Highland Capital Management LLC Invests $1.43 Million in Barrick Mining Corporation $B

Key Points

• Highland Capital Management LLC invested approximately $1.43 million in Barrick Mining Corporation, acquiring 68,639 shares in the second quarter.
• Barrick Mining reported a 16.4% year-over-year revenue increase, with earnings per share of $0.47, matching analysts' expectations.
• The company announced a quarterly dividend of $0.15 per share, with a payout ratio of 37.74%, reflecting a yield of 1.8%.

Highland Capital Management LLC acquired a new stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 68,639 shares of the gold and copper producer's stock, valued at approximately $1,429,000.

A number of other institutional investors also recently bought and sold shares of the stock. Ninety One UK Ltd purchased a new position in shares of Barrick Mining in the second quarter worth $326,862,000. Perpetual Ltd acquired a new position in shares of Barrick Mining in the 2nd quarter valued at $63,419,000. Assenagon Asset Management S.A. purchased a new position in Barrick Mining in the 2nd quarter worth $50,139,000. Systrade AG purchased a new position in Barrick Mining in the 2nd quarter worth $41,640,000. Finally, Auto Owners Insurance Co lifted 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 worth $20,412,000 after acquiring an additional 1,039,800 shares during the period. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Barrick Mining Stock Performance

B opened at $33.94 on Monday. The firm has a fifty day moving average price of $27.37 and a 200 day moving average price of $22.48. Barrick Mining Corporation has a 1 year low of $15.11 and a 1 year high of $36.10. The stock has a market cap of $57.78 billion, a P/E ratio of 21.34, a P/E/G ratio of 0.56 and a beta of 0.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.21 and a quick ratio of 2.53.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last issued its quarterly earnings data 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. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.60 billion. During the same quarter in the prior year, the firm posted $0.32 earnings per share. The company's revenue was up 16.4% compared to the same quarter last year. Equities research analysts anticipate that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued 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 (DPR) is presently 37.74%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on B shares. BMO Capital Markets reissued a "market perform" rating on shares of Barrick Mining in a report on Monday, September 22nd. National Bank Financial upgraded shares of Barrick Mining from a "sector perform" rating to an "outperform" rating in a report on Monday, September 22nd. Raymond James Financial lifted their price objective on shares of Barrick Mining from $32.00 to $36.00 and gave the company an "outperform" rating in a research note on Monday, September 22nd. Weiss Ratings reiterated a "buy (b)" rating on shares of Barrick Mining in a research note on Saturday, September 27th. Finally, Cibc World Mkts raised shares of Barrick Mining from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Barrick Mining has an average rating of "Moderate Buy" and a consensus price target of $33.33.

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.

Want to see what other hedge funds are holding B? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.