Oaktree Fund Advisors LLC Invests $3.99 Million in Barrick Mining Corporation $B

Oaktree Fund Advisors LLC purchased a new stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 191,394 shares of the gold and copper producer’s stock, valued at approximately $3,985,000. Barrick Mining accounts for about 6.9% of Oaktree Fund Advisors LLC’s investment portfolio, making the stock its 6th biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Oaktree Capital Management LP bought a new position in shares of Barrick Mining in the second quarter valued at $65,743,000. Amundi bought a new stake in shares of Barrick Mining during the second quarter worth about $99,334,000. Baird Financial Group Inc. acquired a new stake in shares of Barrick Mining in the 2nd quarter worth about $2,569,000. Philadelphia Trust Co. bought a new position in Barrick Mining in the 2nd quarter valued at about $1,412,000. Finally, First Trust Advisors LP bought a new position in Barrick Mining in the 2nd quarter valued at about $857,000. Institutional investors own 90.82% of the company’s stock.

Barrick Mining Stock Performance

Shares of Barrick Mining stock opened at $40.90 on Friday. The business’s fifty day simple moving average is $35.20 and its 200 day simple moving average is $27.46. The company has a current ratio of 2.94, a quick ratio of 2.33 and a debt-to-equity ratio of 0.14. Barrick Mining Corporation has a 12 month low of $15.11 and a 12 month high of $43.08. The firm has a market capitalization of $69.02 billion, a P/E ratio of 19.76, a price-to-earnings-growth ratio of 0.42 and a beta of 0.40.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its earnings results on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.01. The firm had revenue of $4.19 billion during the quarter, compared to analyst estimates of $4.20 billion. Barrick Mining had a return on equity of 9.48% and a net margin of 24.53%.The business’s revenue was up 23.2% compared to the same quarter last year. During the same period last year, the firm posted $0.09 EPS. As a group, analysts anticipate that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be paid a $0.175 dividend. The ex-dividend date is Friday, November 28th. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.15. This represents a $0.70 dividend on an annualized basis and a yield of 1.7%. Barrick Mining’s dividend payout ratio is presently 33.82%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. BNP Paribas raised Barrick Mining to an “outperform” rating and set a $50.00 price objective for the company in a research note on Friday. Cowen reiterated a “buy” rating on shares of Barrick Mining in a report on Wednesday, November 26th. Weiss Ratings reissued a “buy (b)” rating on shares of Barrick Mining in a research report on Monday. Cormark upgraded Barrick Mining from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 11th. Finally, Scotiabank upgraded shares of Barrick Mining from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $27.50 to $43.00 in a research note on Thursday, October 23rd. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Barrick Mining presently has an average rating of “Buy” and a consensus price target of $46.10.

Barrick Mining Company Profile

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.