Uncommon Cents Investing LLC Purchases Shares of 116,850 Barrick Mining Corporation $B

Key Points

• Uncommon Cents Investing LLC acquired 116,850 shares of Barrick Mining Corporation, valued at approximately $2.43 million, marking a significant investment in the gold and copper producer in the second quarter.
• After recently declaring a quarterly dividend of $0.15 per share, Barrick Mining's annualized dividend amounts to $0.60 with a yield of 1.7%.
• Analysts are optimistic about the company's future, with several firms raising their price target on Barrick Mining, indicating a generally positive outlook with an average target price of $33.33.

Uncommon Cents Investing LLC bought a new position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 116,850 shares of the gold and copper producer's stock, valued at approximately $2,433,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC grew its position in shares of Barrick Mining by 14.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 73,636 shares of the gold and copper producer's stock worth $1,141,000 after buying an additional 9,149 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in shares of Barrick Mining by 55.8% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 2,193 shares of the gold and copper producer's stock worth $43,000 after purchasing an additional 785 shares during the last quarter. Versant Capital Management Inc acquired a new position in shares of Barrick Mining during the 1st quarter worth approximately $97,000. Moody National Bank Trust Division acquired a new position in shares of Barrick Mining during the 1st quarter worth approximately $201,000. Finally, GAMMA Investing LLC increased its holdings in shares of Barrick Mining by 1,844.0% during the 1st quarter. GAMMA Investing LLC now owns 6,007 shares of the gold and copper producer's stock worth $117,000 after acquiring an additional 5,698 shares during the last quarter. 90.82% of the stock is owned by institutional investors.

Barrick Mining Trading Up 0.6%

NYSE B opened at $34.47 on Friday. The stock has a market cap of $58.70 billion, a P/E ratio of 21.68, a price-to-earnings-growth ratio of 0.60 and a beta of 0.28. 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 50 day simple moving average of $26.18 and a two-hundred day simple moving average of $21.96. Barrick Mining Corporation has a fifty-two week low of $15.11 and a fifty-two week high of $36.10.

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

Barrick Mining Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, August 29th. Barrick Mining's payout ratio is currently 37.74%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Royal Bank Of Canada upped their target price on Barrick Mining from $34.00 to $38.00 and gave the company an "outperform" rating in a research report on Monday, September 22nd. Cibc World Mkts raised Barrick Mining from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 12th. National Bankshares raised Barrick Mining to an "outperform" rating in a research note on Monday, September 22nd. Bank of America raised their target price on Barrick Mining from $29.00 to $34.00 and gave the company a "neutral" rating in a report on Friday, September 19th. Finally, UBS Group lifted their price target on Barrick Mining from $26.00 to $35.00 and gave the stock a "buy" rating in a report on Friday, September 19th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Barrick Mining currently has an average rating of "Moderate Buy" and an average target price of $33.33.

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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