SSA Swiss Advisors AG Invests $3.35 Million in Barrick Mining Corporation $B

Key Points

• SSA Swiss Advisors AG has invested approximately $3.35 million in Barrick Mining Corporation, acquiring 154,200 shares, which now represent 1.6% of its investment portfolio.
• Barrick Mining reported $0.47 earnings per share for the last quarter, matching analysts' expectations, with a 16.4% increase in year-over-year revenue.
• Several analysts have recently upgraded Barrick Mining’s target price, with estimates ranging up to $46.00, and the stock currently holds an average rating of "Moderate Buy."

SSA Swiss Advisors AG 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 filing with the Securities and Exchange Commission. The institutional investor purchased 154,200 shares of the gold and copper producer's stock, valued at approximately $3,354,000. Barrick Mining accounts for 1.6% of SSA Swiss Advisors AG's investment portfolio, making the stock its 24th biggest holding.

Other hedge funds have also modified their holdings of the company. Vermillion Wealth Management Inc. purchased a new position in shares of Barrick Mining during the 2nd quarter worth $25,000. Crowley Wealth Management Inc. acquired a new position in Barrick Mining during the 2nd quarter worth about $26,000. Concord Wealth Partners acquired a new position in Barrick Mining during the 2nd quarter worth about $26,000. Ameriflex Group Inc. acquired a new position in Barrick Mining during the 2nd quarter worth about $27,000. Finally, Trifecta Capital Advisors LLC acquired a new position in Barrick Mining during the 2nd quarter worth about $27,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Mining Price Performance

B stock opened at $32.51 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.21 and a quick ratio of 2.53. The firm has a market capitalization of $55.35 billion, a P/E ratio of 20.44, a P/E/G ratio of 0.40 and a beta of 0.30. The business's 50-day moving average is $30.59 and its two-hundred day moving average is $23.92. Barrick Mining Corporation has a 1 year low of $15.11 and a 1 year high of $36.40.

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 for the quarter, hitting the consensus estimate of $0.47. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same quarter last year, the company earned $0.32 EPS. The business's quarterly revenue was up 16.4% on a year-over-year basis. Analysts anticipate that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, August 29th. Barrick Mining's dividend payout ratio (DPR) is 37.74%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. TD Securities increased their target price on Barrick Mining from $38.00 to $46.00 and gave the stock a "buy" rating in a research note on Wednesday, October 8th. 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. Scotiabank raised Barrick Mining from a "sector perform" rating to a "sector outperform" rating and increased their target price for the stock from $27.50 to $43.00 in a research note on Thursday. National Bankshares raised Barrick Mining to an "outperform" rating in a research note on Monday, September 22nd. Finally, Cibc World Mkts raised Barrick Mining from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 12th. Two research 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 stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $42.70.

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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