Smith Group Asset Management LLC Invests $1.67 Million in Barrick Mining Corporation $B

Key Points

• Smith Group Asset Management LLC invested approximately $1.67 million by acquiring 80,000 shares of Barrick Mining Corporation in Q2.
• Barrick Mining reported a quarterly earnings per share (EPS) of $0.47, exceeding analysts' expectations and showing a 16.4% year-over-year revenue growth.
• The company's recent dividend payout was $0.15, contributing to a 1.9% dividend yield.

Smith Group Asset Management LLC bought a new position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 80,000 shares of the gold and copper producer's stock, valued at approximately $1,666,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Penserra Capital Management LLC boosted its stake in Barrick Mining by 1,919.0% in the 1st 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 in the last quarter. Hedges Asset Management LLC bought a new position in Barrick Mining in the 2nd quarter worth about $1,249,000. Chemistry Wealth Management LLC bought a new position in Barrick Mining in the 2nd quarter worth about $246,000. Sequoia Financial Advisors LLC boosted its stake in Barrick Mining by 24.4% in the 1st quarter. Sequoia Financial Advisors LLC now owns 20,795 shares of the gold and copper producer's stock worth $404,000 after purchasing an additional 4,082 shares in the last quarter. Finally, Concurrent Investment Advisors LLC bought a new position in Barrick Mining in the 2nd quarter worth about $337,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Mining Price Performance

B opened at $31.96 on Friday. 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 market capitalization of $54.42 billion, a P/E ratio of 20.10, a P/E/G ratio of 0.39 and a beta of 0.30. The company's 50-day simple moving average is $30.43 and its two-hundred day simple moving average is $23.82. Barrick Mining Corporation has a 52-week low of $15.11 and a 52-week high of $36.40.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last issued 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. 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 analysts' expectations of $3.60 billion. During the same quarter in the prior year, the business earned $0.32 EPS. The business's quarterly revenue was up 16.4% on a year-over-year basis. As a group, analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Cuts Dividend

The firm also recently disclosed 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 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, August 29th. Barrick Mining's dividend payout ratio is 37.74%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on B shares. National Bankshares upgraded shares of Barrick Mining to an "outperform" rating in a research note on Monday, September 22nd. Wall Street Zen upgraded shares of Barrick Mining from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 11th. Raymond James Financial set a $40.00 price target on shares of Barrick Mining and gave the stock an "outperform" rating in a research note on Friday, October 10th. Royal Bank Of Canada upped their price target on shares of Barrick Mining from $34.00 to $38.00 and gave the stock an "outperform" rating in a research note on Monday, September 22nd. Finally, Zacks Research cut shares of Barrick Mining from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $42.70.

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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