11,843 Shares in Barrick Mining Corporation (NYSE:B) Purchased by Lester Murray Antman dba SimplyRich

Key Points

• Lester Murray Antman, operating as SimplyRich, has invested $230,000 in Barrick Mining Corporation, acquiring 11,843 shares during the first quarter.
• Institutional investors now own approximately 90.82% of Barrick Mining's stock, with several other large investors also initiating new stakes in the company.
• Barrick Mining reported $0.35 earnings per share, exceeding analysts' expectations, with quarterly revenue reaching $3 billion, a 13.9% increase year-over-year.

Lester Murray Antman dba SimplyRich acquired a new position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 11,843 shares of the gold and copper producer's stock, valued at approximately $230,000.

Other large investors have also recently modified their holdings of the company. Vega Investment Solutions purchased a new position in Barrick Mining during the 4th quarter valued at about $31,000. Nexus Investment Management ULC purchased a new position in Barrick Mining during the 1st quarter valued at about $32,000. Cary Street Partners Investment Advisory LLC purchased a new position in Barrick Mining during the 1st quarter valued at about $32,000. Strategic Investment Solutions Inc. IL bought a new stake in Barrick Mining during the 4th quarter valued at approximately $37,000. Finally, Ameriflex Group Inc. bought a new stake in Barrick Mining during the 4th quarter valued at approximately $39,000. Hedge funds and other institutional investors own 90.82% of the company's stock.

Barrick Mining Price Performance

B stock traded up $0.36 during trading on Friday, reaching $23.43. The company's stock had a trading volume of 19,359,952 shares, compared to its average volume of 11,491,187. Barrick Mining Corporation has a 1 year low of $15.11 and a 1 year high of $23.54. The company has a quick ratio of 2.16, a current ratio of 2.87 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $39.97 billion, a P/E ratio of 17.62, a price-to-earnings-growth ratio of 0.36 and a beta of 0.27. The company's fifty day moving average is $21.17 and its 200-day moving average is $19.39.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released its quarterly earnings data on Wednesday, May 7th. The gold and copper producer reported $0.35 EPS for the quarter, beating the consensus estimate of $0.29 by $0.06. Barrick Mining had a net margin of 17.46% and a return on equity of 7.51%. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the prior year, the firm earned $0.19 EPS. The business's revenue was up 13.9% on a year-over-year basis. On average, research analysts expect that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. BMO Capital Markets assumed coverage on Barrick Mining in a research report on Wednesday, April 16th. They set a "market perform" rating on the stock. CIBC lifted their price objective on Barrick Mining from $24.00 to $28.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Scotiabank boosted their price target on Barrick Mining from $20.00 to $22.00 and gave the stock a "sector perform" rating in a research report on Monday, April 14th. UBS Group boosted their price target on Barrick Mining from $22.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Finally, Royal Bank Of Canada set a $26.00 price target on Barrick Mining and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $24.41.

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.