Mount Lucas Management LP Purchases Shares of 26,517 Barrick Mining Corporation $B

Mount Lucas Management LP acquired a new position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the second quarter, HoldingsChannel reports. The firm acquired 26,517 shares of the gold and copper producer’s stock, valued at approximately $552,000.

A number of other institutional investors also recently made changes to their positions in the business. Vermillion Wealth Management Inc. bought a new position in shares of Barrick Mining during the 2nd quarter valued at $25,000. Concord Wealth Partners bought a new stake in Barrick Mining in the second quarter worth $26,000. Crowley Wealth Management Inc. purchased a new stake in Barrick Mining during the second quarter valued at about $26,000. Ameriflex Group Inc. bought a new position in shares of Barrick Mining during the second quarter valued at about $27,000. Finally, Trifecta Capital Advisors LLC bought a new position in shares of Barrick Mining during the second quarter valued at about $27,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Barrick Mining Trading Down 0.1%

B opened at $36.99 on Tuesday. Barrick Mining Corporation has a one year low of $15.11 and a one year high of $38.16. 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 business has a 50 day simple moving average of $33.00 and a two-hundred day simple moving average of $25.64. The firm has a market capitalization of $62.42 billion, a price-to-earnings ratio of 23.26, a PEG ratio of 0.40 and a beta of 0.28.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its earnings results on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.01. The firm had revenue of $4.19 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.09 earnings per share. Analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, November 28th. This is an increase from Barrick Mining’s previous quarterly dividend of $0.15. Barrick Mining’s payout ratio is presently 33.82%.

Wall Street Analyst Weigh In

B has been the subject of a number of recent research reports. Royal Bank Of Canada boosted their target price on Barrick Mining from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Barrick Mining in a research note on Tuesday, November 11th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Barrick Mining in a research report on Wednesday, September 24th. Wall Street Zen lowered Barrick Mining from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. Finally, Bank of America lifted their target price 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. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Barrick Mining 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.