1832 Asset Management L.P. Acquires New Shares in Barrick Mining Corporation $B

1832 Asset Management L.P. bought a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 510,113 shares of the gold and copper producer’s stock, valued at approximately $10,621,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in B. Vermillion Wealth Management Inc. purchased 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 approximately $26,000. Concord Wealth Partners purchased a new stake in Barrick Mining in the second quarter valued at approximately $26,000. Ameriflex Group Inc. acquired a new position in Barrick Mining during the second quarter worth $27,000. Finally, Trifecta Capital Advisors LLC purchased a new position in shares of Barrick Mining during the second quarter worth $27,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Analyst Ratings Changes

B has been the topic of several research analyst reports. National Bankshares upgraded Barrick Mining to an “outperform” rating in a report on Monday, September 22nd. BMO Capital Markets reaffirmed a “market perform” rating on shares of Barrick Mining in a research report on Monday, September 22nd. Zacks Research lowered shares of Barrick Mining from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 21st. CIBC raised their price objective on shares of Barrick Mining from $38.00 to $50.00 and gave the company an “outperformer” rating in a research note on Friday, October 10th. Finally, National Bank Financial upgraded shares of Barrick Mining from a “sector perform” rating to an “outperform” rating in a report on Monday, September 22nd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Barrick Mining has a consensus rating of “Buy” and an average price target of $45.67.

Barrick Mining Stock Up 1.0%

Shares of NYSE:B opened at $40.90 on Friday. Barrick Mining Corporation has a fifty-two week low of $15.11 and a fifty-two week high of $43.08. The firm’s 50 day moving average price is $35.20 and its 200 day moving average price is $27.46. The company has a quick ratio of 2.33, a current ratio of 2.94 and a debt-to-equity ratio of 0.14. The stock has a market cap of $69.02 billion, a price-to-earnings ratio of 19.76, a price-to-earnings-growth ratio of 0.42 and a beta of 0.40.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings results on Monday, November 10th. The gold and copper producer reported $0.58 EPS for the quarter, topping the consensus estimate of $0.57 by $0.01. Barrick Mining had a net margin of 24.53% and a return on equity of 9.48%. The company had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.20 billion. During the same quarter in the previous year, the business posted $0.09 EPS. The firm’s revenue was up 23.2% on a year-over-year basis. As a group, equities research analysts predict that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be issued a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 1.7%. 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 dividend payout ratio is currently 33.82%.

About Barrick Mining

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.