Signaturefd LLC Makes New Investment in Barrick Mining Corporation $B

Key Points

• Signaturefd LLC has acquired a new stake in Barrick Mining Corporation, purchasing 30,773 shares valued at approximately $641,000 in the second quarter.
• Several large investors are increasing their positions in Barrick Mining, with institutional investors and hedge funds owning 90.82% of the company's stock.
• Analysts have raised their price targets for Barrick Mining, with a consensus average price target now at $33.33, reflecting a generally positive outlook for the stock.

Signaturefd LLC bought a new stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 30,773 shares of the gold and copper producer's stock, valued at approximately $641,000.

Several other large investors have also made changes to their positions in B. Crowley Wealth Management Inc. bought a new position in Barrick Mining in the second quarter valued at about $26,000. SJS Investment Consulting Inc. acquired a new position in Barrick Mining during the 2nd quarter valued at about $29,000. Cary Street Partners Investment Advisory LLC bought a new position in shares of Barrick Mining in the 1st quarter valued at about $32,000. AdvisorNet Financial Inc acquired a new stake in shares of Barrick Mining during the 2nd quarter worth approximately $39,000. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of Barrick Mining by 55.8% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 2,193 shares of the gold and copper producer's stock worth $43,000 after buying an additional 785 shares during the period. Institutional investors and hedge funds own 90.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Royal Bank Of Canada raised their price objective on shares of Barrick Mining from $34.00 to $38.00 and gave the company an "outperform" rating in a research note on Monday, September 22nd. UBS Group raised their price target on Barrick Mining from $26.00 to $35.00 and gave the stock a "buy" rating in a research report on Friday, September 19th. TD Securities upped their price objective on Barrick Mining from $30.00 to $38.00 and gave the company a "buy" rating in a report on Monday, September 22nd. BMO Capital Markets reissued a "market perform" rating on shares of Barrick Mining in a research note on Monday, September 22nd. Finally, Bank of America raised their target price on Barrick Mining from $29.00 to $34.00 and gave the stock a "neutral" rating in a report on Friday, September 19th. Two equities research 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $33.33.

Barrick Mining Stock Performance

B stock opened at $32.78 on Wednesday. Barrick Mining Corporation has a 1-year low of $15.11 and a 1-year 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 $55.82 billion, a PE ratio of 20.62, a P/E/G ratio of 0.58 and a beta of 0.28. The business's 50-day moving average price is $26.64 and its two-hundred day moving average price is $22.15.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released its quarterly earnings results on Monday, August 11th. The gold and copper producer reported $0.47 EPS for the quarter, hitting analysts' consensus estimates of $0.47. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same quarter last year, the firm posted $0.32 earnings per share. Barrick Mining's revenue was up 16.4% compared to the same quarter last year. As a group, research analysts forecast that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given 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 payout ratio is currently 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.

Want to see what other hedge funds are holding B? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.