Spark Investment Management LLC Grows Stock Holdings in Barrick Mining Corporation $B

Spark Investment Management LLC boosted its holdings in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 31.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,000 shares of the gold and copper producer’s stock after purchasing an additional 12,000 shares during the period. Barrick Mining makes up approximately 3.6% of Spark Investment Management LLC’s holdings, making the stock its 7th biggest position. Spark Investment Management LLC’s holdings in Barrick Mining were worth $1,837,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. FIL Ltd boosted its stake in shares of Barrick Mining by 85.3% during the 4th quarter. FIL Ltd now owns 30,099,422 shares of the gold and copper producer’s stock worth $1,311,169,000 after acquiring an additional 13,853,587 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Barrick Mining by 22.8% during the fourth 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 period. Ameriprise Financial Inc. purchased a new stake in shares of Barrick Mining during the second quarter valued at $211,263,000. Canada Pension Plan Investment Board purchased a new stake in shares of Barrick Mining during the second quarter valued at $172,230,000. Finally, Mackenzie Financial Corp boosted its position in shares of Barrick Mining by 61.9% in the 4th quarter. Mackenzie Financial Corp now owns 20,591,745 shares of the gold and copper producer’s stock valued at $909,104,000 after purchasing an additional 7,870,411 shares during the period. Institutional investors and hedge funds own 90.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on Barrick Mining from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, August 14th. Bank of America decreased their target price on shares of Barrick Mining from $56.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. TD dropped their target price on shares of Barrick Mining from $61.00 to $59.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Weiss Ratings restated a “buy (b-)” rating on shares of Barrick Mining in a research report on Friday, August 7th. Finally, Royal Bank Of Canada decreased their price objective on shares of Barrick Mining from $51.00 to $49.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Barrick Mining presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.36.

Barrick Mining Stock Down 1.4%

Shares of NYSE B traded down $0.63 during mid-day trading on Tuesday, reaching $44.12. The company had a trading volume of 5,310,977 shares, compared to its average volume of 12,998,742. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.36 and a current ratio of 3.01. The company has a market capitalization of $72.62 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 1.28 and a beta of 0.51. The stock has a fifty day moving average of $40.44 and a two-hundred day moving average of $41.44. Barrick Mining Corporation has a 12-month low of $28.38 and a 12-month high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings data on Monday, August 10th. The gold and copper producer reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. Barrick Mining had a net margin of 31.60% and a return on equity of 16.02%. The firm had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $5.10 billion. During the same period in the previous year, the firm posted $0.47 earnings per share. The firm’s revenue was up 43.8% on a year-over-year basis. As a group, equities research analysts expect that Barrick Mining Corporation will post 3.56 EPS for the current year.

Barrick Mining Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Monday, August 31st. Barrick Mining’s payout ratio is currently 18.04%.

Barrick Mining Company 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.