683 Capital Management LLC Takes Position in Barrick Mining Corporation $B

683 Capital Management LLC purchased a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,375,000 shares of the gold and copper producer’s stock, valued at approximately $28,628,000. Barrick Mining comprises about 1.9% of 683 Capital Management LLC’s investment portfolio, making the stock its 7th largest holding. 683 Capital Management LLC owned approximately 0.08% of Barrick Mining as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in B. Vanguard Group Inc. bought a new position in Barrick Mining during the 2nd quarter worth $1,459,633,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Barrick Mining in the second quarter valued at about $1,091,122,000. First Eagle Investment Management LLC bought a new position in Barrick Mining during the second quarter worth about $822,056,000. TD Asset Management Inc acquired a new stake in Barrick Mining in the 2nd quarter worth about $386,328,000. Finally, Ninety One UK Ltd acquired a new stake in Barrick Mining in the 2nd quarter worth about $326,862,000. 90.82% of the stock is currently owned by institutional investors.

Barrick Mining Trading Down 0.3%

NYSE:B opened at $43.02 on Friday. The company has a market cap of $72.44 billion, a PE ratio of 20.78, a PEG ratio of 0.44 and a beta of 0.40. Barrick Mining Corporation has a one year low of $15.11 and a one year high of $44.07. The firm has a 50-day moving average of $36.16 and a 200-day moving average of $28.41. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.94 and a quick ratio of 2.33.

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

Barrick Mining Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be given a dividend of $0.175 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.70 annualized dividend and a dividend yield of 1.6%. This is an increase from Barrick Mining’s previous quarterly dividend of $0.15. Barrick Mining’s payout ratio is 33.82%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Barrick Mining in a report on Wednesday, September 24th. Citigroup raised Barrick Mining from a “hold” rating to a “buy” rating in a research report on Monday, November 24th. Zacks Research downgraded shares of Barrick Mining from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 21st. Jefferies Financial Group reaffirmed a “buy” rating and set a $55.00 price target on shares of Barrick Mining in a report on Sunday, December 7th. Finally, Raymond James Financial lifted their price objective on shares of Barrick Mining from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday, November 25th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Barrick Mining currently has an average rating of “Moderate Buy” and a consensus price target of $47.17.

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.