Chelsea Counsel Co. Purchases Shares of 32,670 Barrick Mining Corporation $B

Key Points

• Chelsea Counsel Co. has acquired 32,670 shares of Barrick Mining Corporation, valued at approximately $680,000, signaling institutional interest in the company during the 2nd quarter.
• Analysts generally maintain a positive outlook on Barrick Mining, with multiple firms issuing "outperform" ratings and raising price targets, reflecting confidence in the company's performance.
• Barrick Mining recently declared a $0.15 quarterly dividend, indicating a yield of 1.8%, despite having cut its dividend previously.

Chelsea Counsel Co. bought a new position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 32,670 shares of the gold and copper producer's stock, valued at approximately $680,000.

Other hedge funds have also modified their holdings of the company. Vermillion Wealth Management Inc. purchased a new stake in shares of Barrick Mining during the 2nd quarter worth about $25,000. Crowley Wealth Management Inc. purchased a new stake in shares of Barrick Mining during the 2nd quarter worth about $26,000. SJS Investment Consulting Inc. purchased a new stake in shares of Barrick Mining during the 2nd quarter worth about $29,000. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Barrick Mining during the 1st quarter worth about $32,000. Finally, AdvisorNet Financial Inc purchased a new stake in shares of Barrick Mining during the 2nd quarter worth about $39,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Sanford C. Bernstein reissued an "outperform" rating on shares of Barrick Mining in a research note on Wednesday, September 24th. National Bank Financial raised shares of Barrick Mining from a "sector perform" rating to an "outperform" rating in a research note on Monday, September 22nd. Scotiabank raised their price target on shares of Barrick Mining from $25.00 to $26.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 13th. National Bankshares raised shares of Barrick Mining to an "outperform" rating in a research note on Monday, September 22nd. Finally, CIBC reaffirmed an "outperform" rating on shares of Barrick Mining in a research note on Monday, September 22nd. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $33.33.

Barrick Mining Stock Down 1.1%

B stock opened at $32.78 on Wednesday. The company has a market cap of $55.82 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 0.58 and a beta of 0.28. 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 Corporation has a 12 month low of $15.11 and a 12 month high of $36.10. The firm has a 50-day moving average of $26.64 and a two-hundred day moving average of $22.15.

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. As a group, analysts forecast that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, August 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.8%. Barrick Mining's dividend payout ratio (DPR) 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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