Oaktree Capital Management LP Raises Stock Position in Barrick Mining Corporation $B

Oaktree Capital Management LP grew its holdings in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 4.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,302,086 shares of the gold and copper producer’s stock after acquiring an additional 144,400 shares during the period. Barrick Mining accounts for about 0.9% of Oaktree Capital Management LP’s portfolio, making the stock its 11th largest position. Oaktree Capital Management LP’s holdings in Barrick Mining were worth $108,209,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Arlington Trust Co LLC purchased a new position in Barrick Mining in the 3rd quarter worth approximately $26,000. Provenance Wealth Advisors LLC purchased a new stake in Barrick Mining during the 3rd quarter valued at approximately $32,000. Wealth Preservation Advisors LLC purchased a new stake in Barrick Mining during the 2nd quarter valued at approximately $33,000. Investors Research Corp bought a new stake in shares of Barrick Mining during the third quarter valued at approximately $36,000. Finally, CENTRAL TRUST Co bought a new stake in shares of Barrick Mining during the second quarter valued at approximately $37,000. Institutional investors own 90.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on B shares. Citigroup upped their target price on shares of Barrick Mining from $38.00 to $48.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. TD Cowen reiterated a “buy” rating on shares of Barrick Mining in a research note on Wednesday, November 26th. Bank of America raised shares of Barrick Mining from a “neutral” rating to a “buy” rating and increased their price objective for the company from $38.00 to $48.00 in a report on Monday, November 24th. Zacks Research lowered Barrick Mining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 13th. Finally, ATB Cormark Capital Markets upgraded Barrick Mining to a “moderate buy” rating in a research report on Monday, February 9th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.25.

Barrick Mining Trading Down 2.3%

B traded down $1.02 during trading on Friday, reaching $43.47. The company had a trading volume of 1,735,194 shares, compared to its average volume of 15,574,347. The company has a quick ratio of 2.33, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The business has a 50 day simple moving average of $47.99 and a 200-day simple moving average of $39.83. The stock has a market cap of $72.83 billion, a P/E ratio of 14.81, a PEG ratio of 1.42 and a beta of 0.41. Barrick Mining Corporation has a 52 week low of $17.00 and a 52 week high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings data on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.19. Barrick Mining had a net margin of 29.45% and a return on equity of 12.10%. The business had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $5.15 billion. The company’s revenue for the quarter was up 44.6% compared to the same quarter last year. On average, equities analysts anticipate that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.9%. The ex-dividend date is Friday, February 27th. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.18. Barrick Mining’s payout ratio is currently 57.34%.

Barrick Mining Profile

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.