Allianz SE Buys Shares of 2,194,772 Barrick Mining Corporation $B

Allianz SE 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 SEC. The institutional investor purchased 2,194,772 shares of the gold and copper producer’s stock, valued at approximately $45,600,000. Barrick Mining accounts for approximately 1.1% of Allianz SE’s holdings, making the stock its 18th largest position. Allianz SE owned 0.13% of Barrick Mining as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Hedges Asset Management LLC purchased a new stake in Barrick Mining during the second quarter worth about $1,249,000. Chemistry Wealth Management LLC acquired a new position in shares of Barrick Mining in the second quarter valued at approximately $246,000. First Eagle Investment Management LLC acquired a new position in shares of Barrick Mining in the second quarter valued at approximately $822,056,000. Keybank National Association OH purchased a new stake in Barrick Mining during the 2nd quarter worth approximately $362,000. Finally, Sigma Planning Corp acquired a new stake in Barrick Mining during the 2nd quarter worth approximately $1,306,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Barrick Mining Stock Performance

Shares of B opened at $37.35 on Thursday. The company has a market capitalization of $63.03 billion, a price-to-earnings ratio of 23.49, a price-to-earnings-growth ratio of 0.40 and a beta of 0.28. Barrick Mining Corporation has a 52-week low of $15.11 and a 52-week high of $37.60. The company has a quick ratio of 2.53, a current ratio of 3.21 and a debt-to-equity ratio of 0.14. The stock has a 50 day moving average price of $32.49 and a 200 day moving average price of $25.22.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings data on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The company had revenue of $4.19 billion for the quarter, compared to analysts’ expectations of $4.20 billion. During the same quarter last year, the company earned $0.09 earnings per share. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. Research analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be issued a dividend of $0.175 per share. The ex-dividend date of this dividend is Friday, November 28th. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.15. This represents a $0.70 annualized dividend and a dividend yield of 1.9%. Barrick Mining’s dividend payout ratio is 37.74%.

Analysts Set New Price Targets

Several research firms have commented on B. Sanford C. Bernstein restated an “outperform” rating on shares of Barrick Mining in a research note on Wednesday, September 24th. BMO Capital Markets reiterated a “market perform” rating on shares of Barrick Mining in a report on Monday, September 22nd. UBS Group upped their price target on Barrick Mining from $35.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Canaccord Genuity Group increased their price target on Barrick Mining from $39.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Finally, Royal Bank Of Canada boosted their price objective on Barrick Mining from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.90.

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.