XML Financial LLC Makes New $1.06 Million Investment in Barrick Mining Corporation $B

XML Financial LLC bought a new position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the second quarter, Holdings Channel reports. The firm bought 50,975 shares of the gold and copper producer’s stock, valued at approximately $1,061,000.

Other large investors have also bought and sold shares of the company. Penserra Capital Management LLC increased its position in Barrick Mining by 1,919.0% in the first quarter. Penserra Capital Management LLC now owns 2,968 shares of the gold and copper producer’s stock worth $56,000 after buying an additional 2,821 shares during the last quarter. Hedges Asset Management LLC bought a new position in Barrick Mining in the 2nd quarter worth about $1,249,000. Chemistry Wealth Management LLC purchased a new position in shares of Barrick Mining in the 2nd quarter worth about $246,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Barrick Mining by 14.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 73,636 shares of the gold and copper producer’s stock worth $1,141,000 after purchasing an additional 9,149 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in Barrick Mining by 24.4% during the 1st quarter. Sequoia Financial Advisors LLC now owns 20,795 shares of the gold and copper producer’s stock valued at $404,000 after acquiring an additional 4,082 shares during the period. 90.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

B has been the subject of a number of analyst reports. Wall Street Zen lowered Barrick Mining from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 9th. Royal Bank Of Canada boosted their price objective on Barrick Mining from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. CIBC restated an “outperform” rating on shares of Barrick Mining in a research note on Monday, September 22nd. Cibc World Mkts raised shares of Barrick Mining from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. Finally, Zacks Research downgraded Barrick Mining from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $33.33.

Barrick Mining Price Performance

NYSE 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. Barrick Mining Corporation has a 1 year low of $15.11 and a 1 year high of $36.10. The company has a fifty day simple moving average of $26.64 and a 200 day simple moving average of $22.15. The company has a market cap of $55.82 billion, a P/E ratio of 20.62, a P/E/G ratio of 0.58 and a beta of 0.28.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its earnings results on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $3.60 billion. During the same quarter last year, the company posted $0.32 EPS. The firm’s revenue for the quarter was up 16.4% on a year-over-year basis. On average, sell-side analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, August 29th. Barrick Mining’s payout ratio is currently 37.74%.

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.