Greenleaf Trust Acquires Shares of 26,202 Barrick Mining Corporation $B

Key Points

• Greenleaf Trust acquired 26,202 shares of Barrick Mining Corporation, valued at approximately $546,000, during the 2nd quarter.
• Over 90% of Barrick Mining's stock is owned by institutional investors, with notable acquisitions made by companies such as Perpetual Ltd and Assenagon Asset Management.
• Analysts are optimistic about Barrick Mining, with multiple firms raising their price targets, and the stock receiving an average rating of "Moderate Buy" with a target price of $33.33.

Greenleaf Trust acquired a new stake in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 26,202 shares of the gold and copper producer's stock, valued at approximately $546,000.

Several other large investors have also bought and sold shares of B. Perpetual Ltd bought a new stake in Barrick Mining during the 2nd quarter valued at approximately $63,419,000. Assenagon Asset Management S.A. bought a new stake in Barrick Mining during the 2nd quarter valued at approximately $50,139,000. Systrade AG bought a new stake in Barrick Mining during the 2nd quarter valued at approximately $41,640,000. Ninety One UK Ltd boosted its position in Barrick Mining by 20.7% during the 1st quarter. Ninety One UK Ltd now owns 8,208,676 shares of the gold and copper producer's stock valued at $159,577,000 after acquiring an additional 1,405,207 shares in the last quarter. Finally, Auto Owners Insurance Co boosted its position in Barrick Mining by 10,194.1% during the 1st quarter. Auto Owners Insurance Co now owns 1,050,000 shares of the gold and copper producer's stock valued at $20,412,000 after acquiring an additional 1,039,800 shares in the last quarter. 90.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on B. UBS Group lifted their price objective on Barrick Mining from $26.00 to $35.00 and gave the company a "buy" rating in a research report on Friday, September 19th. Royal Bank Of Canada boosted their price target on Barrick Mining from $34.00 to $38.00 and gave the stock an "outperform" rating in a research report on Monday, September 22nd. National Bank Financial raised Barrick Mining from a "sector perform" rating to an "outperform" rating in a research report on Monday, September 22nd. Sanford C. Bernstein reissued an "outperform" rating on shares of Barrick Mining in a research report on Wednesday, September 24th. Finally, National Bankshares raised Barrick Mining to an "outperform" rating in a research report on Monday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $33.33.

Barrick Mining Stock Performance

B stock opened at $33.92 on Friday. The stock has a market capitalization of $57.76 billion, a PE ratio of 21.33, a price-to-earnings-growth ratio of 0.56 and a beta of 0.30. Barrick Mining Corporation has a 12-month low of $15.11 and a 12-month high of $36.10. The company has a current ratio of 3.21, a quick ratio of 2.53 and a debt-to-equity ratio of 0.14. The stock's 50 day simple moving average is $27.13 and its 200 day simple moving average is $22.34.

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 (EPS) for the quarter, meeting the consensus estimate of $0.47. The business had revenue of $3.72 billion for the quarter, compared to analysts' expectations of $3.60 billion. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The firm's quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.32 EPS. As a group, research analysts forecast that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a $0.15 dividend. 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 dividend payout ratio is 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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