Maj Invest Holding A S Buys Shares of 258,273 Barrick Mining Corporation $B

Key Points

• Maj Invest Holding A S acquired 258,273 shares of Barrick Mining Corporation, valued at approximately $5,377,000, making it the 21st largest position in their portfolio.
• Other major institutional investors also invested significantly in Barrick Mining during the second quarter, with TD Asset Management Inc leading with a position worth $386,328,000.
• Analysts have a consensus rating of Moderate Buy for Barrick Mining, with a consensus target price of $41.00.

Maj Invest Holding A S purchased a new stake in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 258,273 shares of the gold and copper producer's stock, valued at approximately $5,377,000. Barrick Mining comprises 0.2% of Maj Invest Holding A S's portfolio, making the stock its 21st largest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. TD Asset Management Inc purchased a new position in shares of Barrick Mining during the 2nd quarter worth approximately $386,328,000. Ninety One UK Ltd acquired a new position in Barrick Mining during the second quarter worth $326,862,000. Perpetual Ltd purchased a new position in shares of Barrick Mining during the second quarter worth $63,419,000. Assenagon Asset Management S.A. acquired a new stake in shares of Barrick Mining in the second quarter valued at $50,139,000. Finally, Euro Pacific Asset Management LLC purchased a new stake in shares of Barrick Mining in the 2nd quarter valued at $45,212,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. National Bankshares raised Barrick Mining to an "outperform" rating in a research note on Monday, September 22nd. Raymond James Financial set a $40.00 price target on shares of Barrick Mining and gave the stock an "outperform" rating in a research note on Friday, October 10th. Bank of America raised their price objective on shares of Barrick Mining from $36.00 to $38.00 and gave the company a "neutral" rating in a research note on Thursday, October 16th. BMO Capital Markets reaffirmed a "market perform" rating on shares of Barrick Mining in a research note on Monday, September 22nd. Finally, Sanford C. Bernstein reiterated an "outperform" rating on shares of Barrick Mining in a report on Wednesday, September 24th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $41.00.

Barrick Mining Trading Up 4.3%

Shares of NYSE:B opened at $34.75 on Tuesday. Barrick Mining Corporation has a 52 week low of $15.11 and a 52 week high of $36.40. The company's 50 day moving average is $29.95 and its two-hundred day moving average is $23.61. The company has a market cap of $59.18 billion, a PE ratio of 21.86, a P/E/G ratio of 0.42 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 issued its earnings results on Monday, August 11th. The gold and copper producer reported $0.47 EPS 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 firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.60 billion. During the same quarter in the previous 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 analysts predict that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, August 29th. This represents a $0.60 annualized dividend and a yield of 1.7%. Barrick Mining's payout ratio is presently 37.74%.

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.

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