FORA Capital LLC Invests $4.58 Million in Barrick Mining Corporation $B

FORA Capital LLC acquired a new stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 139,762 shares of the gold and copper producer’s stock, valued at approximately $4,580,000. Barrick Mining comprises 0.8% of FORA Capital LLC’s holdings, making the stock its 24th biggest position.

Other hedge funds have also added to or reduced their stakes in the company. Arlington Trust Co LLC bought a new position in shares of Barrick Mining during the third quarter valued at $26,000. Provenance Wealth Advisors LLC bought a new stake in shares of Barrick Mining in the third quarter worth $32,000. Wealth Preservation Advisors LLC bought a new stake in shares of Barrick Mining in the second quarter worth $33,000. Investors Research Corp acquired a new stake in Barrick Mining in the third quarter valued at $36,000. Finally, CENTRAL TRUST Co acquired a new stake in Barrick Mining in the second quarter valued at $37,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Scotiabank lifted their target price on Barrick Mining from $43.00 to $63.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Raymond James Financial increased their price target on Barrick Mining from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday, November 25th. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $71.00 price objective on shares of Barrick Mining in a research report on Wednesday, February 4th. Citigroup upped their target price on Barrick Mining from $38.00 to $48.00 and gave the company a “neutral” rating in a report on Monday, February 9th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Barrick Mining in a research report on Thursday, January 29th. They set an “overweight” rating and a $68.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.25.

Barrick Mining Stock Performance

Shares of B opened at $42.31 on Friday. The company has a current ratio of 2.92, a quick ratio of 2.33 and a debt-to-equity ratio of 0.13. The firm’s fifty day simple moving average is $47.96 and its two-hundred day simple moving average is $39.94. Barrick Mining Corporation has a 12 month low of $17.00 and a 12 month high of $54.69. The stock has a market capitalization of $70.88 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 1.39 and a beta of 0.41.

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, topping 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 during the quarter, compared to analyst estimates of $5.15 billion. The firm’s revenue for the quarter was up 44.6% on a year-over-year basis. As a group, analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.0%. This is a boost from Barrick Mining’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Friday, February 27th. Barrick Mining’s payout ratio is presently 57.34%.

Barrick Mining Company 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.