MQS Management LLC Acquires New Stake in Barrick Mining Corporation (NYSE:B)

MQS Management LLC acquired a new stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 37,142 shares of the gold and copper producer's stock, valued at approximately $722,000.

Several other institutional investors have also modified their holdings of the stock. New York State Common Retirement Fund raised its holdings in shares of Barrick Mining by 15.5% in the first quarter. New York State Common Retirement Fund now owns 194,806 shares of the gold and copper producer's stock worth $3,787,000 after buying an additional 26,170 shares during the period. Sage Rhino Capital LLC raised its holdings in shares of Barrick Mining by 3.7% in the first quarter. Sage Rhino Capital LLC now owns 32,635 shares of the gold and copper producer's stock worth $634,000 after buying an additional 1,165 shares during the period. Cerity Partners LLC raised its holdings in shares of Barrick Mining by 47.4% in the first quarter. Cerity Partners LLC now owns 136,786 shares of the gold and copper producer's stock worth $2,659,000 after buying an additional 44,002 shares during the period. Stratos Wealth Advisors LLC raised its holdings in shares of Barrick Mining by 16.4% in the first quarter. Stratos Wealth Advisors LLC now owns 23,015 shares of the gold and copper producer's stock worth $447,000 after buying an additional 3,250 shares during the period. Finally, Ninety One SA PTY Ltd purchased a new stake in shares of Barrick Mining in the first quarter worth approximately $474,000. 90.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Raymond James Financial increased their target price on Barrick Mining from $23.00 to $23.50 and gave the company an "outperform" rating in a research report on Monday, March 31st. Scotiabank upped their price objective on Barrick Mining from $20.00 to $22.00 and gave the stock a "sector perform" rating in a research note on Monday, April 14th. UBS Group raised their price objective on Barrick Mining from $22.00 to $25.00 and gave the company a "buy" rating in a research report on Friday, April 11th. National Bankshares reaffirmed an "outperform" rating on shares of Barrick Mining in a research report on Wednesday, April 2nd. Finally, CIBC raised their price objective on Barrick Mining from $22.00 to $24.00 and gave the company a "neutral" rating in a research report on Wednesday, June 11th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $24.05.

Barrick Mining Trading Up 0.7%

NYSE B traded up $0.15 on Friday, reaching $21.22. 8,632,540 shares of the company were exchanged, compared to its average volume of 4,103,115. The business's fifty day moving average price is $19.97 and its 200 day moving average price is $18.59. The stock has a market capitalization of $36.38 billion, a P/E ratio of 15.95, a price-to-earnings-growth ratio of 0.34 and a beta of 0.28. The company has a current ratio of 2.87, a quick ratio of 2.16 and a debt-to-equity ratio of 0.14. Barrick Mining Corporation has a fifty-two week low of $17.41 and a fifty-two week high of $47.50.

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 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.06. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $3.15 billion. Barrick Mining had a return on equity of 7.51% and a net margin of 17.46%. The firm's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 earnings per share. Analysts forecast that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend was Friday, May 30th. Barrick Mining's dividend payout ratio (DPR) is presently 30.08%.

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.