25,639 Shares in Barrick Mining Corporation $B Acquired by MQS Management LLC

MQS Management LLC acquired a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 2nd quarter, Holdings Channel reports. The fund acquired 25,639 shares of the gold and copper producer’s stock, valued at approximately $534,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kestra Private Wealth Services LLC lifted its stake in Barrick Mining by 2.5% in the first quarter. Kestra Private Wealth Services LLC now owns 28,724 shares of the gold and copper producer’s stock valued at $558,000 after buying an additional 710 shares in the last quarter. Nicholas Hoffman & Company LLC. lifted its stake in Barrick Mining by 1.5% in the first quarter. Nicholas Hoffman & Company LLC. now owns 47,544 shares of the gold and copper producer’s stock valued at $924,000 after buying an additional 716 shares in the last quarter. Wedbush Securities Inc. lifted its stake in Barrick Mining by 5.9% in the first quarter. Wedbush Securities Inc. now owns 18,629 shares of the gold and copper producer’s stock valued at $362,000 after buying an additional 1,031 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Barrick Mining by 0.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 287,668 shares of the gold and copper producer’s stock valued at $5,592,000 after buying an additional 1,035 shares in the last quarter. Finally, HighPoint Advisor Group LLC lifted its stake in Barrick Mining by 3.9% in the first quarter. HighPoint Advisor Group LLC now owns 28,744 shares of the gold and copper producer’s stock valued at $543,000 after buying an additional 1,081 shares in the last quarter. Institutional investors own 90.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on B shares. UBS Group lifted their price objective on shares of Barrick Mining from $35.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Citigroup lifted their price objective on shares of Barrick Mining from $21.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. National Bankshares upgraded shares of Barrick Mining to an “outperform” rating in a report on Monday, September 22nd. Royal Bank Of Canada lifted their price objective on shares of Barrick Mining from $34.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Finally, Wall Street Zen upgraded shares of Barrick Mining from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.70.

Barrick Mining Price Performance

NYSE:B opened at $32.51 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.21 and a quick ratio of 2.53. The firm’s fifty day moving average price is $30.59 and its two-hundred day moving average price is $23.96. Barrick Mining Corporation has a one year low of $15.11 and a one year high of $36.40. The company has a market cap of $55.35 billion, a P/E ratio of 20.44, a P/E/G ratio of 0.41 and a beta of 0.30.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings results on Monday, August 11th. The gold and copper producer reported $0.47 EPS for the quarter, meeting 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 the consensus estimate of $3.60 billion. During the same period in the prior year, the company posted $0.32 earnings per share. Barrick Mining’s revenue was up 16.4% compared to the same quarter last year. Equities analysts expect that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Cuts Dividend

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

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.