 18.04%.

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.