Abbot Financial Management Inc. Makes New Investment in Barrick Mining Corporation $B

Abbot Financial Management Inc. acquired a new stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 13,650 shares of the gold and copper producer’s stock, valued at approximately $284,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vermillion Wealth Management Inc. bought a new position in Barrick Mining during the second quarter worth about $25,000. Concord Wealth Partners bought a new stake in Barrick Mining in the second quarter valued at approximately $26,000. Crowley Wealth Management Inc. acquired a new stake in shares of Barrick Mining in the second quarter valued at approximately $26,000. Ameriflex Group Inc. bought a new position in shares of Barrick Mining during the 2nd quarter worth approximately $27,000. Finally, Trifecta Capital Advisors LLC acquired a new position in shares of Barrick Mining during the 2nd quarter worth approximately $27,000. 90.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on B. National Bankshares raised shares of Barrick Mining to an “outperform” rating in a research report on Monday, September 22nd. BMO Capital Markets restated a “market perform” rating on shares of Barrick Mining in a research note on Monday, September 22nd. Cowen reaffirmed a “buy” rating on shares of Barrick Mining in a report on Wednesday, November 26th. Raymond James Financial increased their price target on shares of Barrick Mining from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Tuesday, November 25th. Finally, Zacks Research cut Barrick Mining from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 21st. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $47.17.

Barrick Mining Stock Down 0.3%

Shares of B opened at $43.02 on Friday. The company has a current ratio of 2.94, a quick ratio of 2.33 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 $44.07. The firm’s 50 day moving average is $36.16 and its 200-day moving average is $28.41. The stock has a market capitalization of $72.44 billion, a PE ratio of 20.78, a P/E/G ratio of 0.44 and a beta of 0.40.

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, 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 business had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.20 billion. During the same period in the previous year, the company posted $0.09 earnings per share. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. Equities research analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be issued a dividend of $0.175 per share. 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. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.6%. Barrick Mining’s payout ratio is currently 33.82%.

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.