Korea Investment CORP Boosts Stake in Barrick Mining Corporation $B

Korea Investment CORP lifted its holdings in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 22.0% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,424,709 shares of the gold and copper producer’s stock after buying an additional 257,306 shares during the period. Korea Investment CORP owned approximately 0.08% of Barrick Mining worth $46,804,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Cary Street Partners Investment Advisory LLC increased its position in shares of Barrick Mining by 19.8% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 2,260 shares of the gold and copper producer’s stock valued at $74,000 after acquiring an additional 373 shares during the last quarter. Legend Financial Advisors Inc. boosted its position in Barrick Mining by 0.9% in the third quarter. Legend Financial Advisors Inc. now owns 45,139 shares of the gold and copper producer’s stock worth $1,479,000 after purchasing an additional 399 shares during the last quarter. Ascent Group LLC boosted its position in Barrick Mining by 2.9% in the third quarter. Ascent Group LLC now owns 14,514 shares of the gold and copper producer’s stock worth $476,000 after purchasing an additional 404 shares during the last quarter. Mesirow Financial Investment Management Inc. grew its stake in Barrick Mining by 1.1% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 36,792 shares of the gold and copper producer’s stock valued at $1,206,000 after purchasing an additional 410 shares during the period. Finally, Prospera Financial Services Inc grew its stake in Barrick Mining by 1.0% in the 3rd quarter. Prospera Financial Services Inc now owns 67,019 shares of the gold and copper producer’s stock valued at $2,196,000 after purchasing an additional 643 shares during the period. 90.82% of the stock is owned by institutional investors.

Barrick Mining Stock Performance

Shares of B opened at $45.40 on Monday. Barrick Mining Corporation has a 52-week low of $17.00 and a 52-week high of $54.69. The stock’s 50-day simple moving average is $47.86 and its 200 day simple moving average is $39.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.33 and a current ratio of 2.92. The stock has a market capitalization of $76.06 billion, a price-to-earnings ratio of 15.49, a price-to-earnings-growth ratio of 1.42 and a beta of 0.41.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $5.15 billion. The firm’s revenue was up 44.6% on a year-over-year basis. Research analysts forecast 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 will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, February 27th. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.18. Barrick Mining’s payout ratio is 57.34%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Citigroup lifted their target price on Barrick Mining from $38.00 to $48.00 and gave the stock a “neutral” rating in a research note on Monday, February 9th. UBS Group set a $55.00 price target on shares of Barrick Mining in a research report on Friday, February 6th. BNP Paribas Exane upgraded shares of Barrick Mining to a “neutral” rating and set a $50.00 price objective for the company in a report on Friday, December 5th. Scotiabank lifted their price objective on shares of Barrick Mining from $43.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Finally, ATB Cormark Capital Markets upgraded shares of Barrick Mining to a “moderate buy” rating in a research note on Monday, February 9th. Two 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $55.25.

Barrick Mining 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.