Acadian Asset Management LLC Acquires New Holdings in Barrick Mining Corporation $B

Acadian Asset Management LLC bought a new stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 98,900 shares of the gold and copper producer’s stock, valued at approximately $2,052,000.

Other large investors have also recently bought and sold shares of the company. Cerity Partners LLC grew its stake in shares of Barrick Mining by 47.4% in the 1st quarter. Cerity Partners LLC now owns 136,786 shares of the gold and copper producer’s stock worth $2,659,000 after purchasing an additional 44,002 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in Barrick Mining by 15.5% during the first quarter. New York State Common Retirement Fund now owns 194,806 shares of the gold and copper producer’s stock worth $3,787,000 after buying an additional 26,170 shares in the last quarter. Sigma Planning Corp grew its position in Barrick Mining by 22.2% in the first quarter. Sigma Planning Corp now owns 14,127 shares of the gold and copper producer’s stock worth $275,000 after buying an additional 2,567 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Barrick Mining by 0.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 287,668 shares of the gold and copper producer’s stock valued at $5,592,000 after buying an additional 1,035 shares in the last quarter. Finally, Wealthfront Advisers LLC acquired a new stake in shares of Barrick Mining during the 1st quarter valued at $277,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barrick Mining Stock Up 1.6%

B stock opened at $37.00 on Friday. Barrick Mining Corporation has a fifty-two week low of $15.11 and a fifty-two week high of $37.73. The company has a market capitalization of $62.43 billion, a price-to-earnings ratio of 23.27, a price-to-earnings-growth ratio of 0.40 and a beta of 0.28. The business’s 50 day moving average price is $32.84 and its two-hundred day moving average price is $25.47. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.53 and a current ratio of 3.21.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings results on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.01. The company had revenue of $4.19 billion during the quarter, compared to analyst estimates of $4.20 billion. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. Barrick Mining’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period last year, the business earned $0.09 EPS. As a group, analysts forecast that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 1.9%. This is a boost from Barrick Mining’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, November 28th. Barrick Mining’s payout ratio is 33.82%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on B. Cormark raised Barrick Mining from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 11th. CIBC boosted their price objective on Barrick Mining from $38.00 to $50.00 and gave the stock an “outperformer” rating in a report on Friday, October 10th. Bank of America raised their target price on shares of Barrick Mining from $36.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. BMO Capital Markets reissued a “market perform” rating on shares of Barrick Mining in a research note on Monday, September 22nd. Finally, Raymond James Financial set a $40.00 price target on Barrick Mining and gave the company an “outperform” rating in a report on Friday, October 10th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.90.

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.