Pacifica Partners Inc. Invests $5.06 Million in Barrick Mining Corporation $B

Pacifica Partners Inc. acquired a new stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 150,714 shares of the gold and copper producer’s stock, valued at approximately $5,064,000. Barrick Mining makes up approximately 1.8% of Pacifica Partners Inc.’s investment portfolio, making the stock its 19th biggest holding.

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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. TD Securities upped their price target on Barrick Mining from $38.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Zacks Research raised Barrick Mining from a “hold” rating to a “strong-buy” rating in a research report on Monday. Citigroup upgraded Barrick Mining from a “hold” rating to a “buy” rating in a research note on Monday, November 24th. BNP Paribas upgraded Barrick Mining to a “neutral” rating and set a $50.00 price target on the stock in a research note on Friday, December 5th. Finally, Cormark upgraded shares of Barrick Mining from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 11th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $47.17.

Barrick Mining Stock Performance

Shares of B opened at $43.92 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.33 and a current ratio of 2.94. The stock has a 50-day moving average of $36.95 and a two-hundred day moving average of $29.09. The stock has a market cap of $73.95 billion, a P/E ratio of 21.22, a P/E/G ratio of 0.45 and a beta of 0.40. Barrick Mining Corporation has a one year low of $15.11 and a one year high of $44.38.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings data on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Barrick Mining had a return on equity of 9.48% and a net margin of 24.53%.The business had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.20 billion. During the same period in the prior year, the company earned $0.09 earnings per share. The company’s revenue was up 23.2% on a year-over-year basis. As a group, research analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were given a dividend of $0.175 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.70 dividend on an annualized basis and a yield of 1.6%. 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.