XML Financial LLC Makes New Investment in Barrick Mining Corporation $B

Key Points

• XML Financial LLC has made a new investment in Barrick Mining Corporation, acquiring 50,975 shares valued at approximately $1,061,000 during the 2nd quarter.
• Institutional investors collectively own 90.82% of Barrick Mining's stock, indicating strong institutional interest in the company.
• Barrick Mining declared a quarterly dividend of $0.15 per share, which translates to an annualized dividend yield of 1.8%.

XML Financial LLC purchased a new position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 50,975 shares of the gold and copper producer's stock, valued at approximately $1,061,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in B. Perpetual Ltd bought a new position in Barrick Mining in the second quarter worth approximately $63,419,000. Assenagon Asset Management S.A. bought a new position in Barrick Mining in the second quarter worth approximately $50,139,000. Systrade AG bought a new position in Barrick Mining in the second quarter worth approximately $41,640,000. Ninety One UK Ltd boosted its holdings in Barrick Mining by 20.7% in the first quarter. Ninety One UK Ltd now owns 8,208,676 shares of the gold and copper producer's stock worth $159,577,000 after acquiring an additional 1,405,207 shares in the last quarter. Finally, Auto Owners Insurance Co boosted its holdings in Barrick Mining by 10,194.1% in the first quarter. Auto Owners Insurance Co now owns 1,050,000 shares of the gold and copper producer's stock worth $20,412,000 after acquiring an additional 1,039,800 shares in the last quarter. Institutional investors own 90.82% of the company's stock.

Barrick Mining Stock Performance

Shares of B opened at $32.78 on Wednesday. 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 capitalization of $55.82 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 0.58 and a beta of 0.28. The stock has a 50 day moving average of $26.64 and a 200 day moving average of $22.15. Barrick Mining Corporation has a 12 month low of $15.11 and a 12 month high of $36.10.

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

Barrick Mining Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors 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 (DPR) is presently 37.74%.

Analyst Ratings Changes

Several brokerages have issued reports on B. Scotiabank increased their price target on Barrick Mining from $25.00 to $26.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 13th. Wall Street Zen downgraded Barrick Mining from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. UBS Group increased their price objective on Barrick Mining from $26.00 to $35.00 and gave the stock a "buy" rating in a research note on Friday, September 19th. Bank of America increased their price objective on Barrick Mining from $29.00 to $34.00 and gave the stock a "neutral" rating in a research note on Friday, September 19th. Finally, National Bankshares raised Barrick Mining to an "outperform" rating in a research note on Monday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $33.33.

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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