Sava Infond d.o.o. Takes $1.71 Million Position in Barrick Mining Corporation $B

Key Points

• Sava Infond d.o.o. has acquired a new stake in Barrick Mining Corporation valued at approximately $1.71 million, acquiring 82,270 shares during the second quarter.
• Analysts have adjusted their ratings on Barrick Mining, with CIBC upgrading it to a "strong-buy", while Royal Bank of Canada raised their price target to $38.00.
• Barrick Mining reported a 16.4% year-over-year revenue increase in its latest earnings, achieving a net margin of 19.99% despite announcing a recent cut to its quarterly dividend.

Sava Infond d.o.o. acquired a new stake in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 82,270 shares of the gold and copper producer's stock, valued at approximately $1,713,000.

Other institutional investors have also recently modified their holdings of the company. Vermillion Wealth Management Inc. bought a new position in shares of Barrick Mining during the 2nd quarter valued at about $25,000. Crowley Wealth Management Inc. bought a new position in shares of Barrick Mining during the 2nd quarter valued at about $26,000. Ameriflex Group Inc. bought a new position in Barrick Mining during the 2nd quarter worth approximately $27,000. SJS Investment Consulting Inc. bought a new position in Barrick Mining during the 2nd quarter worth approximately $29,000. Finally, Cary Street Partners Investment Advisory LLC bought a new position in Barrick Mining during the 1st quarter worth approximately $32,000. 90.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

B has been the topic of several recent research reports. BMO Capital Markets restated a "market perform" rating on shares of Barrick Mining in a research report on Monday, September 22nd. CIBC restated an "outperform" rating on shares of Barrick Mining in a research report on Monday, September 22nd. Cibc World Mkts upgraded Barrick Mining from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 12th. National Bankshares upgraded Barrick Mining to an "outperform" rating in a research report on Monday, September 22nd. Finally, Royal Bank Of Canada raised 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. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $33.33.

Barrick Mining Trading Up 0.0%

NYSE B opened at $33.94 on Friday. Barrick Mining Corporation has a fifty-two week low of $15.11 and a fifty-two week high of $36.10. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.53 and a current ratio of 3.21. The stock has a 50 day simple moving average of $27.37 and a two-hundred day simple moving average of $22.44. The stock has a market cap of $57.78 billion, a P/E ratio of 21.34, a price-to-earnings-growth ratio of 0.56 and a beta of 0.30.

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 earnings per share for the quarter, hitting the consensus estimate of $0.47. The business had revenue of $3.72 billion during the quarter, compared to analysts' expectations of $3.60 billion. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The business's revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the business posted $0.32 EPS. On average, analysts forecast that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.8%. 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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