40,000 Shares in Barrick Mining Corporation $B Bought by Freemont Management S.A.

Freemont Management S.A. bought a new stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the third quarter, Holdings Channel reports. The institutional investor bought 40,000 shares of the gold and copper producer’s stock, valued at approximately $1,627,000. Barrick Mining accounts for approximately 1.6% of Freemont Management S.A.’s investment portfolio, making the stock its 10th largest holding.

Other hedge funds also recently modified their holdings of the company. Ascentis Independent Advisors bought a new stake in Barrick Mining during the first quarter worth $28,000. Continuum Advisory LLC purchased a new stake in Barrick Mining in the 2nd quarter valued at $32,000. Allied Private Wealth LLC bought a new position in Barrick Mining during the 2nd quarter valued at $35,000. Root Financial Partners LLC bought a new position in Barrick Mining during the 3rd quarter valued at $38,000. Finally, Main Street Group LTD bought a new position in Barrick Mining during the 1st quarter valued at $46,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Wall Street Analyst Weigh In

B has been the topic of a number of analyst reports. Freedom Broker downgraded shares of Barrick Mining from a “buy” rating to a “hold” rating and cut their price objective for the stock from $54.00 to $46.00 in a report on Thursday, October 22nd. Wall Street Zen downgraded shares of Barrick Mining from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings raised shares of Barrick Mining from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Barclays boosted their price target on shares of Barrick Mining from $39.00 to $42.00 and gave the stock an “equal weight” rating in a report on Thursday, August 13th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Barrick Mining from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Barrick Mining currently has an average rating of “Moderate Buy” and a consensus price target of $52.59.

Barrick Mining Stock Performance

Shares of B opened at $40.28 on Friday. The company has a current ratio of 3.01, a quick ratio of 2.36 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $65.59 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 1.25 and a beta of 0.52. The stock has a 50 day moving average of $41.46 and a 200 day moving average of $42.03. Barrick Mining Corporation has a 12 month low of $32.17 and a 12 month high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly 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. Barrick Mining had a return on equity of 16.02% and a net margin of 31.60%. The business had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same period last year, the company posted $0.47 earnings per share. Barrick Mining’s quarterly revenue was up 43.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Barrick Mining Corporation will post 3.49 earnings per share for the current year.

Barrick Mining Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Monday, August 31st. This represents a $0.70 annualized dividend and a dividend yield of 1.7%. Barrick Mining’s dividend payout ratio (DPR) is currently 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.