Charles Schwab Investment Management Inc. Purchases Shares of 5,336,971 Barrick Mining Corporation $B

Charles Schwab Investment Management Inc. acquired a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,336,971 shares of the gold and copper producer’s stock, valued at approximately $110,898,000. Charles Schwab Investment Management Inc. owned 0.31% of Barrick Mining as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vermillion Wealth Management Inc. bought a new stake in shares of Barrick Mining in the 2nd quarter valued at approximately $25,000. Crowley Wealth Management Inc. acquired a new stake in Barrick Mining in the 2nd quarter valued at $26,000. Concord Wealth Partners acquired a new stake in Barrick Mining in the 2nd quarter valued at $26,000. Ameriflex Group Inc. bought a new stake in Barrick Mining in the second quarter valued at $27,000. Finally, Trifecta Capital Advisors LLC acquired a new position in Barrick Mining during the second quarter worth $27,000. Institutional investors own 90.82% of the company’s stock.

Barrick Mining Stock Up 4.7%

NYSE:B opened at $40.97 on Friday. The company has a quick ratio of 2.53, a current ratio of 3.21 and a debt-to-equity ratio of 0.14. Barrick Mining Corporation has a 12-month low of $15.11 and a 12-month high of $41.08. The stock’s fifty day simple moving average is $34.48 and its 200-day simple moving average is $26.64. The firm has a market capitalization of $69.14 billion, a P/E ratio of 25.77, a P/E/G ratio of 0.40 and a beta of 0.28.

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

Barrick Mining Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be paid a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 1.7%. 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. Barrick Mining’s payout ratio is 33.82%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. National Bankshares raised Barrick Mining to an “outperform” rating in a report on Monday, September 22nd. Canaccord Genuity Group lifted their price target on shares of Barrick Mining from $39.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Scotiabank upgraded shares of Barrick Mining from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $27.50 to $43.00 in a research report on Thursday, October 23rd. Cormark raised shares of Barrick Mining from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 11th. Finally, Wall Street Zen cut shares of Barrick Mining from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $44.78.

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.