DCF Advisers LLC Invests $1.26 Million in Barrick Mining Corporation (NYSE:B)

Key Points

• DCF Advisers LLC acquired 65,000 shares of Barrick Mining Corporation, valued at approximately $1,264,000, in the first quarter as per a recent 13F filing.
• Several hedge funds have been actively adjusting their positions in Barrick Mining, with 90.82% of the stock currently owned by institutional investors.
• Analysts have upgraded Barrick Mining's stock ratings, with targets ranging from $25.00 to $28.00, and the company recently reported an increase in quarterly revenue by 13.9% year-over-year.

DCF Advisers LLC acquired a new position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 65,000 shares of the gold and copper producer's stock, valued at approximately $1,264,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Vega Investment Solutions acquired a new stake in shares of Barrick Mining during the fourth quarter worth approximately $31,000. Nexus Investment Management ULC purchased a new position in Barrick Mining during the 1st quarter valued at about $32,000. Strategic Investment Solutions Inc. IL purchased a new position in Barrick Mining during the 4th quarter valued at about $37,000. Ameriflex Group Inc. acquired a new stake in Barrick Mining in the 4th quarter worth approximately $39,000. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in Barrick Mining by 55.8% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 2,193 shares of the gold and copper producer's stock valued at $43,000 after acquiring an additional 785 shares during the last quarter. 90.82% of the stock is owned by institutional investors and hedge funds.

Barrick Mining Stock Performance

Shares of NYSE:B traded up $0.23 during midday trading on Tuesday, hitting $22.41. The company had a trading volume of 4,669,922 shares, compared to its average volume of 19,762,152. Barrick Mining Corporation has a 12-month low of $15.11 and a 12-month high of $22.49. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.87 and a quick ratio of 2.16. The company has a market cap of $38.22 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 0.32 and a beta of 0.27. The company has a fifty day moving average of $20.86 and a two-hundred day moving average of $19.25.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last announced its quarterly earnings data on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.06. Barrick Mining had a net margin of 17.46% and a return on equity of 7.51%. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter last year, the firm earned $0.19 earnings per share. The firm's quarterly revenue was up 13.9% compared to the same quarter last year. On average, equities research analysts expect that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were paid a $0.10 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.40 dividend on an annualized basis and a yield of 1.8%. Barrick Mining's dividend payout ratio (DPR) is 30.08%.

Analyst Ratings Changes

Several research analysts have recently commented on B shares. Wall Street Zen upgraded Barrick Mining from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 5th. CIBC lifted their price objective on shares of Barrick Mining from $24.00 to $28.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. BMO Capital Markets began coverage on Barrick Mining in a report on Wednesday, April 16th. They issued a "market perform" rating for the company. UBS Group boosted their price objective on Barrick Mining from $22.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Finally, Royal Bank Of Canada set a $26.00 price objective on Barrick Mining and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Barrick Mining currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.41.

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.