Sapient Capital LLC Takes $266,000 Position in Barrick Mining Corporation $B

Key Points

• Sapient Capital LLC has acquired 12,758 shares of Barrick Mining Corporation, valued at approximately $266,000, marking a new position for the firm in the second quarter.
• Barrick Mining reported $3.72 billion in revenue for the quarter and met the consensus earnings estimate of $0.47 earnings per share, indicating a 16.4% year-over-year revenue growth.
• The company's recent quarterly dividend was set at $0.15 per share, representing a 2.0% dividend yield and a payout ratio of 37.74%.

Sapient Capital LLC acquired a new position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 12,758 shares of the gold and copper producer's stock, valued at approximately $266,000.

Other hedge funds have also modified their holdings of the company. Nexus Investment Management ULC purchased a new stake in shares of Barrick Mining during the 1st quarter valued at about $32,000. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Barrick Mining during the 1st quarter valued at about $32,000. Vega Investment Solutions purchased a new stake in shares of Barrick Mining during the 4th quarter valued at about $31,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Barrick Mining by 55.8% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 2,193 shares of the gold and copper producer's stock valued at $43,000 after buying an additional 785 shares during the period. Finally, Ameriflex Group Inc. purchased a new stake in shares of Barrick Mining during the 4th quarter valued at about $39,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on B. Scotiabank raised their price objective on Barrick Mining from $25.00 to $26.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 13th. Raymond James Financial set a $32.00 price objective on Barrick Mining in a research note on Thursday. Wall Street Zen lowered Barrick Mining from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. UBS Group raised their price objective on Barrick Mining from $26.00 to $35.00 and gave the company a "buy" rating in a research note on Friday. Finally, CIBC upgraded Barrick Mining from a "neutral" rating to an "outperform" rating in a research note on Tuesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $28.78.

Barrick Mining Price Performance

Shares of B traded up $2.92 during midday trading on Friday, reaching $32.99. The stock had a trading volume of 71,157,049 shares, compared to its average volume of 17,563,026. Barrick Mining Corporation has a 52 week low of $15.11 and a 52 week high of $33.20. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.21 and a quick ratio of 2.53. The firm's 50 day moving average price is $24.84 and its 200-day moving average price is $21.38. The company has a market capitalization of $56.18 billion, a P/E ratio of 20.75, a P/E/G ratio of 0.53 and a beta of 0.28.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last announced its earnings results on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.47. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.60 billion. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.Barrick Mining's revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 earnings per share. On average, analysts forecast that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.8%. Barrick Mining's payout ratio is 37.74%.

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.