Generali Investments CEE investicni spolecnost a.s. Makes New Investment in Barrick Mining Corporation $B

Key Points

• Generali Investments CEE has acquired 73,120 shares of Barrick Mining Corporation for approximately $1.5 million, as reported in their latest SEC filing.
• Recent analyst ratings for Barrick Mining include upgrades to a "strong-buy" from Cibc World Markets and a price target increase from Bank of America from $29 to $34.
• Barrick Mining recently cut its quarterly dividend to $0.15 per share, resulting in a 1.8% yield and a payout ratio of 37.74%.

Generali Investments CEE investicni spolecnost a.s. 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 13F filing with the Securities and Exchange Commission. The firm acquired 73,120 shares of the gold and copper producer's stock, valued at approximately $1,522,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Penserra Capital Management LLC increased its stake in Barrick Mining by 1,919.0% during the 1st quarter. Penserra Capital Management LLC now owns 2,968 shares of the gold and copper producer's stock worth $56,000 after acquiring an additional 2,821 shares during the period. Hedges Asset Management LLC bought a new position in Barrick Mining during the 2nd quarter worth $1,249,000. Chemistry Wealth Management LLC bought a new position in Barrick Mining during the 2nd quarter worth $246,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Barrick Mining by 14.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 73,636 shares of the gold and copper producer's stock valued at $1,141,000 after purchasing an additional 9,149 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in shares of Barrick Mining by 24.4% in the 1st quarter. Sequoia Financial Advisors LLC now owns 20,795 shares of the gold and copper producer's stock valued at $404,000 after purchasing an additional 4,082 shares during the last quarter. Institutional investors own 90.82% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on B shares. Wall Street Zen lowered Barrick Mining from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Barrick Mining in a research note on Wednesday, September 24th. Bank of America lifted their price target on Barrick Mining from $29.00 to $34.00 and gave the company a "neutral" rating in a research note on Friday, September 19th. Cibc World Mkts upgraded Barrick Mining from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 12th. Finally, National Bank Financial upgraded Barrick Mining from a "sector perform" rating to an "outperform" rating in a research note on Monday, September 22nd. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $33.33.

Barrick Mining Trading Down 1.1%

NYSE B opened at $32.78 on Wednesday. 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 Corporation has a twelve month low of $15.11 and a twelve month high of $36.10. The company has a market cap of $55.82 billion, a price-to-earnings ratio of 20.62, a price-to-earnings-growth ratio of 0.58 and a beta of 0.28. The business's fifty day moving average is $26.64 and its 200 day moving average is $22.15.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released its quarterly earnings data on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.60 billion. During the same quarter last year, the business posted $0.32 EPS. Barrick Mining's revenue for the quarter was up 16.4% on a year-over-year basis. As a group, sell-side analysts expect that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued 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 1.8%. Barrick Mining's payout ratio is presently 37.74%.

Barrick Mining 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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