Thurston Springer Miller Herd & Titak Inc. Invests $464,000 in Barrick Mining Corporation $B

Key Points

• Thurston Springer Miller Herd & Titak Inc. has invested $464,000 in Barrick Mining Corporation, acquiring 22,313 shares in the second quarter.
• Barrick Mining reported a net margin of 19.99% for the latest quarter, with earnings per share of $0.47, meeting analysts' estimates.
• Institutional investors own 90.82% of Barrick Mining's stock, indicating strong institutional interest in the company.

Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 22,313 shares of the gold and copper producer's stock, valued at approximately $464,000.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Barrick Mining by 0.7% during the first quarter. Vanguard Group Inc. now owns 68,861,295 shares of the gold and copper producer's stock worth $1,337,012,000 after purchasing an additional 502,762 shares during the period. TD Asset Management Inc lifted its holdings in shares of Barrick Mining by 1.6% during the first quarter. TD Asset Management Inc now owns 17,950,892 shares of the gold and copper producer's stock worth $348,479,000 after purchasing an additional 275,015 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Barrick Mining by 1.9% during the first quarter. Mackenzie Financial Corp now owns 15,614,848 shares of the gold and copper producer's stock worth $303,161,000 after purchasing an additional 296,472 shares during the period. Ruffer LLP lifted its holdings in shares of Barrick Mining by 1.5% during the first quarter. Ruffer LLP now owns 10,426,795 shares of the gold and copper producer's stock worth $202,701,000 after purchasing an additional 156,947 shares during the period. Finally, ANTIPODES PARTNERS Ltd lifted its holdings in shares of Barrick Mining by 0.6% during the first quarter. ANTIPODES PARTNERS Ltd now owns 10,112,758 shares of the gold and copper producer's stock worth $196,608,000 after purchasing an additional 61,298 shares during the period. Institutional investors and hedge funds own 90.82% of the company's stock.

Barrick Mining Trading Up 0.0%

B opened at $29.04 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.21 and a quick ratio of 2.53. Barrick Mining Corporation has a fifty-two week low of $15.11 and a fifty-two week high of $29.79. The firm has a market capitalization of $49.45 billion, a PE ratio of 18.26, a P/E/G ratio of 0.54 and a beta of 0.27. The company's 50-day moving average is $24.09 and its 200 day moving average is $21.08.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its earnings results on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share for the quarter, hitting analysts' consensus estimates of $0.47. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same quarter in the prior year, the business posted $0.32 EPS. The firm's revenue was up 16.4% compared to the same quarter last year. As a group, research analysts predict that Barrick Mining Corporation will post 1.47 earnings per share 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 given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Friday, August 29th. Barrick Mining's dividend payout ratio is presently 37.74%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on B. Cibc World Mkts upgraded shares of Barrick Mining from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 12th. Royal Bank Of Canada set a $26.00 target price on shares of Barrick Mining and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Zacks Research lowered shares of Barrick Mining from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. Scotiabank upped their price objective on shares of Barrick Mining from $25.00 to $26.00 and gave the company a "sector perform" rating in a report on Wednesday, August 13th. Finally, Raymond James Financial reiterated an "outperform" rating on shares of Barrick Mining in a report on Friday. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $24.94.

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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