Pacific Sage Partners LLC Takes $227,000 Position in Barrick Mining Corporation $B

Key Points

• Pacific Sage Partners LLC purchased a new stake in Barrick Mining Corporation, acquiring approximately 10,914 shares valued at $227,000 in the second quarter.
• Recent analyst upgrades have seen target prices for Barrick Mining raised, with Royal Bank of Canada setting a new target at $38.00 and maintaining an "outperform" rating.
• Barrick Mining reported a net margin of 19.99% and earnings of $0.47 per share, meeting analyst expectations while showing a 16.4% revenue increase year-over-year.

Pacific Sage Partners LLC bought a new position 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 institutional investor bought 10,914 shares of the gold and copper producer's stock, valued at approximately $227,000.

A number of other institutional investors also recently modified their holdings of B. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Barrick Mining by 37.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,438,944 shares of the gold and copper producer's stock worth $22,304,000 after purchasing an additional 390,531 shares during the period. Forum Financial Management LP purchased a new stake in shares of Barrick Mining during the fourth quarter worth about $213,000. Ameriflex Group Inc. purchased a new stake in shares of Barrick Mining during the fourth quarter worth about $39,000. Park Square Financial Group LLC purchased a new stake in shares of Barrick Mining during the fourth quarter worth about $71,000. Finally, Aegis Wealth Management LLC purchased a new stake in shares of Barrick Mining during the fourth quarter worth about $186,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on B shares. Royal Bank Of Canada increased their target price on shares of Barrick Mining from $34.00 to $38.00 and gave the stock an "outperform" rating in a report on Monday. Scotiabank raised their price objective on shares of Barrick Mining from $25.00 to $26.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 13th. Wall Street Zen lowered shares of Barrick Mining from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Bank of America raised their price objective on shares of Barrick Mining from $29.00 to $34.00 and gave the stock a "neutral" rating in a report on Friday, September 19th. Finally, TD Securities raised their price objective on shares of Barrick Mining from $30.00 to $38.00 and gave the stock a "buy" rating in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $33.33.

Barrick Mining Price Performance

B stock opened at $33.61 on Thursday. The firm has a 50 day moving average price of $25.64 and a 200-day moving average price of $21.71. Barrick Mining Corporation has a 52-week low of $15.11 and a 52-week high of $36.10. The firm has a market capitalization of $57.23 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 0.61 and a beta of 0.28. 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 the consensus estimate 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 analyst estimates of $3.60 billion. During the same period last year, the business earned $0.32 earnings per share. The business's revenue was up 16.4% on a year-over-year basis. Equities research analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.60 annualized dividend and a dividend yield of 1.8%. Barrick Mining's dividend payout ratio (DPR) is 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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