10,366 Shares in Barrick Mining Corporation $B Bought by Beirne Wealth Consulting Services LLC

Beirne Wealth Consulting Services LLC bought a new position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 10,366 shares of the gold and copper producer’s stock, valued at approximately $216,000.

Several other hedge funds also recently bought and sold shares of the company. Mizuho Markets Cayman LP bought a new position in Barrick Mining in the 2nd quarter worth $16,574,000. Rossby Financial LCC bought a new position in Barrick Mining in the 2nd quarter worth $448,000. Brickwood Asset Management LLP bought a new position in Barrick Mining in the 2nd quarter worth $40,678,000. Bessemer Group Inc. bought a new position in Barrick Mining in the 2nd quarter worth $1,322,000. Finally, GoalVest Advisory LLC bought a new position in Barrick Mining in the 2nd quarter worth $42,000. Institutional investors own 90.82% of the company’s stock.

Barrick Mining Trading Down 0.1%

Barrick Mining stock opened at $31.81 on Wednesday. The stock has a 50-day moving average price of $30.90 and a 200 day moving average price of $24.18. 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 company has a market capitalization of $54.17 billion, a price-to-earnings ratio of 20.01, a price-to-earnings-growth ratio of 0.40 and a beta of 0.30. Barrick Mining Corporation has a 52 week low of $15.11 and a 52 week high of $36.40.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings data on Monday, August 11th. The gold and copper producer reported $0.47 EPS for the quarter, meeting analysts’ consensus estimates of $0.47. The business had revenue of $3.72 billion during 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 business’s revenue was up 16.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.32 earnings per share. Sell-side analysts anticipate that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, August 29th. Barrick Mining’s payout ratio is presently 37.74%.

Wall Street Analyst Weigh In

Several analysts have commented on B shares. Bank of America boosted their price target on shares of Barrick Mining from $36.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. Zacks Research cut shares of Barrick Mining from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 21st. BMO Capital Markets reiterated a “market perform” rating on shares of Barrick Mining in a research note on Monday, September 22nd. Canaccord Genuity Group boosted their price target on shares of Barrick Mining from $39.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Barrick Mining in a research note on Wednesday, September 24th. Two equities 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 company. According to data from MarketBeat, Barrick Mining currently has an average rating of “Moderate Buy” and a consensus target price of $42.90.

Barrick Mining 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.