Aubrey Capital Management Ltd Invests $1.41 Million in Barrick Mining Corporation $B

Key Points

• Aubrey Capital Management Ltd has invested approximately $1.41 million in Barrick Mining Corporation, acquiring 68,516 shares during the second quarter.
• Barrick Mining's stock price rose 2.7% to $35.61, with a current market capitalization of $60.64 billion.
• Despite posting a quarterly earnings per share of $0.47, Barrick Mining recently announced a dividend cut, reducing its annual dividend to $0.60 with a yield of 1.7%.

Aubrey Capital Management Ltd purchased a new position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 68,516 shares of the gold and copper producer's stock, valued at approximately $1,405,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vermillion Wealth Management Inc. purchased a new stake in shares of Barrick Mining in the second quarter worth approximately $25,000. Concord Wealth Partners bought a new position in Barrick Mining in the second quarter worth approximately $26,000. Crowley Wealth Management Inc. bought a new position in Barrick Mining in the second quarter worth approximately $26,000. Ameriflex Group Inc. bought a new position in Barrick Mining in the second quarter worth approximately $27,000. Finally, Trifecta Capital Advisors LLC bought a new position in Barrick Mining in the second quarter worth approximately $27,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Mining Stock Up 2.7%

Shares of NYSE B opened at $35.61 on Friday. 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 stock has a market capitalization of $60.64 billion, a PE ratio of 22.40, a price-to-earnings-growth ratio of 0.57 and a beta of 0.30. The stock's fifty day simple moving average is $29.51 and its two-hundred day simple moving average is $23.34. Barrick Mining Corporation has a 12-month low of $15.11 and a 12-month high of $36.40.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last announced its earnings results 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 for 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 business's revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 EPS. As a group, analysts expect that Barrick Mining Corporation will post 1.47 EPS 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 given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, August 29th. Barrick Mining's dividend payout ratio (DPR) is 37.74%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on B shares. Sanford C. Bernstein reissued an "outperform" rating on shares of Barrick Mining in a research note on Wednesday, September 24th. Canaccord Genuity Group increased their price objective on Barrick Mining from $39.00 to $57.00 and gave the stock a "buy" rating in a research note on Thursday, October 9th. UBS Group increased their price objective on Barrick Mining from $35.00 to $39.00 and gave the stock a "buy" rating in a research note on Thursday. TD Securities increased their price objective on Barrick Mining from $38.00 to $46.00 and gave the stock a "buy" rating in a research note on Wednesday, October 8th. Finally, Scotiabank increased their price objective on Barrick Mining from $25.00 to $26.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $41.00.

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.

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