Drummond Knight Asset Management Pty Ltd Makes New $39.49 Million Investment in Barrick Mining Corporation $B

Drummond Knight Asset Management Pty Ltd purchased a new stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the third quarter, HoldingsChannel reports. The fund purchased 1,205,000 shares of the gold and copper producer’s stock, valued at approximately $39,488,000. Barrick Mining comprises 12.1% of Drummond Knight Asset Management Pty Ltd’s holdings, making the stock its 2nd largest holding.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. purchased a new position in Barrick Mining in the 2nd quarter worth approximately $1,459,633,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Barrick Mining during the second quarter valued at approximately $696,000. Philadelphia Trust Co. purchased a new position in shares of Barrick Mining in the second quarter worth $1,412,000. Cadence Wealth Management LLC purchased a new position in shares of Barrick Mining in the second quarter worth $1,112,000. Finally, Hillsdale Investment Management Inc. bought a new position in shares of Barrick Mining during the second quarter worth $30,641,000. Institutional investors own 90.82% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on B shares. Cowen reiterated a “buy” rating on shares of Barrick Mining in a report on Wednesday, November 26th. Wall Street Zen cut Barrick Mining from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. National Bank Financial upgraded Barrick Mining from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 22nd. Scotiabank upgraded Barrick Mining from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $27.50 to $43.00 in a report on Thursday, October 23rd. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Barrick Mining in a research note on Monday, September 22nd. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $47.17.

Barrick Mining Trading Up 0.2%

Shares of B stock opened at $45.67 on Wednesday. The company has a market cap of $76.90 billion, a PE ratio of 22.06, a price-to-earnings-growth ratio of 0.47 and a beta of 0.40. Barrick Mining Corporation has a 1 year low of $15.31 and a 1 year high of $46.45. The stock’s 50 day simple moving average is $37.68 and its two-hundred day simple moving average is $29.75. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.94 and a quick ratio of 2.33.

Barrick Mining (NYSE:B) (TSE:ABX) last released its earnings results on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.01. Barrick Mining had a return on equity of 9.48% and a net margin of 24.53%.The firm had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $4.20 billion. During the same quarter in the previous year, the company posted $0.09 EPS. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. Research 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 announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were paid a $0.175 dividend. This is an increase from Barrick Mining’s previous quarterly dividend of $0.15. This represents a $0.70 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, November 28th. Barrick Mining’s payout ratio is currently 33.82%.

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.