76,000 Shares in Barrick Mining Corporation $B Acquired by Banque Pictet & Cie SA

Key Points

• Banque Pictet & Cie SA acquired 76,000 shares of Barrick Mining Corporation, valued at approximately $1,582,000, during the second quarter, marking significant institutional interest in the company.
• Analysts have raised their price targets for Barrick Mining, with Royal Bank of Canada increasing it to $38.00 and UBS to $35.00, indicating positive sentiment about the stock's performance.
• Barrick Mining declared a quarterly dividend of $0.15 per share, resulting in an annualized yield of 1.7%, despite cutting its dividend from previous payouts.

Banque Pictet & Cie SA acquired a new position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 76,000 shares of the gold and copper producer's stock, valued at approximately $1,582,000.

Several other hedge funds also recently added to or reduced their stakes in B. SJS Investment Consulting Inc. purchased a new position in shares of Barrick Mining during the second quarter worth $29,000. Nexus Investment Management ULC purchased a new position in shares of Barrick Mining during the first quarter worth $32,000. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Barrick Mining during the first quarter worth $32,000. AdvisorNet Financial Inc purchased a new position in shares of Barrick Mining during the second quarter worth $39,000. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of Barrick Mining by 55.8% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 2,193 shares of the gold and copper producer's stock worth $43,000 after buying an additional 785 shares during the period. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

B has been the subject of several research analyst reports. Royal Bank Of Canada raised their price target on Barrick Mining from $34.00 to $38.00 and gave the stock an "outperform" rating in a research report on Monday. UBS Group raised their price target on Barrick Mining from $26.00 to $35.00 and gave the company a "buy" rating in a research note on Friday, September 19th. TD Securities raised their price target on Barrick Mining from $30.00 to $38.00 and gave the company a "buy" rating in a research note on Monday, September 22nd. BMO Capital Markets reiterated a "market perform" rating on shares of Barrick Mining in a research report on Monday. Finally, CIBC restated an "outperform" rating on shares of Barrick Mining in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $33.33.

Barrick Mining Stock Up 0.6%

Barrick Mining stock opened at $34.47 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.21 and a quick ratio of 2.53. Barrick Mining Corporation has a 1-year low of $15.11 and a 1-year high of $36.10. The company has a market cap of $58.70 billion, a PE ratio of 21.68, a price-to-earnings-growth ratio of 0.60 and a beta of 0.28. The stock's 50 day moving average price is $26.18 and its 200 day moving average price is $21.93.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its quarterly earnings results on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share for the quarter, meeting analysts' consensus estimates of $0.47. The firm had revenue of $3.72 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.32 earnings per share. On average, sell-side analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

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