Haven Global Partners LLC Acquires New Position in Barrick Mining Corporation $B

Haven Global Partners LLC acquired a new stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 957,762 shares of the gold and copper producer’s stock, valued at approximately $19,899,000. Barrick Mining comprises about 15.6% of Haven Global Partners LLC’s portfolio, making the stock its 3rd biggest position. Haven Global Partners LLC owned about 0.06% of Barrick Mining as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in B. Miller Financial Services LLC acquired a new position in shares of Barrick Mining in the 2nd quarter valued at $215,000. Ensign Peak Advisors Inc bought a new stake in Barrick Mining in the second quarter valued at about $2,363,000. Quilter Plc acquired a new position in Barrick Mining in the second quarter valued at about $221,000. Saturna Capital Corp bought a new position in Barrick Mining during the second quarter worth about $3,676,000. Finally, TD Waterhouse Canada Inc. bought a new position in Barrick Mining during the second quarter worth about $6,769,000. Institutional investors own 90.82% of the company’s stock.

Analysts Set New Price Targets

B has been the subject of a number of recent analyst reports. UBS Group upped their price target on Barrick Mining from $35.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Barrick Mining in a research note on Monday, September 22nd. Zacks Research cut shares of Barrick Mining from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. Wall Street Zen lowered shares of Barrick Mining from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Finally, National Bankshares raised Barrick Mining to an “outperform” rating in a research note on Monday, September 22nd. Two 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.90.

Barrick Mining Trading Down 0.0%

Shares of NYSE:B opened at $37.73 on Thursday. The firm has a market cap of $63.67 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 0.40 and a beta of 0.28. Barrick Mining Corporation has a 12 month low of $15.11 and a 12 month high of $38.78. The company’s fifty day simple moving average is $33.33 and its 200 day simple moving average is $25.86. The company has a quick ratio of 2.53, a current ratio of 3.21 and a debt-to-equity ratio of 0.14.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its earnings results on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The firm had revenue of $4.19 billion during the quarter, compared to analyst estimates of $4.20 billion. During the same period in the prior year, the business earned $0.09 EPS. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, research analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Increases Dividend

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

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.