Strs Ohio Invests $26.33 Million in Barrick Mining Corporation $B

Strs Ohio bought a new stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 2nd quarter, HoldingsChannel reports. The firm bought 1,264,697 shares of the gold and copper producer’s stock, valued at approximately $26,331,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vontobel Holding Ltd. raised its stake in shares of Barrick Mining by 142.1% during the first quarter. Vontobel Holding Ltd. now owns 90,591 shares of the gold and copper producer’s stock valued at $1,759,000 after purchasing an additional 53,177 shares during the period. D.A. Davidson & CO. increased its stake in Barrick Mining by 72.2% during the 1st quarter. D.A. Davidson & CO. now owns 170,527 shares of the gold and copper producer’s stock worth $3,315,000 after buying an additional 71,479 shares during the period. Checchi Capital Advisers LLC purchased a new position in Barrick Mining in the 1st quarter valued at about $199,000. Aurora Private Wealth Inc. acquired a new stake in shares of Barrick Mining during the first quarter valued at about $305,000. Finally, Avantax Planning Partners Inc. purchased a new stake in shares of Barrick Mining during the first quarter worth about $211,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Barrick Mining Stock Down 0.8%

B opened at $32.80 on Friday. Barrick Mining Corporation has a 12 month low of $15.11 and a 12 month high of $36.40. 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 stock has a market cap of $55.35 billion, a P/E ratio of 20.63, a P/E/G ratio of 0.40 and a beta of 0.30. The stock’s 50 day moving average price is $31.33 and its 200 day moving average price is $24.41.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its 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 return on equity of 8.19% and a net margin of 19.99%.The firm had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.60 billion. During the same period last year, the firm earned $0.32 EPS. The firm’s revenue was up 16.4% compared to the same quarter last year. As a group, research analysts predict that Barrick Mining Corporation will post 1.47 earnings per share for the current 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 given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, August 29th. Barrick Mining’s dividend payout ratio (DPR) is currently 37.74%.

Analyst Ratings Changes

A number of research analysts recently commented on B shares. Citigroup increased their price target on Barrick Mining from $21.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. Sanford C. Bernstein reissued an “outperform” rating on shares of Barrick Mining in a report on Wednesday, September 24th. BMO Capital Markets reissued a “market perform” rating on shares of Barrick Mining in a report on Monday, September 22nd. Bank of America increased their price target on Barrick Mining from $36.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, October 16th. Finally, Wall Street Zen downgraded Barrick Mining from a “strong-buy” rating to a “buy” rating in a report on Saturday. Two 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.