Ninepoint Partners LP Invests $17.03 Million in Barrick Mining Corporation $B

Ninepoint Partners LP acquired a new position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 463,708 shares of the gold and copper producer’s stock, valued at approximately $17,032,000. Barrick Mining comprises approximately 1.3% of Ninepoint Partners LP’s portfolio, making the stock its 14th largest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Van ECK Associates Corp grew its position in Barrick Mining by 22.8% in the 4th quarter. Van ECK Associates Corp now owns 55,423,240 shares of the gold and copper producer’s stock worth $2,413,699,000 after purchasing an additional 10,287,544 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of Barrick Mining by 10.9% in the first quarter. Royal Bank of Canada now owns 39,598,520 shares of the gold and copper producer’s stock valued at $1,615,225,000 after buying an additional 3,881,841 shares during the period. FIL Ltd lifted its stake in shares of Barrick Mining by 85.3% in the fourth quarter. FIL Ltd now owns 30,099,422 shares of the gold and copper producer’s stock valued at $1,311,169,000 after buying an additional 13,853,587 shares during the period. Mackenzie Financial Corp lifted its stake in shares of Barrick Mining by 61.9% in the fourth quarter. Mackenzie Financial Corp now owns 20,591,745 shares of the gold and copper producer’s stock valued at $909,104,000 after buying an additional 7,870,411 shares during the period. Finally, TD Asset Management Inc grew its position in Barrick Mining by 5.6% during the fourth quarter. TD Asset Management Inc now owns 20,395,667 shares of the gold and copper producer’s stock worth $889,627,000 after buying an additional 1,086,332 shares in the last quarter. Institutional investors own 90.82% of the company’s stock.

Barrick Mining Stock Performance

Shares of NYSE:B opened at $46.34 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.01 and a quick ratio of 2.36. The business’s fifty day moving average price is $38.70 and its two-hundred day moving average price is $41.53. Barrick Mining Corporation has a fifty-two week low of $24.89 and a fifty-two week high of $54.69. The stock has a market capitalization of $76.27 billion, a price-to-earnings ratio of 11.94, a price-to-earnings-growth ratio of 0.87 and a beta of 0.47.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings results on Monday, August 10th. The gold and copper producer reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.01. The firm had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $5.10 billion. Barrick Mining had a net margin of 31.60% and a return on equity of 16.02%. The firm’s quarterly revenue was up 43.8% on a year-over-year basis. During the same period last year, the firm posted $0.47 EPS. As a group, analysts predict that Barrick Mining Corporation will post 3.52 EPS for the current fiscal year.

Barrick Mining Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a dividend of $0.175 per share. The ex-dividend date is Monday, August 31st. This represents a $0.70 dividend on an annualized basis and a yield of 1.5%. Barrick Mining’s dividend payout ratio is 18.04%.

Analyst Upgrades and Downgrades

B has been the topic of a number of recent research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Barrick Mining in a research note on Friday, August 7th. TD reduced their price objective on shares of Barrick Mining from $61.00 to $59.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. Royal Bank Of Canada decreased their target price on shares of Barrick Mining from $51.00 to $49.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Citigroup reissued a “positive” rating on shares of Barrick Mining in a research note on Wednesday, July 15th. Finally, Scotiabank dropped their price target on shares of Barrick Mining from $57.00 to $55.00 and set an “outperform” rating for the company in a research report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $52.57.

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.