Yousif Capital Management LLC Invests $438,000 in Barrick Mining Corporation $B

Key Points

• Yousif Capital Management LLC has invested $438,000 to acquire 21,034 shares in Barrick Mining Corporation during the second quarter.
• The company reported $0.47 earnings per share (EPS) for the latest quarter, meeting analysts' expectations, with revenue increasing by 16.4% year-over-year.
• Barrick Mining has announced a quarterly dividend of $0.15 per share, resulting in a yield of 1.9% and a payout ratio of 37.74%.

Yousif Capital Management LLC purchased a new position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 21,034 shares of the gold and copper producer's stock, valued at approximately $438,000.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Barrick Mining by 0.7% in 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 acquiring an additional 502,762 shares during the period. TD Asset Management Inc increased its stake in shares of Barrick Mining by 1.6% during the 1st 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 purchased a new stake in shares of Barrick Mining during the 2nd quarter worth approximately $326,862,000. Mackenzie Financial Corp raised its holdings in shares of 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 worth $303,161,000 after purchasing an additional 296,472 shares during the period. Finally, Ruffer LLP lifted its stake in Barrick Mining by 1.5% in the first quarter. Ruffer LLP now owns 10,426,795 shares of the gold and copper producer's stock valued at $202,701,000 after purchasing an additional 156,947 shares during the last quarter. Hedge funds and other institutional investors own 90.82% of the company's stock.

Barrick Mining Price Performance

Shares of NYSE:B opened at $31.96 on Friday. The company has a 50 day moving average of $30.43 and a 200 day moving average of $23.82. 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 stock has a market cap of $54.42 billion, a P/E ratio of 20.10, a P/E/G ratio of 0.39 and a beta of 0.30. Barrick Mining Corporation has a 12 month low of $15.11 and a 12 month high of $36.40.

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

Barrick Mining Cuts Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.60 annualized dividend and a yield of 1.9%. Barrick Mining's dividend payout ratio (DPR) is currently 37.74%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on B. Zacks Research downgraded Barrick Mining from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 21st. Raymond James Financial set a $40.00 price objective on Barrick Mining and gave the stock an "outperform" rating in a report on Friday, October 10th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Barrick Mining in a report on Tuesday, October 14th. National Bankshares upgraded shares of Barrick Mining to an "outperform" rating in a research report on Monday, September 22nd. Finally, BMO Capital Markets reiterated a "market perform" rating on shares of Barrick Mining in a research note on Monday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $42.70.

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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