Bank Pictet & Cie Europe AG Invests $296,000 in Barrick Mining Corporation $B

Key Points

• Bank Pictet & Cie Europe AG has invested approximately $296,000 in Barrick Mining Corporation by acquiring 14,231 shares during the second quarter.
• Institutional investors currently hold 90.82% of Barrick Mining's stock, indicating strong institutional interest and support for the company.
• Wall Street analysts provided an overall positive outlook, with two firms issuing a Strong Buy rating and raising the price target to as high as $38.00.

Bank Pictet & Cie Europe AG bought a new position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 14,231 shares of the gold and copper producer's stock, valued at approximately $296,000.

Several other institutional investors also recently modified their holdings of B. Wealth Enhancement Advisory Services LLC grew its position in shares of Barrick Mining by 14.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 73,636 shares of the gold and copper producer's stock worth $1,141,000 after buying an additional 9,149 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in shares of Barrick Mining by 55.8% during the 1st 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. Confluence Investment Management LLC grew its position in shares of Barrick Mining by 6.9% during the 1st quarter. Confluence Investment Management LLC now owns 31,798 shares of the gold and copper producer's stock worth $618,000 after buying an additional 2,047 shares during the period. Versant Capital Management Inc bought a new position in shares of Barrick Mining during the 1st quarter valued at about $97,000. Finally, Moody National Bank Trust Division bought a new position in shares of Barrick Mining during the 1st quarter valued at about $201,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. CIBC reiterated an "outperform" rating on shares of Barrick Mining in a report on Monday. BMO Capital Markets reiterated a "market perform" rating on shares of Barrick Mining in a report on Monday. Sanford C. Bernstein reiterated an "outperform" rating on shares of Barrick Mining in a report on Wednesday. Raymond James Financial lifted their price objective on Barrick Mining from $32.00 to $36.00 and gave the company an "outperform" rating in a report on Monday, September 22nd. Finally, TD Securities lifted their price objective on Barrick Mining from $30.00 to $38.00 and gave the company a "buy" rating in a report on Monday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Barrick Mining currently has an average rating of "Moderate Buy" and an average target price of $33.33.

Barrick Mining Trading Up 0.6%

NYSE B opened at $34.47 on Friday. The stock has a market capitalization of $58.70 billion, a price-to-earnings ratio of 21.68, a PEG ratio of 0.60 and a beta of 0.28. The stock's 50 day moving average price is $26.18 and its two-hundred day moving average price is $21.93. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.53 and a current ratio of 3.21. 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 posted its quarterly earnings results on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share for the quarter, hitting the consensus estimate of $0.47. The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.60 billion. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The business's quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.32 EPS. As a group, analysts anticipate that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.60 annualized dividend and a dividend yield of 1.7%. Barrick Mining's payout ratio is 37.74%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.