M.E. Allison & CO. Inc. Invests $273,000 in Barrick Mining Corporation $B

M.E. Allison & CO. Inc. purchased a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 13,118 shares of the gold and copper producer’s stock, valued at approximately $273,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Penserra Capital Management LLC boosted its holdings 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 purchasing an additional 2,821 shares during the period. Hedges Asset Management LLC acquired a new position in Barrick Mining in the second quarter worth $1,249,000. Chemistry Wealth Management LLC acquired a new position in Barrick Mining in the second quarter worth $246,000. Sequoia Financial Advisors LLC boosted its holdings in Barrick Mining by 24.4% in the first quarter. Sequoia Financial Advisors LLC now owns 20,795 shares of the gold and copper producer’s stock worth $404,000 after purchasing an additional 4,082 shares during the period. Finally, Janney Montgomery Scott LLC boosted its holdings in Barrick Mining by 25.9% in the first quarter. Janney Montgomery Scott LLC now owns 291,281 shares of the gold and copper producer’s stock worth $5,663,000 after purchasing an additional 59,906 shares during the period. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barrick Mining Price Performance

Shares of NYSE B opened at $32.73 on Monday. Barrick Mining Corporation has a fifty-two week low of $15.11 and a fifty-two week high of $36.10. The firm’s 50-day simple moving average is $28.58 and its 200 day simple moving average is $22.98. The company has a quick ratio of 2.53, a current ratio of 3.21 and a debt-to-equity ratio of 0.14. The stock has a market cap of $55.72 billion, a P/E ratio of 20.58, a P/E/G ratio of 0.53 and a beta of 0.30.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings data on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share for the quarter, meeting 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 for the quarter, compared to analysts’ expectations of $3.60 billion. During the same period in the previous year, the business earned $0.32 earnings per share. The company’s revenue was up 16.4% on a year-over-year basis. Equities analysts expect 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. Investors of record on Friday, August 29th were paid 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 was Friday, August 29th. Barrick Mining’s payout ratio is currently 37.74%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. BMO Capital Markets reaffirmed a “market perform” rating on shares of Barrick Mining in a report on Monday, September 22nd. National Bank Financial raised shares of Barrick Mining from a “sector perform” rating to an “outperform” rating in a report on Monday, September 22nd. CIBC boosted their price target on shares of Barrick Mining from $38.00 to $50.00 and gave the company an “outperformer” rating in a report on Friday. National Bankshares raised shares of Barrick Mining to an “outperform” rating in a report on Monday, September 22nd. Finally, Canaccord Genuity Group boosted their price target on shares of Barrick Mining from $39.00 to $57.00 and gave the company a “buy” rating in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.10.

About Barrick Mining

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.