Solstein Capital LLC Acquires New Holdings in Barrick Mining Corporation $B

Solstein Capital LLC acquired a new stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,750 shares of the gold and copper producer’s stock, valued at approximately $78,000.

Other institutional investors have also recently bought and sold shares of the company. Vermillion Wealth Management Inc. acquired a new position in Barrick Mining during the second quarter valued at approximately $25,000. Crowley Wealth Management Inc. acquired a new position in Barrick Mining during the second quarter valued at approximately $26,000. Concord Wealth Partners acquired a new position in Barrick Mining during the second quarter valued at approximately $26,000. Ameriflex Group Inc. acquired a new position in Barrick Mining during the second quarter valued at approximately $27,000. Finally, Trifecta Capital Advisors LLC acquired a new position in Barrick Mining during the second quarter valued at approximately $27,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Barrick Mining in a report on Tuesday, October 14th. National Bank Financial upgraded shares of Barrick Mining from a “sector perform” rating to an “outperform” rating in a report on Monday, September 22nd. Zacks Research cut shares of Barrick Mining from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 21st. Canaccord Genuity Group upped 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, October 9th. Finally, TD Securities upped their price target on shares of Barrick Mining from $38.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $42.70.

Barrick Mining Stock Performance

Shares of B opened at $32.51 on Monday. Barrick Mining Corporation has a 12 month low of $15.11 and a 12 month high of $36.40. The firm has a fifty day simple moving average of $30.59 and a 200 day simple moving average of $24.00. 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. 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 (NYSE:B) (TSE:ABX) last announced its earnings results on Monday, August 11th. The gold and copper producer reported $0.47 EPS for the quarter, hitting 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 during the quarter, compared to analysts’ expectations of $3.60 billion. During the same quarter in the prior year, the company posted $0.32 earnings per share. The firm’s revenue was up 16.4% on a year-over-year basis. Research analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

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