Balboa Wealth Partners Takes $855,000 Position in Barrick Mining Corporation $B

Balboa Wealth Partners purchased a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 26,085 shares of the gold and copper producer’s stock, valued at approximately $855,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of B. Vanguard Group Inc. acquired a new stake in Barrick Mining during the second quarter valued at approximately $1,459,633,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Barrick Mining in the 2nd quarter worth approximately $1,091,122,000. First Eagle Investment Management LLC bought a new stake in shares of Barrick Mining in the 2nd quarter valued at approximately $822,056,000. CIBC Asset Management Inc raised its position in shares of 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 valued at $601,115,000 after acquiring an additional 13,891,886 shares in the last quarter. Finally, Geode Capital Management LLC acquired a new stake in shares of Barrick Mining during the 2nd quarter valued at approximately $307,855,000. 90.82% of the stock is owned by institutional investors.

Barrick Mining Trading Up 5.7%

Shares of NYSE:B opened at $47.99 on Friday. 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 company’s 50-day moving average price is $46.50 and its 200 day moving average price is $36.61. The company has a market cap of $80.40 billion, a PE ratio of 16.38, a P/E/G ratio of 0.37 and a beta of 0.40. Barrick Mining Corporation has a fifty-two week low of $17.00 and a fifty-two week high of $54.69.

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, topping the consensus estimate of $0.85 by $0.19. Barrick Mining had a net margin of 29.45% and a return on equity of 12.10%. The firm had revenue of $5.98 billion during the quarter, compared to analysts’ expectations of $5.15 billion. The business’s revenue for the quarter was up 44.6% on a year-over-year basis. Sell-side 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 disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be issued a $0.42 dividend. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.68 dividend on an annualized basis and a yield of 3.5%. Barrick Mining’s dividend payout ratio is currently 57.34%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on B shares. JPMorgan Chase & Co. assumed coverage on shares of Barrick Mining in a research note on Thursday, January 29th. They set an “overweight” rating and a $68.00 target price for the company. Zacks Research lowered shares of Barrick Mining from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 13th. TD Cowen reiterated a “buy” rating on shares of Barrick Mining in a research note on Wednesday, November 26th. Royal Bank Of Canada raised their target price on shares of Barrick Mining from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, October 27th. Finally, 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. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $53.58.

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.