Korea Investment CORP Boosts Stake in Barrick Mining Corporation $B

Korea Investment CORP boosted 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 acquiring an additional 257,306 shares during the quarter. Korea Investment CORP’s holdings in Barrick Mining were worth $46,804,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Barrick Mining by 1.1% during the third quarter. Vanguard Group Inc. now owns 70,878,168 shares of the gold and copper producer’s stock worth $2,327,991,000 after purchasing an additional 767,544 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Barrick Mining in the second quarter worth approximately $1,091,122,000. TD Asset Management Inc raised its stake in Barrick Mining by 3.8% in the third quarter. TD Asset Management Inc now owns 19,309,335 shares of the gold and copper producer’s stock valued at $634,346,000 after purchasing an additional 715,151 shares in the last quarter. CIBC Asset Management Inc raised its stake in Barrick Mining by 316.0% in the third 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 purchasing an additional 13,891,886 shares in the last quarter. Finally, Geode Capital Management LLC bought a new stake in Barrick Mining during the second quarter valued at approximately $307,855,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Jefferies Financial Group reissued a “buy” rating and issued a $55.00 price target on shares of Barrick Mining in a report on Sunday, December 7th. Canaccord Genuity Group dropped their price objective on shares of Barrick Mining to $77.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. Citigroup increased their target price on Barrick Mining from $38.00 to $48.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. Raymond James Financial raised their price target on Barrick Mining from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Tuesday, November 25th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $71.00 price target on shares of Barrick Mining in a research note on Wednesday, February 4th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Barrick Mining has an average rating of “Moderate Buy” and an average target price of $55.25.

Barrick Mining Price Performance

B opened at $45.40 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 2.33. The stock’s 50 day simple moving average is $47.86 and its 200 day simple moving average is $39.47. The firm has a market cap of $76.06 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 1.42 and a beta of 0.41. Barrick Mining Corporation has a 1 year low of $17.00 and a 1 year high of $54.69.

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

Barrick Mining Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, February 27th. This represents a $1.68 dividend on an annualized basis and a yield of 3.7%. This is an increase from Barrick Mining’s previous quarterly dividend of $0.18. Barrick Mining’s dividend payout ratio (DPR) is currently 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.