Blue Trust Inc. bought a new position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 40,770 shares of the gold and copper producer's stock, valued at approximately $849,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in B. GAMMA Investing LLC grew its stake in Barrick Mining by 1,844.0% during the 1st quarter. GAMMA Investing LLC now owns 6,007 shares of the gold and copper producer's stock worth $117,000 after buying an additional 5,698 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Barrick Mining by 21.8% during the 1st quarter. Farther Finance Advisors LLC now owns 3,146 shares of the gold and copper producer's stock worth $62,000 after buying an additional 563 shares during the last quarter. Fifth Third Bancorp grew its stake in Barrick Mining by 28.9% during the 1st quarter. Fifth Third Bancorp now owns 5,644 shares of the gold and copper producer's stock worth $110,000 after buying an additional 1,266 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Barrick Mining by 1.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 74,792 shares of the gold and copper producer's stock worth $1,454,000 after buying an additional 1,156 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in Barrick Mining by 3,816.7% during the 1st quarter. Exchange Traded Concepts LLC now owns 163,639 shares of the gold and copper producer's stock worth $3,181,000 after buying an additional 159,461 shares during the last quarter. 90.82% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on B shares. BMO Capital Markets restated a "market perform" rating on shares of Barrick Mining in a research note on Monday, September 22nd. Raymond James Financial set a $40.00 price target on Barrick Mining and gave the stock an "outperform" rating in a research report on Friday. Bank of America lifted their price target on Barrick Mining from $29.00 to $34.00 and gave the stock a "neutral" rating in a research report on Friday, September 19th. UBS Group lifted their price target on Barrick Mining from $26.00 to $35.00 and gave the stock a "buy" rating in a research report on Friday, September 19th. Finally, Zacks Research cut Barrick Mining from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $38.10.
Check Out Our Latest Report on B
Barrick Mining Stock Performance
Shares of B stock opened at $32.73 on Friday. The stock has a market cap of $55.72 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 0.54 and a beta of 0.30. The business has a 50-day simple moving average of $28.58 and a 200-day simple moving average of $22.95. The company has a quick ratio of 2.53, a current ratio of 3.21 and a debt-to-equity ratio of 0.14. Barrick Mining Corporation has a 52-week low of $15.11 and a 52-week high of $36.10.
Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last issued its quarterly earnings data on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.47. The business had revenue of $3.72 billion during the quarter, compared to analysts' expectations of $3.60 billion. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The company's revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 EPS. On average, equities analysts expect that Barrick Mining Corporation will post 1.47 EPS for the current year.
Barrick Mining Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, August 29th. Barrick Mining's payout ratio is 37.74%.
Barrick Mining Profile
(
Free Report)
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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