207,832 Shares in Barrick Mining Corporation $B Acquired by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH acquired 207,832 shares of Barrick Mining Corporation valued at approximately $4.3 million in Q2, contributing to institutional investors holding over 90% of the company's stock.
• Recent analysts' reports have revised Barrick Mining's target price upwards, with recommendations ranging from "outperform" to "buy", while the stock currently holds an average rating of "Moderate Buy".
• Barrick Mining recently declared a quarterly dividend of $0.15 per share, representing an annualized yield of 1.9%, despite a cut in the dividend payout ratio to 37.74%.

Allianz Asset Management GmbH bought a new position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 207,832 shares of the gold and copper producer's stock, valued at approximately $4,318,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of B. Vermillion Wealth Management Inc. acquired a new stake in Barrick Mining during the 2nd quarter worth approximately $25,000. Crowley Wealth Management Inc. acquired a new stake in Barrick Mining during the 2nd quarter worth approximately $26,000. Concord Wealth Partners acquired a new stake in Barrick Mining during the 2nd quarter worth approximately $26,000. Ameriflex Group Inc. acquired a new stake in Barrick Mining during the 2nd quarter worth approximately $27,000. Finally, Trifecta Capital Advisors LLC acquired a new stake in Barrick Mining during the 2nd quarter worth approximately $27,000. Institutional investors and hedge funds own 90.82% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. CIBC increased their target price on shares of Barrick Mining from $38.00 to $50.00 and gave the stock an "outperformer" rating in a research report on Friday, October 10th. National Bankshares raised shares of Barrick Mining to an "outperform" rating in a research report on Monday, September 22nd. UBS Group increased their price objective on shares of Barrick Mining from $35.00 to $39.00 and gave the company a "buy" rating in a research report on Thursday, October 16th. Bank of America increased their price objective on shares of Barrick Mining from $36.00 to $38.00 and gave the company a "neutral" rating in a research report on Thursday, October 16th. Finally, National Bank Financial raised shares of Barrick Mining from a "sector perform" rating to an "outperform" rating in a research report on Monday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $42.70.

Barrick Mining Stock Up 1.4%

B stock opened at $31.96 on Friday. Barrick Mining Corporation has a twelve month low of $15.11 and a twelve month high of $36.40. The company has a current ratio of 3.21, a quick ratio of 2.53 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $54.42 billion, a P/E ratio of 20.10, a PEG ratio of 0.39 and a beta of 0.30. The firm has a 50 day simple moving average of $30.43 and a 200-day simple moving average of $23.82.

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

Barrick Mining Cuts Dividend

The business also recently declared 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 1.9%. Barrick Mining's dividend payout ratio (DPR) is presently 37.74%.

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.

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