Assenagon Asset Management S.A. Acquires 1,897,348 Shares of Barrick Mining Corporation $B

Assenagon Asset Management S.A. grew its holdings in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 78.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,305,601 shares of the gold and copper producer’s stock after acquiring an additional 1,897,348 shares during the period. Assenagon Asset Management S.A. owned about 0.25% of Barrick Mining worth $141,096,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Fiduciary Financial Group LLC purchased a new position in Barrick Mining in the 2nd quarter worth approximately $352,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Barrick Mining in the second quarter worth $464,000. Fractal Investments LLC bought a new position in shares of Barrick Mining during the second quarter worth $341,000. Hedges Asset Management LLC purchased a new position in Barrick Mining during the second quarter valued at $1,249,000. Finally, Parallel Advisors LLC bought a new stake in Barrick Mining in the 2nd quarter valued at $76,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Barrick Mining Trading Down 0.9%

B stock opened at $42.94 on Wednesday. Barrick Mining Corporation has a twelve month low of $15.11 and a twelve month high of $44.25. The stock has a market capitalization of $72.29 billion, a price-to-earnings ratio of 20.74, a price-to-earnings-growth ratio of 0.45 and a beta of 0.40. The company has a quick ratio of 2.33, a current ratio of 2.94 and a debt-to-equity ratio of 0.14. The firm’s fifty day simple moving average is $36.54 and its two-hundred day simple moving average is $28.88.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings results on Monday, November 10th. The gold and copper producer reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. The firm had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.20 billion. Barrick Mining had a net margin of 24.53% and a return on equity of 9.48%. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.09 EPS. As a group, analysts anticipate that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were paid a dividend of $0.175 per share. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.15. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, November 28th. Barrick Mining’s payout ratio is currently 33.82%.

Wall Street Analysts Forecast Growth

Several research firms have commented on B. BNP Paribas raised shares of Barrick Mining to a “neutral” rating and set a $50.00 price objective for the company in a report on Friday, December 5th. National Bankshares raised Barrick Mining to an “outperform” rating in a research note on Monday, September 22nd. Raymond James Financial lifted their price objective on Barrick Mining from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 25th. Canaccord Genuity Group upped their price objective on Barrick Mining from $39.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Finally, TD Securities raised their target price on shares of Barrick Mining from $38.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $47.17.

Barrick Mining Profile

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.