Drummond Knight Asset Management Pty Ltd Boosts Stake in Barrick Mining Corporation $B

Drummond Knight Asset Management Pty Ltd lifted its stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 14.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,384,920 shares of the gold and copper producer’s stock after purchasing an additional 179,920 shares during the period. Barrick Mining accounts for approximately 16.9% of Drummond Knight Asset Management Pty Ltd’s holdings, making the stock its 2nd largest holding. Drummond Knight Asset Management Pty Ltd owned about 0.08% of Barrick Mining worth $60,313,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nisa Investment Advisors LLC bought a new position in shares of Barrick Mining in the 4th quarter worth $35,000. Lodestone Wealth Management LLC bought a new position in shares of Barrick Mining in the 4th quarter worth $35,000. Arlington Trust Co LLC bought a new position in Barrick Mining during the third quarter worth about $26,000. JPL Wealth Management LLC bought a new position in Barrick Mining during the third quarter worth about $28,000. Finally, Pin Oak Investment Advisors Inc. bought a new position in Barrick Mining during the third quarter worth about $31,000. 90.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on B. Weiss Ratings reiterated a “buy (b)” rating on shares of Barrick Mining in a report on Friday, March 27th. UBS Group reduced their target price on Barrick Mining from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, March 27th. Citigroup lifted their target price on Barrick Mining from $38.00 to $48.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and set a $71.00 target price on shares of Barrick Mining in a report on Wednesday, February 4th. Finally, Canaccord Genuity Group reduced their target price on Barrick Mining to $77.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $54.83.

Barrick Mining Stock Performance

B opened at $41.09 on Tuesday. The business’s 50-day moving average price is $45.08 and its two-hundred day moving average price is $41.43. Barrick Mining Corporation has a 1 year low of $17.00 and a 1 year high of $54.69. The company has a market capitalization of $68.85 billion, a price-to-earnings ratio of 14.02, a P/E/G ratio of 1.36 and a beta of 0.50. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 2.33.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.19. Barrick Mining had a return on equity of 12.10% and a net margin of 29.45%.The firm had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $5.15 billion. The business’s quarterly revenue was up 44.6% compared to the same quarter last year. Equities analysts expect 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 was paid on Monday, March 16th. Shareholders of record on Friday, February 27th were paid a $0.42 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $1.68 annualized dividend and a dividend yield of 4.1%. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.18. Barrick Mining’s dividend payout ratio (DPR) is 57.34%.

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.