JTC Employer Solutions Trustee Ltd Invests $321,000 in Barrick Mining Corporation $B

Key Points

• JTC Employer Solutions Trustee Ltd has invested $321,000 in Barrick Mining Corporation by acquiring 15,422 shares in the second quarter.
• Analysts have increased their target prices for Barrick Mining, with Citigroup raising it from $21.00 to $38.00 and TD Securities setting a target of $46.00.
• Barrick Mining's latest earnings report showed a revenue increase of 16.4% year-over-year, reporting $0.47 earnings per share, meeting analysts' expectations.

JTC Employer Solutions Trustee Ltd acquired a new position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 15,422 shares of the gold and copper producer's stock, valued at approximately $321,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its position in 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 worth $62,000 after purchasing an additional 563 shares during the period. Kestra Private Wealth Services LLC lifted its position in 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 worth $558,000 after purchasing an additional 710 shares during the period. Nicholas Hoffman & Company LLC. lifted its position in 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 worth $924,000 after purchasing an additional 716 shares during the period. Wedbush Securities Inc. lifted its position in Barrick Mining by 5.9% in the first quarter. Wedbush Securities Inc. now owns 18,629 shares of the gold and copper producer's stock worth $362,000 after purchasing an additional 1,031 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in Barrick Mining by 0.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 287,668 shares of the gold and copper producer's stock worth $5,592,000 after purchasing an additional 1,035 shares during the period. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Citigroup upped their target price on Barrick Mining from $21.00 to $38.00 and gave the stock a "neutral" rating in a research report on Wednesday. Cibc World Mkts upgraded Barrick Mining from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 12th. Bank of America increased their price objective on Barrick Mining from $36.00 to $38.00 and gave the company a "neutral" rating in a research report on Thursday. Raymond James Financial set a $40.00 price objective on Barrick Mining and gave the company an "outperform" rating in a research report on Friday, October 10th. Finally, TD Securities increased their price objective on Barrick Mining from $38.00 to $46.00 and gave the company a "buy" rating in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $41.00.

Barrick Mining Price Performance

Shares of NYSE:B opened at $33.41 on Friday. The stock has a fifty day moving average of $29.71 and a 200-day moving average of $23.43. The company has a market capitalization of $56.88 billion, a PE ratio of 21.01, a price-to-earnings-growth ratio of 0.58 and a beta of 0.30. Barrick Mining Corporation has a one year low of $15.11 and a one year high of $36.40. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.53 and a current ratio of 3.21.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released 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 analyst estimates of $3.60 billion. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The company's revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 earnings per share. As a group, equities analysts anticipate that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a $0.15 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.8%. Barrick Mining's dividend payout ratio is presently 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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