Cerity Partners LLC Acquires 44,002 Shares of Barrick Mining Corporation (NYSE:B)

Cerity Partners LLC increased its holdings in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 47.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 136,786 shares of the gold and copper producer’s stock after buying an additional 44,002 shares during the period. Cerity Partners LLC’s holdings in Barrick Mining were worth $2,659,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Penserra Capital Management LLC increased its position in shares of Barrick Mining by 1,919.0% in the first quarter. Penserra Capital Management LLC now owns 2,968 shares of the gold and copper producer’s stock worth $56,000 after purchasing an additional 2,821 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Barrick Mining by 14.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 73,636 shares of the gold and copper producer’s stock worth $1,141,000 after purchasing an additional 9,149 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Barrick Mining by 24.4% in the first quarter. Sequoia Financial Advisors LLC now owns 20,795 shares of the gold and copper producer’s stock worth $404,000 after purchasing an additional 4,082 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Barrick Mining by 25.9% in the first quarter. Janney Montgomery Scott LLC now owns 291,281 shares of the gold and copper producer’s stock worth $5,663,000 after purchasing an additional 59,906 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Barrick Mining in the fourth quarter worth approximately $19,505,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Barrick Mining Stock Down 0.4%

Shares of Barrick Mining stock opened at $20.72 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.16 and a current ratio of 2.87. The stock has a market capitalization of $35.35 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 0.33 and a beta of 0.28. The company has a 50-day simple moving average of $20.17 and a two-hundred day simple moving average of $18.78. Barrick Mining Corporation has a 52-week low of $17.41 and a 52-week high of $47.50.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.06. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Barrick Mining had a return on equity of 7.51% and a net margin of 17.46%. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period last year, the firm posted $0.19 earnings per share. On average, analysts anticipate that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend was Friday, May 30th. Barrick Mining’s dividend payout ratio is currently 30.08%.

Wall Street Analyst Weigh In

B has been the topic of a number of research reports. BMO Capital Markets assumed coverage on Barrick Mining in a report on Wednesday, April 16th. They set a “market perform” rating on the stock. Raymond James Financial boosted their target price on Barrick Mining from $23.00 to $23.50 and gave the company an “outperform” rating in a research note on Monday, March 31st. UBS Group lifted their target price on shares of Barrick Mining from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, April 11th. Citigroup decreased their target price on shares of Barrick Mining from $21.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, March 31st. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Barrick Mining in a research note on Wednesday, April 2nd. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $24.41.

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.