OMERS ADMINISTRATION Corp Invests $1.80 Million in Barrick Mining Corporation $B

OMERS ADMINISTRATION Corp purchased a new stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 86,664 shares of the gold and copper producer’s stock, valued at approximately $1,801,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cetera Investment Advisers increased its stake in shares of Barrick Mining by 38.4% during the first quarter. Cetera Investment Advisers now owns 198,146 shares of the gold and copper producer’s stock worth $3,852,000 after purchasing an additional 54,976 shares in the last quarter. Arkadios Wealth Advisors boosted its holdings in Barrick Mining by 21.2% in the 1st quarter. Arkadios Wealth Advisors now owns 17,594 shares of the gold and copper producer’s stock worth $342,000 after buying an additional 3,081 shares during the last quarter. Natixis Advisors LLC increased its stake in Barrick Mining by 75.0% during the 1st quarter. Natixis Advisors LLC now owns 253,149 shares of the gold and copper producer’s stock worth $4,921,000 after buying an additional 108,455 shares in the last quarter. Harbour Investments Inc. raised its holdings in shares of Barrick Mining by 298.8% during the first quarter. Harbour Investments Inc. now owns 8,611 shares of the gold and copper producer’s stock valued at $167,000 after acquiring an additional 6,452 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Barrick Mining by 32.4% in the first quarter. PNC Financial Services Group Inc. now owns 25,426 shares of the gold and copper producer’s stock valued at $494,000 after acquiring an additional 6,228 shares in the last quarter. 90.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Canaccord Genuity Group increased their target price on shares of Barrick Mining from $39.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Cormark raised shares of Barrick Mining from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 11th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Barrick Mining in a research note on Monday, September 22nd. TD Securities boosted their target price on shares of Barrick Mining from $38.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Finally, Citigroup upgraded shares of Barrick Mining from a “hold” rating to a “buy” rating in a report on Monday, November 24th. Two 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $45.67.

Barrick Mining Stock Down 3.0%

Shares of B opened at $41.06 on Wednesday. The company’s 50-day moving average price is $34.93 and its 200 day moving average price is $27.27. Barrick Mining Corporation has a 12-month low of $15.11 and a 12-month high of $43.08. The company has a current ratio of 2.94, a quick ratio of 2.33 and a debt-to-equity ratio of 0.14. The firm has a market cap of $69.29 billion, a P/E ratio of 19.84, a price-to-earnings-growth ratio of 0.44 and a beta of 0.40.

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, beating analysts’ consensus estimates of $0.57 by $0.01. Barrick Mining had a net margin of 24.53% and a return on equity of 9.48%. The business had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $4.20 billion. During the same period in the previous year, the firm earned $0.09 EPS. The business’s revenue was up 23.2% on a year-over-year basis. On average, sell-side analysts forecast that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Increases Dividend

The company 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 dividend of $0.175 per share. This is an increase from Barrick Mining’s previous quarterly dividend of $0.15. This represents a $0.70 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, November 28th. Barrick Mining’s dividend payout ratio (DPR) 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.