Phraction Management LLC Invests $708,000 in Barrick Mining Corporation $B

Key Points

• Phraction Management LLC has made a new investment in Barrick Mining Corporation, acquiring 34,000 shares valued at approximately $708,000 during the 2nd quarter.
• Barrick Mining's recent earnings report showed a 16.4% increase in quarterly revenue year-over-year, meeting EPS expectations at $0.47.
• The company has declared a quarterly dividend of $0.15, indicating an annualized dividend yield of 1.8%, while the dividend payout ratio stands at 37.74%.

Phraction Management LLC bought a new stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 34,000 shares of the gold and copper producer's stock, valued at approximately $708,000.

Other hedge funds also recently made changes to their positions in the company. Cromwell Holdings LLC bought a new stake in shares of Barrick Mining in the second quarter worth $64,000. FengHe Fund Management Pte. Ltd. acquired a new stake in Barrick Mining in the 2nd quarter valued at $20,435,000. Gold Investment Management Ltd. bought a new stake in Barrick Mining during the 2nd quarter worth about $298,000. New Wave Wealth Advisors LLC bought a new stake in Barrick Mining during the 2nd quarter worth about $217,000. Finally, Chelsea Counsel Co. acquired a new position in shares of Barrick Mining during the 2nd quarter worth about $680,000. 90.82% of the stock is owned by institutional investors.

Barrick Mining Stock Up 0.6%

B stock opened at $33.92 on Friday. The business's 50 day simple moving average is $27.13 and its 200 day simple moving average is $22.34. Barrick Mining Corporation has a 1-year low of $15.11 and a 1-year high of $36.10. The firm has a market capitalization of $57.76 billion, a PE ratio of 21.33, a PEG ratio of 0.56 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 released its quarterly earnings data on Monday, August 11th. The gold and copper producer reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. The firm had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.60 billion. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The company's quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.32 earnings per share. As a group, research analysts anticipate that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, August 29th. Barrick Mining's dividend payout ratio is currently 37.74%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Barrick Mining in a research report on Wednesday, September 24th. Royal Bank Of Canada boosted their price target on Barrick Mining from $34.00 to $38.00 and gave the stock an "outperform" rating in a research report on Monday, September 22nd. Raymond James Financial increased their price objective on Barrick Mining from $32.00 to $36.00 and gave the company an "outperform" rating in a report on Monday, September 22nd. National Bankshares upgraded shares of Barrick Mining to an "outperform" rating in a report on Monday, September 22nd. Finally, TD Securities upped their price target on shares of Barrick Mining from $30.00 to $38.00 and gave the stock a "buy" rating in a research report on Monday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $33.33.

Barrick Mining Company 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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