Moors & Cabot Inc. Invests $1.33 Million in Barrick Mining Corporation $B

Moors & Cabot Inc. purchased a new position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 64,005 shares of the gold and copper producer’s stock, valued at approximately $1,333,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. TD Asset Management Inc acquired a new stake in Barrick Mining in the 2nd quarter valued at about $386,328,000. Ninety One UK Ltd purchased a new stake in shares of Barrick Mining in the second quarter valued at approximately $326,862,000. ANTIPODES PARTNERS Ltd acquired a new stake in shares of Barrick Mining in the second quarter valued at approximately $169,302,000. Equity Investment Corp purchased a new position in Barrick Mining during the second quarter worth approximately $89,362,000. Finally, Perpetual Ltd acquired a new position in Barrick Mining during the second quarter worth $63,419,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Barrick Mining Trading Down 0.7%

NYSE B opened at $32.56 on Friday. The firm’s 50-day moving average is $31.81 and its two-hundred day moving average is $24.74. 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 capitalization of $54.94 billion, a P/E ratio of 20.48, a PEG ratio of 0.40 and a beta of 0.28.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings results on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share 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 net margin of 19.99% and a return on equity of 8.19%. The business’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period last year, the business earned $0.32 earnings per share. On average, sell-side analysts anticipate that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were paid a dividend of $0.15 per share. 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 is 37.74%.

Analysts Set New Price Targets

B has been the subject of a number of recent research reports. TD Securities raised their target price on Barrick Mining from $38.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Bank of America raised their price objective 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. National Bankshares raised shares of Barrick Mining to an “outperform” rating in a research note on Monday, September 22nd. BMO Capital Markets reissued a “market perform” rating on shares of Barrick Mining in a research note on Monday, September 22nd. Finally, UBS Group raised their price target on shares of Barrick Mining from $35.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Two investment 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’s stock. Based on data from MarketBeat.com, Barrick Mining has an average rating of “Moderate Buy” and an average price target 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.