Means Investment CO. Inc. Has $358,000 Position in Barrick Mining Corporation (NYSE:B)

Means Investment CO. Inc. reduced its stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 13.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,421 shares of the gold and copper producer’s stock after selling 2,880 shares during the period. Means Investment CO. Inc.’s holdings in Barrick Mining were worth $358,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in B. Principal Securities Inc. boosted its stake in shares of Barrick Mining by 119.4% in the 4th quarter. Principal Securities Inc. now owns 4,848 shares of the gold and copper producer’s stock valued at $75,000 after purchasing an additional 2,638 shares in the last quarter. Allworth Financial LP raised its holdings in Barrick Mining by 1,864.2% in the 4th quarter. Allworth Financial LP now owns 21,174 shares of the gold and copper producer’s stock valued at $334,000 after buying an additional 20,096 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Barrick Mining by 10.7% in the 4th quarter. Principal Financial Group Inc. now owns 535,461 shares of the gold and copper producer’s stock valued at $8,299,000 after buying an additional 51,848 shares during the last quarter. D.A. Davidson & CO. raised its holdings in Barrick Mining by 32.2% in the 4th quarter. D.A. Davidson & CO. now owns 99,048 shares of the gold and copper producer’s stock valued at $1,535,000 after buying an additional 24,145 shares during the last quarter. Finally, Atria Wealth Solutions Inc. raised its holdings in Barrick Mining by 48.1% in the 4th quarter. Atria Wealth Solutions Inc. now owns 33,366 shares of the gold and copper producer’s stock valued at $517,000 after buying an additional 10,840 shares during the last quarter. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on B. Stifel Canada upgraded shares of Barrick Mining to a “strong-buy” rating in a report on Wednesday, March 19th. UBS Group raised their price objective on shares of Barrick Mining from $22.00 to $25.00 and gave the company a “buy” rating in a report on Friday, April 11th. National Bankshares reiterated an “outperform” rating on shares of Barrick Mining in a report on Wednesday, April 2nd. National Bank Financial upgraded shares of Barrick Mining to a “hold” rating in a report on Friday, March 21st. Finally, Royal Bank Of Canada raised their price objective on shares of Barrick Mining from $23.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, June 4th. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.05.

Barrick Mining Stock Performance

Shares of B stock opened at $20.98 on Friday. The company has a market cap of $35.97 billion, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 0.35 and a beta of 0.27. Barrick Mining Corporation has a 52 week low of $17.41 and a 52 week high of $47.50. The company has a quick ratio of 2.16, a current ratio of 2.87 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $19.53 and a 200-day moving average of $18.10.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings data on Wednesday, May 7th. The gold and copper producer reported $0.35 EPS for the quarter, topping the consensus estimate of $0.29 by $0.06. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.15 billion. Barrick Mining had a net margin of 17.46% and a return on equity of 7.51%. The company’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.19 EPS. On average, equities analysts forecast that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend was Friday, May 30th. Barrick Mining’s dividend payout ratio (DPR) is 30.08%.

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.