Sunpointe LLC Takes $1.02 Million Position in Barrick Mining Corporation $B

Sunpointe LLC acquired a new stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 30,994 shares of the gold and copper producer’s stock, valued at approximately $1,016,000.

Several other large investors have also added to or reduced their stakes in B. Envestnet Asset Management Inc. bought a new stake in shares of Barrick Mining during the second quarter valued at about $17,559,000. Keybank National Association OH bought a new position in shares of Barrick Mining in the second quarter valued at approximately $362,000. Sigma Planning Corp purchased a new position in Barrick Mining during the second quarter valued at approximately $1,306,000. Bank of New York Mellon Corp bought a new stake in Barrick Mining during the 2nd quarter worth approximately $33,811,000. Finally, Huntington National Bank purchased a new stake in Barrick Mining in the 2nd quarter worth approximately $286,000. Institutional investors own 90.82% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Bank of America upgraded shares of Barrick Mining from a “neutral” rating to a “buy” rating and boosted their price target for the company from $38.00 to $48.00 in a research report on Monday, November 24th. JPMorgan Chase & Co. assumed coverage on Barrick Mining in a research report on Thursday, January 29th. They set an “overweight” rating and a $68.00 target price for the company. Canadian Imperial Bank of Commerce restated an “outperform” rating and issued a $71.00 target price on shares of Barrick Mining in a research note on Wednesday, February 4th. UBS Group set a $55.00 price target on Barrick Mining in a research report on Friday, February 6th. Finally, DZ Bank upgraded shares of Barrick Mining to a “strong-buy” rating in a research report on Monday, January 19th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $55.25.

Barrick Mining Trading Down 3.0%

NYSE B opened at $45.35 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 stock’s 50-day simple moving average is $47.88 and its two-hundred day simple moving average is $39.11. Barrick Mining Corporation has a twelve month low of $17.00 and a twelve month high of $54.69. The company has a market capitalization of $75.98 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 1.46 and a beta of 0.41.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings data on Thursday, February 5th. The gold and copper producer reported $1.04 EPS for the quarter, beating the consensus estimate of $0.85 by $0.19. The firm had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.15 billion. Barrick Mining had a return on equity of 12.10% and a net margin of 29.45%.Barrick Mining’s revenue for the quarter was up 44.6% compared to the same quarter last year. Research analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Friday, February 27th. This is a boost from Barrick Mining’s previous quarterly dividend of $0.18. 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.