237,826 Shares in Barrick Mining Corporation $B Acquired by Ingalls & Snyder LLC

Ingalls & Snyder LLC acquired a new stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 237,826 shares of the gold and copper producer’s stock, valued at approximately $4,952,000.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Barrick Mining by 0.7% during the first quarter. Vanguard Group Inc. now owns 68,861,295 shares of the gold and copper producer’s stock valued at $1,337,012,000 after purchasing an additional 502,762 shares during the period. TD Asset Management Inc purchased a new stake in shares of Barrick Mining during the second quarter valued at approximately $386,328,000. Ninety One UK Ltd purchased a new stake in shares of Barrick Mining during the second quarter valued at approximately $326,862,000. Mackenzie Financial Corp raised its stake in shares of Barrick Mining by 1.9% during the first quarter. Mackenzie Financial Corp now owns 15,614,848 shares of the gold and copper producer’s stock valued at $303,161,000 after purchasing an additional 296,472 shares during the period. Finally, Ruffer LLP raised its stake in shares of Barrick Mining by 1.5% during 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 period. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Barrick Mining Stock Performance

B stock opened at $32.51 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.53 and a current ratio of 3.21. The stock has a market capitalization of $55.35 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 0.41 and a beta of 0.30. Barrick Mining Corporation has a 1 year low of $15.11 and a 1 year high of $36.40. The stock’s fifty day moving average is $30.59 and its two-hundred day moving average is $23.96.

Barrick Mining (NYSE:B) (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, meeting analysts’ consensus estimates of $0.47. The company had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.60 billion. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The firm’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period last year, the business posted $0.32 earnings per share. On average, research analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on B shares. National Bank Financial upgraded shares of Barrick Mining from a “sector perform” rating to an “outperform” rating in a research note on Monday, September 22nd. Sanford C. Bernstein reissued an “outperform” rating on shares of Barrick Mining in a research report on Wednesday, September 24th. TD Securities raised their price target on shares of Barrick Mining from $38.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Raymond James Financial set a $40.00 price target on shares of Barrick Mining and gave the stock an “outperform” rating in a research report on Friday, October 10th. Finally, Bank of America raised their price target on shares of Barrick Mining from $36.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.70.

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.