City State Bank Takes Position in Barrick Mining Corporation $B

Key Points

• City State Bank recently acquired 7,800 shares of Barrick Mining Corporation, valued at approximately $162,000, reflecting continued interest in the gold and copper sector.
• Barrick Mining reported a quarterly earnings per share of $0.47, meeting analysts' expectations and showing a 16.4% year-over-year increase in revenue.
• The company announced a quarterly dividend of $0.15 per share, with an annualized dividend yield of 1.8%, while maintaining a dividend payout ratio of 37.74%.

City State Bank acquired 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 Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,800 shares of the gold and copper producer's stock, valued at approximately $162,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of B. Vermillion Wealth Management Inc. bought a new stake in Barrick Mining during the 2nd quarter worth approximately $25,000. Crowley Wealth Management Inc. bought a new position in shares of Barrick Mining in the second quarter worth $26,000. Concord Wealth Partners purchased a new stake in shares of Barrick Mining in the second quarter worth $26,000. Ameriflex Group Inc. bought a new stake in Barrick Mining during the second quarter valued at $27,000. Finally, Trifecta Capital Advisors LLC bought a new stake in Barrick Mining during the second quarter valued at $27,000. 90.82% of the stock is currently owned by institutional investors.

Barrick Mining Stock Up 1.8%

Shares of NYSE B opened at $32.51 on Friday. The stock has a market capitalization of $55.35 billion, a P/E ratio of 20.44, a PEG ratio of 0.40 and a beta of 0.30. Barrick Mining Corporation has a one year low of $15.11 and a one year high of $36.40. The firm's 50 day simple moving average is $30.59 and its two-hundred day simple moving average is $23.92. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.21 and a quick ratio of 2.53.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last announced its quarterly earnings data on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share 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 firm had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.60 billion. During the same period in the previous year, the business posted $0.32 EPS. The business's quarterly revenue was up 16.4% on a year-over-year basis. As a group, analysts expect that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, August 29th. Barrick Mining's dividend payout ratio (DPR) is 37.74%.

Wall Street Analyst Weigh In

Several research firms have weighed in on B. BMO Capital Markets reaffirmed a "market perform" rating on shares of Barrick Mining in a report on Monday, September 22nd. Raymond James Financial set a $40.00 price objective on shares of Barrick Mining and gave the stock an "outperform" rating in a research report on Friday, October 10th. Scotiabank upgraded shares of Barrick Mining from a "sector perform" rating to a "sector outperform" rating and lifted their target price for the company from $27.50 to $43.00 in a research report on Thursday. Zacks Research cut shares of Barrick Mining from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 21st. Finally, Canaccord Genuity Group raised their price objective on shares of Barrick Mining from $39.00 to $57.00 and gave the company a "buy" rating in a research report on Thursday, October 9th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $42.70.

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.

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