Assenagon Asset Management S.A. Acquires 1,897,348 Shares of Barrick Mining Corporation $B

Assenagon Asset Management S.A. grew its stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 78.8% in the third quarter, Holdings Channel reports. The firm owned 4,305,601 shares of the gold and copper producer’s stock after acquiring an additional 1,897,348 shares during the period. Assenagon Asset Management S.A.’s holdings in Barrick Mining were worth $141,096,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Hardin Capital Partners LLC bought a new stake in Barrick Mining during the 3rd quarter valued at about $206,000. Moody National Bank Trust Division purchased a new position in Barrick Mining during the 3rd quarter worth $363,000. Grove Bank & Trust bought a new stake in Barrick Mining during the 3rd quarter valued at $41,000. Investors Research Corp purchased a new stake in shares of Barrick Mining in the 3rd quarter worth $36,000. Finally, Corient Private Wealth LLC bought a new position in shares of Barrick Mining during the 2nd quarter worth $567,000. 90.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on B. Raymond James Financial lifted their price objective on Barrick Mining from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Tuesday, November 25th. Scotiabank upgraded shares of Barrick Mining from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $27.50 to $43.00 in a report on Thursday, October 23rd. TD Securities increased their price objective on shares of Barrick Mining from $38.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Barrick Mining in a report on Monday. Finally, Zacks Research lowered Barrick Mining from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 21st. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Barrick Mining presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.17.

Barrick Mining Stock Down 0.9%

Shares of B stock opened at $42.94 on Wednesday. The stock’s fifty day moving average price is $36.54 and its 200 day moving average price is $28.88. Barrick Mining Corporation has a 1-year low of $15.11 and a 1-year high of $44.25. The company has a market cap of $72.29 billion, a price-to-earnings ratio of 20.74, a price-to-earnings-growth ratio of 0.45 and a beta of 0.40. 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 quarterly earnings results on Monday, November 10th. The gold and copper producer reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The company had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.20 billion. Barrick Mining had a return on equity of 9.48% and a net margin of 24.53%.The firm’s revenue was up 23.2% compared to the same quarter last year. During the same period last year, the business posted $0.09 earnings per share. On average, research analysts expect that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were given a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, November 28th. This is an increase from Barrick Mining’s previous quarterly dividend of $0.15. Barrick Mining’s payout ratio is 33.82%.

About Barrick Mining

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.
 
In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.