Y Intercept Hong Kong Ltd Acquires New Stake in Barrick Mining Corporation $B

Y Intercept Hong Kong Ltd purchased a new stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 3rd quarter, HoldingsChannel reports. The fund purchased 116,735 shares of the gold and copper producer’s stock, valued at approximately $3,825,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. acquired a new position in Barrick Mining during the second quarter worth about $1,459,633,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Barrick Mining during the 2nd quarter valued at about $1,091,122,000. First Eagle Investment Management LLC acquired a new position in shares of Barrick Mining in the 2nd quarter worth approximately $822,056,000. TD Asset Management Inc acquired a new position in shares of Barrick Mining in the 2nd quarter worth approximately $386,328,000. Finally, Ninety One UK Ltd bought a new stake in shares of Barrick Mining in the 2nd quarter worth approximately $326,862,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Zacks Research cut shares of Barrick Mining from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 13th. Bank of America raised Barrick Mining from a “neutral” rating to a “buy” rating and upped their target price for the company from $38.00 to $48.00 in a report on Monday, November 24th. DZ Bank upgraded Barrick Mining to a “strong-buy” rating in a research report on Monday, January 19th. Citigroup raised shares of Barrick Mining from a “hold” rating to a “buy” rating in a research report on Monday, November 24th. Finally, BNP Paribas Exane upgraded Barrick Mining to a “neutral” rating and set a $50.00 target price for the company in a report on Friday, December 5th. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Barrick Mining has a consensus rating of “Buy” and an average price target of $46.91.

Barrick Mining Stock Performance

Shares of B opened at $51.04 on Monday. The company has a market capitalization of $85.50 billion, a PE ratio of 24.65, a PEG ratio of 0.44 and a beta of 0.41. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.33 and a current ratio of 2.94. The company’s 50 day moving average price is $43.98 and its 200 day moving average price is $34.00. Barrick Mining Corporation has a 52 week low of $15.70 and a 52 week high of $51.09.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its earnings results on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Barrick Mining had a net margin of 24.53% and a return on equity of 9.48%. The company had revenue of $4.19 billion during the quarter, compared to analyst estimates of $4.20 billion. During the same quarter last year, the business posted $0.09 EPS. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. Research analysts expect that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were given a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Friday, November 28th. This is an increase from Barrick Mining’s previous quarterly dividend of $0.15. Barrick Mining’s payout ratio is currently 33.82%.

About Barrick Mining

Barrick Gold Corporation, commonly known as Barrick, is a Toronto?headquartered mining company focused on the exploration, development, production and sale of gold and copper. Listed on major exchanges (including the New York Stock Exchange under the symbol B), Barrick operates as an integrated minerals producer, running large?scale mining complexes, processing facilities and related support services for extraction and metallurgical treatment of ore.

The company’s activities span the full mining value chain: greenfield exploration, feasibility and permitting, mine construction, ongoing operations, and closure and reclamation.