BOS Asset Management LLC Makes New Investment in Barrick Mining Corporation $B

Key Points

• BOS Asset Management LLC acquired 119,625 shares of Barrick Mining, valued at approximately $2.49 million, during the second quarter of 2023.
• Barrick Mining recently reported a quarterly earnings of $0.47 EPS, meeting analysts' expectations, with a revenue increase to $3.72 billion compared to the previous year.
• The company cut its dividend to $0.15 per share, representing a 1.7% yield, and its dividend payout ratio stands at 37.74%.

BOS Asset Management LLC bought a new position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 119,625 shares of the gold and copper producer's stock, valued at approximately $2,491,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in B. SJS Investment Consulting Inc. purchased a new position in shares of Barrick Mining during the 2nd quarter worth approximately $29,000. Nexus Investment Management ULC purchased a new position in shares of Barrick Mining during the 1st quarter worth approximately $32,000. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Barrick Mining during the 1st quarter worth approximately $32,000. Ameriflex Group Inc. purchased a new position in shares of Barrick Mining during the 4th quarter worth approximately $39,000. Finally, AdvisorNet Financial Inc purchased a new position in shares of Barrick Mining during the 2nd quarter worth approximately $39,000. Hedge funds and other institutional investors own 90.82% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Sanford C. Bernstein reiterated an "outperform" rating on shares of Barrick Mining in a report on Wednesday. National Bankshares upgraded Barrick Mining to an "outperform" rating in a report on Monday. Zacks Research downgraded Barrick Mining from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. Cibc World Mkts raised Barrick Mining from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 12th. Finally, Raymond James Financial boosted their price target on Barrick Mining from $32.00 to $36.00 and gave the stock an "outperform" rating in a research report on Monday. Two research 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 company. Based on data from MarketBeat, Barrick Mining currently has an average rating of "Moderate Buy" and an average target price of $33.33.

Barrick Mining Stock Performance

Shares of B opened at $34.30 on Friday. The company has a quick ratio of 2.53, a current ratio of 3.21 and a debt-to-equity ratio of 0.14. The business's 50 day moving average price is $25.91 and its 200-day moving average price is $21.82. Barrick Mining Corporation has a 52 week low of $15.11 and a 52 week high of $36.10. The stock has a market cap of $58.41 billion, a P/E ratio of 21.57, a P/E/G ratio of 0.59 and a beta of 0.28.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last issued its quarterly earnings results on Monday, August 11th. The gold and copper producer reported $0.47 EPS for the quarter, hitting analysts' consensus estimates of $0.47. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The firm had revenue of $3.72 billion for the quarter, compared to analysts' expectations of $3.60 billion. During the same period in the previous year, the firm posted $0.32 EPS. The business's revenue for the quarter was up 16.4% compared to the same quarter last year. Equities research analysts anticipate that Barrick Mining Corporation will post 1.47 earnings per share 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 given a $0.15 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.60 annualized dividend and a yield of 1.7%. Barrick Mining's dividend 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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