Lester Murray Antman dba SimplyRich Takes $246,000 Position in Barrick Mining Corporation $B

Key Points

• Lester Murray Antman, doing business as SimplyRich, has acquired a new stake in Barrick Mining Corporation worth approximately $246,000, purchasing 11,843 shares in the second quarter.
• Barrick Mining recently reported earnings of $0.47 per share, meeting analysts' estimates, with revenue of $3.72 billion, indicating a 16.4% increase compared to the same quarter last year.
• The company has faced scrutiny as it declared a quarterly dividend of $0.15, with a dividend yield of 1.8%, reflecting ongoing adjustments in investor sentiment and market conditions.

Lester Murray Antman dba SimplyRich 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 11,843 shares of the gold and copper producer's stock, valued at approximately $246,000.

Several other institutional investors have also modified their holdings of B. Vermillion Wealth Management Inc. purchased a new stake in shares of Barrick Mining in the second quarter worth approximately $25,000. Crowley Wealth Management Inc. purchased a new stake in shares of Barrick Mining in the second quarter worth approximately $26,000. Ameriflex Group Inc. purchased a new stake in shares of Barrick Mining in the second quarter worth approximately $27,000. Trifecta Capital Advisors LLC purchased a new stake in shares of Barrick Mining in the second quarter worth approximately $27,000. Finally, SJS Investment Consulting Inc. purchased a new stake in shares of Barrick Mining in the second quarter worth approximately $29,000. 90.82% of the stock is owned by institutional investors.

Barrick Mining Trading Down 1.0%

Shares of NYSE:B opened at $32.73 on Friday. Barrick Mining Corporation has a 12-month low of $15.11 and a 12-month high of $36.10. The business's fifty day simple moving average is $28.58 and its 200-day simple moving average is $22.93. The company has a market capitalization of $55.72 billion, a PE ratio of 20.58, a P/E/G ratio of 0.54 and a beta of 0.30. The company has a current ratio of 3.21, a quick ratio of 2.53 and a debt-to-equity ratio of 0.14.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last announced its quarterly 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. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The business had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.60 billion. During the same period last year, the business posted $0.32 EPS. The business's revenue was up 16.4% compared to the same quarter last year. As a group, equities research analysts predict that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The business also recently declared 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 (DPR) is currently 37.74%.

Analysts Set New Price Targets

B has been the topic of several recent analyst reports. Cibc World Mkts upgraded Barrick Mining from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 12th. Scotiabank raised their price objective on Barrick Mining from $25.00 to $26.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 13th. Royal Bank Of Canada raised their price objective on Barrick Mining from $34.00 to $38.00 and gave the stock an "outperform" rating in a report on Monday, September 22nd. CIBC raised their price objective on Barrick Mining from $38.00 to $50.00 and gave the stock an "outperformer" rating in a report on Friday. Finally, UBS Group raised their price objective on Barrick Mining from $26.00 to $35.00 and gave the stock a "buy" rating in a report on Friday, September 19th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $38.10.

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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