18,053 Shares in Barrick Mining Corporation $B Acquired by West Family Investments Inc.

West Family Investments Inc. acquired a new stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 18,053 shares of the gold and copper producer’s stock, valued at approximately $376,000.

A number of other institutional investors have also made changes to their positions in B. Vermillion Wealth Management Inc. acquired a new position in Barrick Mining in the second quarter worth about $25,000. Concord Wealth Partners bought a new stake in shares of Barrick Mining during the second quarter valued at about $26,000. Crowley Wealth Management Inc. acquired a new stake in shares of Barrick Mining in the 2nd quarter worth approximately $26,000. Ameriflex Group Inc. acquired a new position in shares of Barrick Mining during the second quarter valued at approximately $27,000. Finally, Trifecta Capital Advisors LLC bought a new stake in shares of Barrick Mining in the 2nd quarter worth $27,000. 90.82% of the stock is owned by institutional investors and hedge funds.

Barrick Mining Stock Up 2.3%

Shares of NYSE B opened at $41.90 on Monday. Barrick Mining Corporation has a 12-month low of $15.11 and a 12-month high of $41.72. The firm’s 50-day simple moving average is $34.66 and its 200 day simple moving average is $26.93. The company has a market cap of $70.71 billion, a price-to-earnings ratio of 26.35, a price-to-earnings-growth ratio of 0.40 and a beta of 0.28. 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 released its earnings results on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The company had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $4.20 billion. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The company’s revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.09 EPS. On average, research analysts expect that Barrick Mining Corporation will post 1.47 earnings per share 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. Shareholders of record on Friday, November 28th will be issued a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 1.7%. This is an increase from Barrick Mining’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, November 28th. Barrick Mining’s dividend payout ratio is currently 33.82%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. National Bankshares raised Barrick Mining to an “outperform” rating in a report on Monday, September 22nd. Raymond James Financial increased their price objective on Barrick Mining from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Tuesday, November 25th. Royal Bank Of Canada lifted their target price on shares of Barrick Mining from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. National Bank Financial upgraded Barrick Mining from a “sector perform” rating to an “outperform” rating in a report on Monday, September 22nd. Finally, Canaccord Genuity Group upped their target price on Barrick Mining from $39.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Barrick Mining presently has an average rating of “Buy” and a consensus price target of $44.78.

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.