Blair William & Co. IL Buys New Stake in Barrick Mining Corporation $B

Key Points

• Blair William & Co. acquired a new stake in Barrick Mining Corporation, purchasing 108,799 shares valued at approximately $2.27 million during Q2.
• Several institutional investors, including Maryland State Retirement & Pension System, have also initiated stakes in Barrick Mining, leading to institutional ownership of 90.82%.
• Analysts have upgraded Barrick's stock ratings, with the average target price now at $38.10 and a consensus rating of "Moderate Buy".

Blair William & Co. IL bought a new stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 108,799 shares of the gold and copper producer's stock, valued at approximately $2,265,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in B. GFG Capital LLC bought a new stake in Barrick Mining during the second quarter worth about $42,000. McElhenny Sheffield Capital Management LLC bought a new stake in Barrick Mining during the second quarter worth about $418,000. US Bancorp DE bought a new stake in Barrick Mining during the second quarter worth about $620,000. Trifecta Capital Advisors LLC bought a new stake in Barrick Mining during the second quarter worth about $27,000. Finally, Maryland State Retirement & Pension System bought a new stake in Barrick Mining during the second quarter worth about $11,728,000. Institutional investors own 90.82% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on B. Cibc World Mkts raised shares of Barrick Mining from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 12th. Royal Bank Of Canada upped their price objective on shares of Barrick Mining from $34.00 to $38.00 and gave the stock an "outperform" rating in a research note on Monday, September 22nd. Bank of America upped their price objective on shares of Barrick Mining from $29.00 to $34.00 and gave the stock a "neutral" rating in a research note on Friday, September 19th. UBS Group upped their price objective on shares of Barrick Mining from $26.00 to $35.00 and gave the stock a "buy" rating in a research note on Friday, September 19th. Finally, Raymond James Financial set a $40.00 price objective on shares of Barrick Mining and gave the stock an "outperform" rating in a research note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $38.10.

Barrick Mining Price Performance

Shares of B stock opened at $33.34 on Wednesday. Barrick Mining Corporation has a 1 year low of $15.11 and a 1 year high of $36.10. The firm's 50 day moving average is $29.02 and its 200-day moving average is $23.15. The firm has a market capitalization of $56.77 billion, a price-to-earnings ratio of 20.97, a PEG ratio of 0.55 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.

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, hitting analysts' consensus estimates of $0.47. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same period in the prior year, the business earned $0.32 earnings per share. Barrick Mining's quarterly revenue was up 16.4% on a year-over-year basis. Sell-side analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, August 29th. Barrick Mining's dividend payout ratio is currently 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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