Comprehensive Money Management Services LLC Buys New Holdings in Barrick Mining Corporation $B

Key Points

• Comprehensive Money Management Services LLC acquired 44,470 shares of Barrick Mining Corporation, valued at approximately $926,000, indicating growing institutional interest in the company.
• Barrick Mining reported a 16.4% year-over-year increase in quarterly revenue, reaching $3.72 billion, and maintained earnings per share at $0.47 for the latest quarter.
• The company recently cut its quarterly dividend to $0.15 per share, resulting in a 1.8% yield, with a payout ratio of 37.74% currently.

Comprehensive Money Management Services LLC purchased a new stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 44,470 shares of the gold and copper producer's stock, valued at approximately $926,000.

A number of other large investors also recently bought and sold shares of the stock. Louisbourg Investments Inc. acquired a new position in Barrick Mining in the second quarter valued at approximately $44,000. Trust Co. of Toledo NA OH acquired a new position in Barrick Mining in the second quarter valued at approximately $118,000. JNBA Financial Advisors acquired a new position in Barrick Mining in the second quarter valued at approximately $74,000. Inspire Investing LLC acquired a new position in Barrick Mining in the second quarter valued at approximately $839,000. Finally, Blue Trust Inc. acquired a new position in Barrick Mining in the second quarter valued at approximately $849,000. 90.82% of the stock is owned by institutional investors and hedge funds.

Barrick Mining Trading Down 1.0%

Shares of B stock opened at $32.73 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.21 and a quick ratio of 2.53. The company has a market cap of $55.72 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 0.54 and a beta of 0.30. The stock has a 50 day simple moving average of $28.58 and a 200-day simple moving average of $22.93. Barrick Mining Corporation has a 1-year low of $15.11 and a 1-year high of $36.10.

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 for the quarter, hitting the consensus estimate of $0.47. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.60 billion. During the same period in the prior year, the company posted $0.32 EPS. The business's quarterly revenue was up 16.4% on a year-over-year basis. On average, equities research analysts expect that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, August 29th. Barrick Mining's dividend payout ratio is currently 37.74%.

Analyst Ratings Changes

B has been the subject of a number of analyst reports. National Bankshares raised Barrick Mining to an "outperform" rating in a report on Monday, September 22nd. TD Securities boosted their price target on Barrick Mining from $38.00 to $46.00 and gave the company a "buy" rating in a report on Wednesday. CIBC boosted their price target on Barrick Mining from $38.00 to $50.00 and gave the company an "outperformer" rating in a report on Friday. Bank of America boosted their price target on Barrick Mining from $29.00 to $34.00 and gave the company a "neutral" rating in a report on Friday, September 19th. Finally, Cibc World Mkts raised Barrick Mining from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $38.10.

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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