Savant Capital LLC Makes New Investment in Barrick Mining Corporation $B

Savant Capital LLC purchased a new stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 23,550 shares of the gold and copper producer’s stock, valued at approximately $490,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in B. TD Asset Management Inc acquired a new position in Barrick Mining during the second quarter worth $386,328,000. Ninety One UK Ltd acquired a new stake in shares of Barrick Mining in the 2nd quarter worth $326,862,000. ANTIPODES PARTNERS Ltd purchased a new position in shares of Barrick Mining during the 2nd quarter worth $169,302,000. Equity Investment Corp acquired a new position in shares of Barrick Mining during the 2nd quarter valued at about $89,362,000. Finally, Sound Shore Management Inc CT acquired a new position in shares of Barrick Mining during the 2nd quarter valued at about $64,141,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barrick Mining Stock Up 1.6%

Barrick Mining stock opened at $37.00 on Friday. Barrick Mining Corporation has a fifty-two week low of $15.11 and a fifty-two week high of $37.73. The firm has a market capitalization of $62.43 billion, a price-to-earnings ratio of 23.27, a price-to-earnings-growth ratio of 0.40 and a beta of 0.28. The stock’s fifty day moving average is $32.84 and its two-hundred day moving average is $25.47. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.53 and a current ratio of 3.21.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings results on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.01. The business had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $4.20 billion. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The business’s revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.09 EPS. Analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be given a $0.175 dividend. This is a boost from Barrick Mining’s previous quarterly dividend of $0.15. This represents a $0.70 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, November 28th. Barrick Mining’s dividend payout ratio (DPR) is currently 33.82%.

Analysts Set New Price Targets

B has been the subject of several recent analyst reports. Zacks Research cut shares of Barrick Mining from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. BMO Capital Markets restated a “market perform” rating on shares of Barrick Mining in a report on Monday, September 22nd. National Bank Financial raised shares of Barrick Mining from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 22nd. Royal Bank Of Canada increased their price objective on Barrick Mining from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Finally, Cormark raised Barrick Mining from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 11th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.90.

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.