Exchange Traded Concepts LLC Purchases Shares of 323,270 Barrick Mining Corporation $B

Key Points

• Exchange Traded Concepts LLC acquired 323,270 shares of Barrick Mining Corporation, valued at approximately $6.73 million, indicating increased institutional investment in the company.
• Barrick Mining reported a quarterly earnings per share (EPS) of $0.47, meeting expectations, while revenues increased by 16.4% year-over-year to $3.72 billion.
• The company announced a quarterly dividend of $0.15, representing an annual yield of 1.8%, amidst a dividend payout ratio of 37.74%.

Exchange Traded Concepts LLC acquired a new stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 323,270 shares of the gold and copper producer's stock, valued at approximately $6,730,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of B. Twinbeech Capital LP bought a new stake in shares of Barrick Mining during the 4th quarter worth approximately $334,000. Voloridge Investment Management LLC purchased a new position in Barrick Mining during the 4th quarter worth $12,615,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Barrick Mining by 37.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,438,944 shares of the gold and copper producer's stock worth $22,304,000 after purchasing an additional 390,531 shares during the period. Vise Technologies Inc. increased its holdings in Barrick Mining by 36.8% during the 4th quarter. Vise Technologies Inc. now owns 28,932 shares of the gold and copper producer's stock worth $448,000 after purchasing an additional 7,783 shares during the period. Finally, Brickwood Asset Management LLP purchased a new position in Barrick Mining during the 4th quarter worth $27,193,000. 90.82% of the stock is owned by institutional investors.

Barrick Mining Price Performance

Shares of Barrick Mining stock traded up $0.31 during mid-day trading on Tuesday, reaching $35.67. 10,009,358 shares of the stock traded hands, compared to its average volume of 19,854,018. The company has a quick ratio of 2.53, a current ratio of 3.21 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average of $25.12 and a 200 day moving average of $21.54. The stock has a market capitalization of $60.75 billion, a PE ratio of 22.44, a PEG ratio of 0.58 and a beta of 0.27. Barrick Mining Corporation has a fifty-two week low of $15.11 and a fifty-two week high of $36.10.

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 EPS for the quarter, hitting the consensus estimate of $0.47. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.60 billion. During the same period last year, the business posted $0.32 earnings per share. The company's quarterly revenue was up 16.4% on a year-over-year basis. On average, analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.60 annualized dividend and a dividend yield of 1.7%. Barrick Mining's payout ratio is 37.74%.

Wall Street Analyst Weigh In

Several research firms have commented on B. TD Securities raised their price objective on Barrick Mining from $30.00 to $38.00 and gave the stock a "buy" rating in a report on Monday. UBS Group raised their price objective on Barrick Mining from $26.00 to $35.00 and gave the stock a "buy" rating in a report on Friday. BMO Capital Markets restated a "market perform" rating on shares of Barrick Mining in a report on Monday. Royal Bank Of Canada lifted their price target on Barrick Mining from $34.00 to $38.00 and gave the company an "outperform" rating in a report on Monday. Finally, Zacks Research downgraded Barrick Mining from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, Barrick Mining currently has an average rating of "Moderate Buy" and a consensus price target of $33.33.

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.