Whitener Capital Management Inc. Purchases Shares of 68,864 Barrick Mining Corporation $B

Key Points

• Whitener Capital Management Inc. acquired 68,864 shares of Barrick Mining Corporation, valued at approximately $1.43 million, during the 2nd quarter.
• The company's stock has shown a price range between a 12-month low of $15.11 and a 12-month high of $33.20, with a recent trading price of $32.99.
• Barrick Mining reported a revenue of $3.72 billion for the last quarter, exceeding analysts' expectations, and plans to maintain a $0.60 annualized dividend with a payout ratio of 37.74%.

Whitener Capital Management Inc. bought a new stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 68,864 shares of the gold and copper producer's stock, valued at approximately $1,434,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in 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 buying an additional 502,762 shares during the last quarter. TD Asset Management Inc lifted its holdings in shares of Barrick Mining by 1.6% in 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 acquiring an additional 275,015 shares during the last quarter. Mackenzie Financial Corp raised its holdings in Barrick Mining by 1.9% in the 1st quarter. Mackenzie Financial Corp now owns 15,614,848 shares of the gold and copper producer's stock valued at $303,161,000 after buying an additional 296,472 shares during the last quarter. Ruffer LLP raised its holdings in Barrick Mining by 1.5% during the 1st 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. Finally, ANTIPODES PARTNERS Ltd raised its holdings in Barrick Mining by 0.6% during the 1st 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 last quarter. Institutional investors own 90.82% of the company's stock.

Barrick Mining Price Performance

B opened at $32.99 on Friday. The stock has a fifty day simple moving average of $24.84 and a two-hundred day simple moving average of $21.40. The company has a current ratio of 3.21, a quick ratio of 2.53 and a debt-to-equity ratio of 0.14. The company has a market cap of $56.18 billion, a price-to-earnings ratio of 20.75, a price-to-earnings-growth ratio of 0.58 and a beta of 0.28. Barrick Mining Corporation has a 12-month low of $15.11 and a 12-month high of $33.20.

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 EPS for the quarter, meeting the consensus estimate 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 analysts' expectations of $3.60 billion. During the same period last year, the firm posted $0.32 earnings per share. Barrick Mining's revenue was up 16.4% compared to the same quarter last year. Research analysts predict that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

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

Analyst Ratings Changes

B has been the topic of a number of analyst reports. Scotiabank lifted their price objective on shares of Barrick Mining from $25.00 to $26.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 13th. Zacks Research downgraded shares of Barrick Mining from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. Bank of America lifted their price objective on shares of Barrick Mining from $29.00 to $34.00 and gave the stock a "neutral" rating in a report on Friday. Raymond James Financial set a $32.00 price objective on shares of Barrick Mining in a report on Thursday. Finally, UBS Group lifted their price objective on shares of Barrick Mining from $26.00 to $35.00 and gave the stock a "buy" rating in a report on Friday. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and six have issued 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 target price of $28.78.

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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