Recurrent Investment Advisors LLC Grows Stake in Barrick Mining Corporation $B

Recurrent Investment Advisors LLC raised its position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 6.5% in the third quarter, HoldingsChannel reports. The firm owned 229,763 shares of the gold and copper producer’s stock after acquiring an additional 13,958 shares during the period. Barrick Mining comprises about 0.6% of Recurrent Investment Advisors LLC’s investment portfolio, making the stock its 25th largest holding. Recurrent Investment Advisors LLC’s holdings in Barrick Mining were worth $7,529,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Arlington Trust Co LLC purchased a new position in shares of Barrick Mining during the third quarter valued at $26,000. Provenance Wealth Advisors LLC bought a new stake in shares of Barrick Mining in the third quarter valued at about $32,000. Wealth Preservation Advisors LLC purchased a new stake in Barrick Mining in the second quarter worth about $33,000. Investors Research Corp bought a new position in Barrick Mining during the 3rd quarter worth about $36,000. Finally, CENTRAL TRUST Co bought a new position in Barrick Mining during the 2nd quarter worth about $37,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Mining Stock Performance

Shares of Barrick Mining stock opened at $44.50 on Friday. The company has a market capitalization of $74.55 billion, a PE ratio of 15.19, a P/E/G ratio of 1.42 and a beta of 0.41. The company has a 50-day simple moving average of $47.99 and a two-hundred day simple moving average of $39.83. Barrick Mining Corporation has a one year low of $17.00 and a one year high of $54.69. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.33 and a current ratio of 2.92.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings results on Thursday, February 5th. The gold and copper producer reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.19. Barrick Mining had a net margin of 29.45% and a return on equity of 12.10%. The business had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $5.15 billion. The firm’s quarterly revenue was up 44.6% compared to the same quarter last year. Research analysts expect that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, February 27th. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.18. This represents a $1.68 dividend on an annualized basis and a yield of 3.8%. Barrick Mining’s dividend payout ratio is currently 57.34%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Canadian Imperial Bank of Commerce restated an “outperform” rating and issued a $71.00 price target on shares of Barrick Mining in a report on Wednesday, February 4th. Zacks Research downgraded shares of Barrick Mining from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 13th. Canaccord Genuity Group cut their price objective on shares of Barrick Mining to $77.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. Scotiabank boosted their price objective on shares of Barrick Mining from $43.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Finally, JPMorgan Chase & Co. initiated coverage on Barrick Mining in a report on Thursday, January 29th. They set an “overweight” rating and a $68.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.25.

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.