TD Asset Management Inc Buys Shares of 18,594,184 Barrick Mining Corporation $B

Key Points

• TD Asset Management Inc has acquired a significant stake in Barrick Mining Corporation, purchasing 18,594,184 shares valued at approximately $386 million, representing about 1.09% ownership.
• Barrick Mining reported a quarterly earnings per share (EPS) of $0.47, meeting analysts' estimates, with revenues of $3.72 billion, up 16.4% year-over-year.
• The company recently cut its dividend, now paying a quarterly amount of $0.15, which translates to an annual yield of 1.8%.

TD Asset Management Inc bought a new stake 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 fund bought 18,594,184 shares of the gold and copper producer's stock, valued at approximately $386,328,000. TD Asset Management Inc owned about 1.09% of Barrick Mining at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of B. GAMMA Investing LLC increased its stake in shares of Barrick Mining by 1,844.0% in the 1st quarter. GAMMA Investing LLC now owns 6,007 shares of the gold and copper producer's stock worth $117,000 after purchasing an additional 5,698 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Barrick Mining by 21.8% in the 1st quarter. Farther Finance Advisors LLC now owns 3,146 shares of the gold and copper producer's stock worth $62,000 after purchasing an additional 563 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Barrick Mining by 28.9% in the 1st quarter. Fifth Third Bancorp now owns 5,644 shares of the gold and copper producer's stock worth $110,000 after purchasing an additional 1,266 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Barrick Mining by 1.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 74,792 shares of the gold and copper producer's stock worth $1,454,000 after purchasing an additional 1,156 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in shares of Barrick Mining by 3,816.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 163,639 shares of the gold and copper producer's stock worth $3,181,000 after purchasing an additional 159,461 shares in the last quarter. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Mining Trading Up 2.0%

Shares of Barrick Mining stock opened at $33.39 on Tuesday. The firm has a market cap of $56.86 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 0.53 and a beta of 0.30. The business has a 50-day moving average price of $28.81 and a 200-day moving average price of $23.08. The company has a quick ratio of 2.53, a current ratio of 3.21 and a debt-to-equity ratio of 0.14. Barrick Mining Corporation has a twelve month low of $15.11 and a twelve month high of $36.10.

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

Barrick Mining Cuts Dividend

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

Analyst Ratings Changes

Several research firms have recently commented on B. UBS Group upped their price objective on Barrick Mining from $26.00 to $35.00 and gave the stock a "buy" rating in a research note on Friday, September 19th. Scotiabank upped their price objective on Barrick Mining from $25.00 to $26.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 13th. Canaccord Genuity Group increased their price target on Barrick Mining from $39.00 to $57.00 and gave the stock a "buy" rating in a research note on Thursday, October 9th. Raymond James Financial set a $40.00 price target on Barrick Mining and gave the stock an "outperform" rating in a research note on Friday. Finally, National Bank Financial upgraded Barrick Mining from a "sector perform" rating to an "outperform" rating in a research note on Monday, September 22nd. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $38.10.

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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