Vanguard Personalized Indexing Management LLC Buys Shares of 67,403 Barrick Mining Corporation $B

Key Points

• Vanguard Personalized Indexing Management LLC purchased 67,403 shares of Barrick Mining Corporation, valued at approximately $1.4 million, during the second quarter.
• The company reported a 16.4% year-over-year revenue increase to $3.72 billion for the last quarter, meeting analysts' earnings per share estimate of $0.47.
• Barrick Mining's stock has received upgrades from multiple research firms, with TD Securities raising their price target from $38.00 to $46.00 and maintaining a buy rating.

Vanguard Personalized Indexing Management LLC bought a new stake in 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 bought 67,403 shares of the gold and copper producer's stock, valued at approximately $1,403,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew 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 last quarter. TD Asset Management Inc grew 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 last quarter. Ninety One UK Ltd bought a new stake in shares of Barrick Mining during the second quarter worth about $326,862,000. Mackenzie Financial Corp grew 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 last quarter. Finally, Ruffer LLP grew 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 last quarter. 90.82% of the stock is currently owned by institutional investors.

Barrick Mining Price Performance

Shares of NYSE:B opened at $33.41 on Friday. 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 $36.40. The stock's 50 day moving average is $29.71 and its 200-day moving average is $23.43. The firm has a market capitalization of $56.88 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 0.58 and a beta of 0.30.

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 analysts' consensus estimates of $0.47. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same period in the prior year, the firm earned $0.32 earnings per share. Barrick Mining's revenue for the quarter was up 16.4% on a year-over-year basis. Sell-side analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The company 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 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, August 29th. Barrick Mining's dividend payout ratio is presently 37.74%.

Analyst Ratings Changes

Several research firms have recently weighed in on B. UBS Group boosted their price target on Barrick Mining from $35.00 to $39.00 and gave the stock a "buy" rating in a report on Thursday. TD Securities boosted their price target on Barrick Mining from $38.00 to $46.00 and gave the stock a "buy" rating in a report on Wednesday, October 8th. Citigroup upped their target price on Barrick Mining from $21.00 to $38.00 and gave the company a "neutral" rating in a report on Wednesday. Sanford C. Bernstein reiterated an "outperform" rating on shares of Barrick Mining in a report on Wednesday, September 24th. Finally, National Bankshares upgraded Barrick Mining to an "outperform" rating in a report on Monday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Barrick Mining has a consensus rating of "Moderate Buy" and an average target price of $41.00.

Barrick Mining 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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