apricus wealth LLC Makes New Investment in Barrick Mining Corporation $B

Key Points

• Apricus Wealth LLC acquired a new stake in Barrick Mining Corporation, purchasing approximately 107,975 shares valued at about $2.25 million in the second quarter.
• Barrick Mining reported $3.72 billion in quarterly revenue, exceeding analysts' estimates, with an earnings per share (EPS) of $0.47, matching expectations and showing a year-over-year revenue increase of 16.4%.
• The company announced a quarterly dividend of $0.15 per share, representing an annualized dividend yield of 1.7% and a dividend payout ratio of 37.74%.

apricus wealth LLC acquired a new stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 107,975 shares of the gold and copper producer's stock, valued at approximately $2,248,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of B. TD Asset Management Inc acquired a new position in Barrick Mining in the second quarter valued at approximately $386,328,000. Ninety One UK Ltd acquired a new position in shares of Barrick Mining in the 2nd quarter valued at $326,862,000. Perpetual Ltd acquired a new stake in Barrick Mining during the second quarter valued at $63,419,000. Assenagon Asset Management S.A. purchased a new position in Barrick Mining in the second quarter valued at $50,139,000. Finally, Euro Pacific Asset Management LLC acquired a new position in shares of Barrick Mining in the second quarter worth about $45,212,000. 90.82% of the stock is owned by institutional investors and hedge funds.

Barrick Mining Stock Performance

NYSE:B opened at $34.75 on Tuesday. Barrick Mining Corporation has a twelve month low of $15.11 and a twelve month high of $36.40. The company has a market cap of $59.18 billion, a P/E ratio of 21.86, a P/E/G ratio of 0.42 and a beta of 0.30. 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's 50-day moving average price is $29.95 and its 200-day moving average price is $23.61.

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

Barrick Mining Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were paid a $0.15 dividend. 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 1.7%. Barrick Mining's dividend payout ratio (DPR) is 37.74%.

Analyst Ratings Changes

A number of research firms have recently commented on B. BMO Capital Markets restated a "market perform" rating on shares of Barrick Mining in a research report on Monday, September 22nd. National Bankshares raised Barrick Mining to an "outperform" rating in a report on Monday, September 22nd. Raymond James Financial set a $40.00 target price on Barrick Mining and gave the stock an "outperform" rating in a research note on Friday, October 10th. Wall Street Zen raised shares of Barrick Mining from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 11th. Finally, Citigroup upped their price objective on shares of Barrick Mining from $21.00 to $38.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 15th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $41.00.

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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