Bridgefront Capital LLC Invests $739,000 in Barrick Mining Corporation $B

Bridgefront Capital LLC bought a new stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 22,558 shares of the gold and copper producer’s stock, valued at approximately $739,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. purchased a new position in shares of Barrick Mining during the second quarter worth $1,459,633,000. Measured Wealth Private Client Group LLC acquired a new position in Barrick Mining during the second quarter valued at $696,000. Philadelphia Trust Co. purchased a new stake in Barrick Mining in the second quarter valued at $1,412,000. CIBC Asset Management Inc grew its position in Barrick Mining by 316.0% during the 3rd quarter. CIBC Asset Management Inc now owns 18,287,558 shares of the gold and copper producer’s stock worth $601,115,000 after purchasing an additional 13,891,886 shares during the period. Finally, Cadence Wealth Management LLC acquired a new stake in Barrick Mining during the 2nd quarter worth about $1,112,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on B shares. JPMorgan Chase & Co. started coverage on Barrick Mining in a research note on Thursday, January 29th. They set an “overweight” rating and a $68.00 price objective for the company. UBS Group set a $55.00 target price on Barrick Mining in a report on Friday, February 6th. Wall Street Zen upgraded Barrick Mining from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 7th. Citigroup boosted their price target on Barrick Mining from $38.00 to $48.00 and gave the company a “neutral” rating in a report on Monday, February 9th. Finally, Canaccord Genuity Group lowered their price objective on Barrick Mining to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, February 18th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $55.25.

Barrick Mining Trading Down 4.9%

Shares of Barrick Mining stock opened at $42.31 on Monday. The firm has a 50-day simple moving average of $47.96 and a two-hundred day simple moving average of $40.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.33 and a current ratio of 2.92. Barrick Mining Corporation has a fifty-two week low of $17.00 and a fifty-two week high of $54.69. The company has a market cap of $70.88 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 1.32 and a beta of 0.41.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $5.15 billion. The firm’s revenue for the quarter was up 44.6% compared to the same quarter last year. As a group, equities analysts predict that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Increases Dividend

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