MassMutual Private Wealth & Trust FSB Makes New $54,000 Investment in Barrick Mining Corporation $B

MassMutual Private Wealth & Trust FSB bought a new stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,581 shares of the gold and copper producer’s stock, valued at approximately $54,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Penserra Capital Management LLC lifted its holdings in shares of Barrick Mining by 1,919.0% in the 1st quarter. Penserra Capital Management LLC now owns 2,968 shares of the gold and copper producer’s stock valued at $56,000 after purchasing an additional 2,821 shares during the last quarter. Hedges Asset Management LLC purchased a new stake in shares of Barrick Mining in the 2nd quarter valued at about $1,249,000. Chemistry Wealth Management LLC purchased a new stake in shares of Barrick Mining in the 2nd quarter valued at about $246,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Barrick Mining by 14.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 73,636 shares of the gold and copper producer’s stock valued at $1,141,000 after purchasing an additional 9,149 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of Barrick Mining by 24.4% in the 1st quarter. Sequoia Financial Advisors LLC now owns 20,795 shares of the gold and copper producer’s stock valued at $404,000 after purchasing an additional 4,082 shares during the last quarter. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Mining Stock Performance

NYSE B opened at $32.99 on Friday. The company has a current ratio of 3.21, a quick ratio of 2.53 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $24.84 and its two-hundred day moving average is $21.40. Barrick Mining Corporation has a 12-month low of $15.11 and a 12-month high of $33.20. The stock has a market capitalization of $56.18 billion, a price-to-earnings ratio of 20.75, a PEG ratio of 0.58 and a beta of 0.28.

Barrick Mining (NYSE:B) (TSE:ABX) last released its earnings results on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.47. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The company had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.60 billion. During the same quarter in the previous year, the firm posted $0.32 EPS. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. Research analysts expect that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a dividend of $0.15 per share. The ex-dividend date was Friday, August 29th. This represents a $0.60 annualized dividend and a yield of 1.8%. Barrick Mining’s payout ratio is presently 37.74%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Scotiabank boosted their target price on Barrick Mining from $25.00 to $26.00 and gave the company a “sector perform” rating in a report on Wednesday, August 13th. Zacks Research cut Barrick Mining from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. CIBC upgraded Barrick Mining from a “neutral” rating to an “outperform” rating in a research report on Tuesday, August 12th. Royal Bank Of Canada set a $26.00 price target on Barrick Mining and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. Finally, Bank of America boosted their price target on Barrick Mining from $29.00 to $34.00 and gave the company a “neutral” rating in a research report on Friday. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Barrick Mining has a consensus rating of “Moderate Buy” and an average price target of $28.78.

Barrick Mining 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.