Engineers Gate Manager LP Raises Position in Barrick Mining Corporation $B

Engineers Gate Manager LP grew its stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 17.5% during the second quarter, Holdings Channel reports. The firm owned 490,619 shares of the gold and copper producer’s stock after purchasing an additional 73,226 shares during the period. Engineers Gate Manager LP’s holdings in Barrick Mining were worth $18,020,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Williamson Legacy Group LLC purchased a new stake in shares of Barrick Mining in the fourth quarter valued at about $1,315,000. Great Diamond Partners LLC purchased a new position in Barrick Mining during the fourth quarter worth about $2,393,000. Erste Asset Management GmbH boosted its holdings in Barrick Mining by 146.9% during the fourth quarter. Erste Asset Management GmbH now owns 43,700 shares of the gold and copper producer’s stock worth $1,911,000 after purchasing an additional 26,000 shares during the last quarter. GeoSphere Capital Management LLC bought a new stake in Barrick Mining in the 4th quarter worth about $1,960,000. Finally, Hillsdale Investment Management Inc. grew its position in Barrick Mining by 7.2% in the 4th quarter. Hillsdale Investment Management Inc. now owns 1,165,501 shares of the gold and copper producer’s stock worth $50,861,000 after purchasing an additional 78,750 shares in the last quarter. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Barrick Mining Trading Up 1.0%

Shares of B stock opened at $44.54 on Thursday. The stock has a market capitalization of $73.31 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 1.26 and a beta of 0.51. The company’s fifty day simple moving average is $40.60 and its two-hundred day simple moving average is $41.41. Barrick Mining Corporation has a 1 year low of $28.38 and a 1 year high of $54.69. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.01 and a quick ratio of 2.36.

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

Barrick Mining Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Sanford C. Bernstein decreased their price objective on shares of Barrick Mining from $61.00 to $56.50 and set an “outperform” rating for the company in a research note on Wednesday. Weiss Ratings restated a “buy (b-)” rating on shares of Barrick Mining in a research note on Friday, August 7th. Canadian Imperial Bank of Commerce set a $57.00 target price on Barrick Mining in a report on Wednesday, August 12th. Wall Street Zen downgraded Barrick Mining from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Barclays lifted their price target on Barrick Mining from $39.00 to $42.00 and gave the stock an “equal weight” rating in a report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.63.

Barrick Mining Profile

Barrick Mining Corporation, formerly known as Barrick Gold Corporation, is a global mining company focused primarily on the production of gold and copper. Its activities include the exploration, development, construction and operation of mines, as well as processing ore into refined metal products.

The company operates and holds interests in mining assets across several regions, including North America, South America, Africa, the Middle East and Papua New Guinea. Its portfolio includes gold operations such as Nevada Gold Mines in the United States, Pueblo Viejo in the Dominican Republic, Veladero in Argentina, Kibali in the Democratic Republic of the Congo, and North Mara and Bulyanhulu in Tanzania.