981,500 Shares in Barrick Mining Corporation $B Purchased by FengHe Fund Management Pte. Ltd.

FengHe Fund Management Pte. Ltd. acquired a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 981,500 shares of the gold and copper producer’s stock, valued at approximately $20,435,000. Barrick Mining accounts for approximately 3.3% of FengHe Fund Management Pte. Ltd.’s investment portfolio, making the stock its 13th biggest position.

Several other institutional investors also recently modified their holdings of the company. Ninety One UK Ltd acquired a new stake in shares of Barrick Mining during the 2nd quarter valued at about $326,862,000. Perpetual Ltd acquired a new stake in Barrick Mining during the second quarter valued at approximately $63,419,000. Assenagon Asset Management S.A. acquired a new stake in Barrick Mining in the 2nd quarter valued at $50,139,000. Systrade AG acquired a new stake in Barrick Mining in the 2nd quarter valued at $41,640,000. Finally, Auto Owners Insurance Co boosted its stake in Barrick Mining by 10,194.1% in the 1st quarter. Auto Owners Insurance Co now owns 1,050,000 shares of the gold and copper producer’s stock valued at $20,412,000 after buying an additional 1,039,800 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barrick Mining Trading Up 2.9%

B opened at $33.72 on Thursday. The firm’s fifty day moving average is $26.88 and its two-hundred day moving average is $22.23. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.53 and a current ratio of 3.21. The firm has a market cap of $57.42 billion, a PE ratio of 21.21, a price-to-earnings-growth ratio of 0.54 and a beta of 0.30. Barrick Mining Corporation has a twelve month low of $15.11 and a twelve month high of $36.10.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its earnings results on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share for the quarter, hitting the consensus estimate of $0.47. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.60 billion. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The business’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period last year, the business posted $0.32 earnings per share. Equities research analysts anticipate that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.8%. Barrick Mining’s dividend payout ratio (DPR) is currently 37.74%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Bank of America boosted their target price on shares of Barrick Mining from $29.00 to $34.00 and gave the company a “neutral” rating in a research note on Friday, September 19th. Sanford C. Bernstein restated an “outperform” rating on shares of Barrick Mining in a research report on Wednesday, September 24th. Royal Bank Of Canada boosted their price target on shares of Barrick Mining from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. TD Securities boosted their target price on Barrick Mining from $30.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Finally, Zacks Research downgraded Barrick Mining from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Barrick Mining presently has an average rating of “Moderate Buy” and a consensus price target 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.