47,803 Shares in Barrick Mining Corporation $B Purchased by Gateway Investment Advisers LLC

Key Points

• Gateway Investment Advisers LLC acquired a new stake in Barrick Mining Corporation, purchasing 47,803 shares valued at approximately $995,000.
• Institutional investors own 90.82% of Barrick Mining's stock, indicating a strong institutional interest in the company.
• Barrick Mining reported $3.72 billion in revenue for its last quarter, exceeding analysts' expectations and marking a 16.4% year-over-year increase.

Gateway Investment Advisers LLC acquired a new stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 47,803 shares of the gold and copper producer's stock, valued at approximately $995,000.

Other hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC raised its holdings in shares of Barrick Mining by 21.8% in the first quarter. Farther Finance Advisors LLC now owns 3,146 shares of the gold and copper producer's stock valued at $62,000 after purchasing an additional 563 shares during the last quarter. Sapient Capital LLC raised its holdings in shares of Barrick Mining by 0.5% in the first quarter. Sapient Capital LLC now owns 114,572 shares of the gold and copper producer's stock valued at $2,227,000 after purchasing an additional 624 shares during the last quarter. Kestra Private Wealth Services LLC raised its holdings in shares of Barrick Mining by 2.5% in the first quarter. Kestra Private Wealth Services LLC now owns 28,724 shares of the gold and copper producer's stock valued at $558,000 after purchasing an additional 710 shares during the last quarter. Nicholas Hoffman & Company LLC. raised its holdings in shares of Barrick Mining by 1.5% in the first quarter. Nicholas Hoffman & Company LLC. now owns 47,544 shares of the gold and copper producer's stock valued at $924,000 after purchasing an additional 716 shares during the last quarter. Finally, Edge Wealth Management LLC raised its holdings in shares of Barrick Mining by 6.1% in the first quarter. Edge Wealth Management LLC now owns 13,110 shares of the gold and copper producer's stock valued at $255,000 after purchasing an additional 755 shares during the last quarter. Institutional investors own 90.82% of the company's stock.

Barrick Mining Stock Performance

Shares of Barrick Mining stock traded up $1.66 during trading on Monday, reaching $34.65. The company's stock had a trading volume of 20,938,049 shares, compared to its average volume of 19,725,305. The business's 50-day moving average price is $24.84 and its 200-day moving average price is $21.42. The firm has a market cap of $59.01 billion, a PE ratio of 21.79, a P/E/G ratio of 0.58 and a beta of 0.27. Barrick Mining Corporation has a 52 week low of $15.11 and a 52 week high of $35.70. 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 earnings results on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.47. The company had revenue of $3.72 billion during 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%. Barrick Mining's quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.32 earnings per share. Equities analysts forecast that Barrick Mining Corporation will post 1.47 earnings per share for the current 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 given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.60 annualized dividend and a yield of 1.7%. Barrick Mining's dividend payout ratio is currently 37.74%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. UBS Group boosted their target price on shares of Barrick Mining from $26.00 to $35.00 and gave the stock a "buy" rating in a report on Friday. Cibc World Mkts upgraded shares of Barrick Mining from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 12th. Wall Street Zen downgraded shares of Barrick Mining from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Bank of America boosted their target price on shares of Barrick Mining from $29.00 to $34.00 and gave the stock a "neutral" rating in a report on Friday. Finally, Zacks Research downgraded shares of Barrick Mining from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Barrick Mining currently has a consensus rating of "Moderate Buy" and an average price target of $29.89.

About Barrick Mining

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.