703,633 Shares in Barrick Mining Corporation (NYSE:B) Purchased by Cheviot Value Management LLC

Key Points

• Cheviot Value Management LLC has acquired a new stake in Barrick Mining Corporation, purchasing 703,633 shares valued at approximately $13.12 million, making it the fund's 18th largest position.
• Several analysts have updated their price targets for Barrick Mining, with CIBC raising its target from $24.00 to $28.00 and maintaining a "neutral" rating, while Wall Street Zen upgraded the stock from "buy" to "strong-buy."
• Barrick Mining recently declared a quarterly dividend of $0.10 per share, representing an annualized dividend yield of 1.9% with a payout ratio of 30.08%.

Cheviot Value Management LLC acquired a new stake in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 703,633 shares of the gold and copper producer's stock, valued at approximately $13,116,000. Barrick Mining makes up about 1.6% of Cheviot Value Management LLC's portfolio, making the stock its 18th biggest position.

Several other hedge funds have also recently added to or reduced their stakes in B. Penserra Capital Management LLC boosted its position in Barrick Mining by 1,919.0% during the first quarter. Penserra Capital Management LLC now owns 2,968 shares of the gold and copper producer's stock worth $56,000 after purchasing an additional 2,821 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Barrick Mining by 14.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 73,636 shares of the gold and copper producer's stock worth $1,141,000 after acquiring an additional 9,149 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Barrick Mining by 24.4% in the first quarter. Sequoia Financial Advisors LLC now owns 20,795 shares of the gold and copper producer's stock valued at $404,000 after acquiring an additional 4,082 shares during the period. Janney Montgomery Scott LLC grew its position in shares of Barrick Mining by 25.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 291,281 shares of the gold and copper producer's stock valued at $5,663,000 after purchasing an additional 59,906 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in Barrick Mining in the 4th quarter worth about $19,505,000. Institutional investors own 90.82% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on B shares. Scotiabank increased their price objective on shares of Barrick Mining from $20.00 to $22.00 and gave the company a "sector perform" rating in a research note on Monday, April 14th. BMO Capital Markets started coverage on shares of Barrick Mining in a report on Wednesday, April 16th. They set a "market perform" rating for the company. Wall Street Zen upgraded Barrick Mining from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 5th. UBS Group upped their price target on shares of Barrick Mining from $22.00 to $25.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Finally, Royal Bank Of Canada set a $26.00 price objective on shares of Barrick Mining and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $24.41.

Barrick Mining Price Performance

Shares of Barrick Mining stock traded up $0.20 during trading on Tuesday, hitting $22.38. 4,669,922 shares of the company's stock traded hands, compared to its average volume of 19,762,152. Barrick Mining Corporation has a twelve month low of $15.11 and a twelve month high of $22.49. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.87 and a quick ratio of 2.16. The company has a market cap of $38.18 billion, a PE ratio of 16.79, a PEG ratio of 0.32 and a beta of 0.27. The firm's fifty day moving average price is $20.86 and its 200 day moving average price is $19.25.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its quarterly earnings data on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.06. The company had revenue of $3 billion during the quarter, compared to analyst estimates of $3.15 billion. Barrick Mining had a net margin of 17.46% and a return on equity of 7.51%. The company's revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the business posted $0.19 earnings per share. Analysts forecast that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Friday, May 30th. Barrick Mining's dividend payout ratio (DPR) is presently 30.08%.

Barrick Mining Company 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.