Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. Invests $1.41 Million in Barrick Mining Corporation $B

Key Points

• Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. has invested approximately $1.41 million in Barrick Mining Corporation, acquiring 68,000 shares, making it the firm’s 5th largest position at 6.7% of its portfolio.
• Despite the new investment, Barrick Mining's stock has decreased by 6.3%, opening at $33.41, with a market capitalization of $56.88 billion.
• Analysts maintain a Moderate Buy consensus rating for Barrick Mining, with a target price average of $41.00, reflecting anticipated positive growth.

Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. purchased a new stake in shares of Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 68,000 shares of the gold and copper producer's stock, valued at approximately $1,410,000. Barrick Mining accounts for approximately 6.7% of Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.'s portfolio, making the stock its 5th largest position.

A number of other large investors also recently bought and sold shares of B. Vermillion Wealth Management Inc. purchased a new position in Barrick Mining during the 2nd quarter valued at about $25,000. Crowley Wealth Management Inc. purchased a new position in Barrick Mining during the 2nd quarter valued at about $26,000. Concord Wealth Partners purchased a new position in Barrick Mining during the 2nd quarter valued at about $26,000. Ameriflex Group Inc. purchased a new position in Barrick Mining during the 2nd quarter valued at about $27,000. Finally, Trifecta Capital Advisors LLC purchased a new position in Barrick Mining during the 2nd quarter valued at about $27,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Mining Stock Down 6.3%

Shares of Barrick Mining stock opened at $33.41 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 company has a 50-day simple moving average of $29.71 and a two-hundred day simple moving average of $23.43. Barrick Mining Corporation has a 52-week low of $15.11 and a 52-week high of $36.40. The stock has a market capitalization of $56.88 billion, a PE ratio of 21.01, a price-to-earnings-growth ratio of 0.58 and a beta of 0.30.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last released its quarterly earnings data on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share for the quarter, meeting 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 during the quarter, compared to analysts' expectations of $3.60 billion. During the same period in the previous year, the company earned $0.32 earnings per share. The firm's quarterly revenue was up 16.4% on a year-over-year basis. On average, analysts anticipate that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued 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 payout ratio is presently 37.74%.

Wall Street Analysts Forecast Growth

B has been the subject of a number of recent research reports. Raymond James Financial set a $40.00 price target on shares of Barrick Mining and gave the company an "outperform" rating in a research report on Friday, October 10th. Bank of America lifted their price target on shares of Barrick Mining from $36.00 to $38.00 and gave the company a "neutral" rating in a research report on Thursday. National Bankshares raised shares of Barrick Mining to an "outperform" rating in a report on Monday, September 22nd. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Barrick Mining in a report on Wednesday, September 24th. Finally, UBS Group lifted their target price on shares of Barrick Mining from $35.00 to $39.00 and gave the stock a "buy" rating in a report on Thursday. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Barrick Mining has a consensus rating of "Moderate Buy" and a consensus target price of $41.00.

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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