Sage Rhino Capital LLC Invests $681,000 in Barrick Mining Corporation $B

Key Points

• Sage Rhino Capital LLC invested $681,000 in Barrick Mining Corporation, acquiring 32,693 shares in the second quarter.
• Major firms like Royal Bank of Canada and Raymond James Financial have raised their target prices for Barrick Mining, indicating a positive outlook for the stock.
• Barrick Mining recently cut its dividend to $0.15 per share, reflecting a 37.74% dividend payout ratio.

Sage Rhino Capital LLC purchased a new position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 32,693 shares of the gold and copper producer's stock, valued at approximately $681,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in B. Penserra Capital Management LLC lifted its stake in Barrick Mining by 1,919.0% in the first quarter. Penserra Capital Management LLC now owns 2,968 shares of the gold and copper producer's stock worth $56,000 after purchasing an additional 2,821 shares during the last quarter. Hedges Asset Management LLC purchased a new stake in shares of Barrick Mining in the second quarter worth approximately $1,249,000. Chemistry Wealth Management LLC bought a new stake in shares of Barrick Mining during the 2nd quarter worth approximately $246,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Barrick Mining by 14.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 73,636 shares of the gold and copper producer's stock valued at $1,141,000 after acquiring an additional 9,149 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its holdings in Barrick Mining by 24.4% during the 1st quarter. Sequoia Financial Advisors LLC now owns 20,795 shares of the gold and copper producer's stock valued at $404,000 after acquiring an additional 4,082 shares during the period. 90.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on B. Royal Bank Of Canada increased their target price on Barrick Mining from $34.00 to $38.00 and gave the stock an "outperform" rating in a research note on Monday, September 22nd. Wall Street Zen cut shares of Barrick Mining from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Raymond James Financial raised their price target on shares of Barrick Mining from $32.00 to $36.00 and gave the stock an "outperform" rating in a research note on Monday, September 22nd. Zacks Research cut shares of Barrick Mining from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 21st. Finally, BMO Capital Markets restated a "market perform" rating on shares of Barrick Mining in a research note on Monday, September 22nd. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.33.

Barrick Mining Stock Performance

B stock opened at $34.47 on Friday. Barrick Mining Corporation has a 1-year low of $15.11 and a 1-year high of $36.10. The business has a 50-day moving average price of $26.18 and a 200 day moving average price of $21.96. The company has a market capitalization of $58.70 billion, a P/E ratio of 21.68, a PEG ratio of 0.60 and a beta of 0.28. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.21 and a quick ratio of 2.53.

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 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.47. The company had revenue of $3.72 billion for the quarter, compared to analysts' expectations of $3.60 billion. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The firm's quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.32 EPS. As a group, equities research analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

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