Cullen Frost Bankers Inc. Purchases New Holdings in Barrick Mining Corporation $B

Key Points

• Cullen Frost Bankers Inc. has acquired a new stake in Barrick Mining Corporation, purchasing approximately 32,790 shares valued at around $683,000 in the second quarter.
• Several other institutional investors also increased their stakes in Barrick Mining, which now has approximately 90.82% of its stock owned by institutional investors.
• Analysts have mixed ratings for Barrick Mining, with CIBC raising their price target from $38.00 to $50.00, while Zacks Research downgraded the company's rating from "strong-buy" to "hold."

Cullen Frost Bankers Inc. purchased a new stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 32,790 shares of the gold and copper producer's stock, valued at approximately $683,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vermillion Wealth Management Inc. acquired a new stake in shares of Barrick Mining in the second quarter valued at approximately $25,000. Concord Wealth Partners acquired a new stake in shares of Barrick Mining in the second quarter valued at approximately $26,000. Crowley Wealth Management Inc. acquired a new stake in shares of Barrick Mining in the second quarter valued at approximately $26,000. Ameriflex Group Inc. acquired a new stake in shares of Barrick Mining in the second quarter valued at approximately $27,000. Finally, Trifecta Capital Advisors LLC bought a new position in Barrick Mining in the second quarter valued at approximately $27,000. Institutional investors and hedge funds own 90.82% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on B shares. CIBC raised their price objective on shares of Barrick Mining from $38.00 to $50.00 and gave the company an "outperformer" rating in a research note on Friday, October 10th. Raymond James Financial set a $40.00 price objective on shares of Barrick Mining and gave the company an "outperform" rating in a research note on Friday, October 10th. Wall Street Zen raised shares of Barrick Mining from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 11th. 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, National Bankshares raised shares of Barrick Mining to an "outperform" rating in a research note on Monday, September 22nd. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Barrick Mining currently has an average rating of "Moderate Buy" and a consensus price target of $42.70.

Barrick Mining Trading Up 1.8%

Shares of NYSE B opened at $32.51 on Friday. The company's fifty day moving average is $30.59 and its 200-day moving average is $23.92. The stock has a market cap of $55.35 billion, a price-to-earnings ratio of 20.44, a P/E/G ratio of 0.40 and a beta of 0.30. Barrick Mining Corporation has a twelve month low of $15.11 and a twelve month high of $36.40. The company has a quick ratio of 2.53, a current ratio of 3.21 and a debt-to-equity ratio of 0.14.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last announced its quarterly earnings results 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. The company had revenue of $3.72 billion for the quarter, compared to analysts' expectations of $3.60 billion. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The business's quarterly revenue was up 16.4% compared to the same quarter last year. During the same period last year, the firm posted $0.32 earnings per share. Equities research analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current 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 given 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 currently 37.74%.

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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