Public Employees Retirement System of Ohio Acquires New Position in Barrick Mining Corporation $B

Key Points

• The Public Employees Retirement System of Ohio purchased a new stake in Barrick Mining Corporation, acquiring 368,489 shares valued at approximately $7.7 million in the second quarter.
• Equities analysts have raised price targets for Barrick Mining, with UBS Group increasing theirs from $26 to $35, and TD Securities raising theirs from $30 to $38, indicating positive market sentiment.
• Barrick Mining recently declared a quarterly dividend of $0.15, resulting in an annualized dividend of $0.60 and a yield of 1.7%, amidst a dividend payout ratio of 37.74%.

Public Employees Retirement System of Ohio acquired a new stake in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 368,489 shares of the gold and copper producer's stock, valued at approximately $7,657,000.

Several other institutional investors and hedge funds have also modified their holdings of B. SJS Investment Consulting Inc. purchased a new position in shares of Barrick Mining during the second quarter valued at approximately $29,000. Cary Street Partners Investment Advisory LLC purchased a new position in Barrick Mining during the first quarter worth approximately $32,000. AdvisorNet Financial Inc purchased a new position in Barrick Mining during the second quarter worth approximately $39,000. MassMutual Private Wealth & Trust FSB raised its stake in Barrick Mining by 55.8% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 2,193 shares of the gold and copper producer's stock worth $43,000 after purchasing an additional 785 shares during the period. Finally, Financial Management Professionals Inc. raised its stake in Barrick Mining by 94.5% during the first quarter. Financial Management Professionals Inc. now owns 2,433 shares of the gold and copper producer's stock worth $47,000 after purchasing an additional 1,182 shares during the period. Hedge funds and other institutional investors own 90.82% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. UBS Group increased their price target on shares of Barrick Mining from $26.00 to $35.00 and gave the stock a "buy" rating in a research note on Friday, September 19th. Scotiabank increased their price target on shares of Barrick Mining from $25.00 to $26.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 13th. TD Securities increased their price target on shares of Barrick Mining from $30.00 to $38.00 and gave the stock a "buy" rating in a research note on Monday, September 22nd. National Bank Financial raised shares of Barrick Mining from a "sector perform" rating to an "outperform" rating in a research note on Monday, September 22nd. Finally, Wall Street Zen lowered shares of Barrick Mining from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $33.33.

Barrick Mining Price Performance

B opened at $34.47 on Friday. Barrick Mining Corporation has a twelve month low of $15.11 and a twelve month high of $36.10. The company has a current ratio of 3.21, a quick ratio of 2.53 and a debt-to-equity ratio of 0.14. The firm has a market cap of $58.70 billion, a price-to-earnings ratio of 21.68, a PEG ratio of 0.60 and a beta of 0.28. The company has a fifty day simple moving average of $26.18 and a 200 day simple moving average of $21.96.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its quarterly earnings data on Monday, August 11th. The gold and copper producer reported $0.47 EPS for the quarter, meeting 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 for the quarter, compared to the consensus estimate of $3.60 billion. During the same period in the prior year, the firm posted $0.32 EPS. The firm's revenue was up 16.4% compared to the same quarter last year. Equities research analysts expect that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, August 29th. Barrick Mining's dividend payout ratio (DPR) is presently 37.74%.

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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