1,360,000 Shares in Barrick Mining Corporation $B Purchased by Monaco Asset Management SAM

Monaco Asset Management SAM purchased a new position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 1,360,000 shares of the gold and copper producer’s stock, valued at approximately $28,315,000. Barrick Mining accounts for 5.0% of Monaco Asset Management SAM’s holdings, making the stock its largest position. Monaco Asset Management SAM owned approximately 0.08% of Barrick Mining as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vermillion Wealth Management Inc. bought a new stake in Barrick Mining in the 2nd quarter valued at $25,000. Concord Wealth Partners bought a new position in Barrick Mining during the second quarter valued at about $26,000. Crowley Wealth Management Inc. bought a new position in Barrick Mining during the second quarter valued at about $26,000. Ameriflex Group Inc. acquired a new position in Barrick Mining in the 2nd 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 approximately $27,000. Institutional investors own 90.82% of the company’s stock.

Analyst Ratings Changes

B has been the subject of a number of recent research reports. CIBC upped their target price on Barrick Mining from $38.00 to $50.00 and gave the company an “outperformer” rating in a research note on Friday, October 10th. TD Securities raised their price target on shares of Barrick Mining from $38.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Wall Street Zen lowered Barrick Mining from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. Raymond James Financial set a $40.00 target price on Barrick Mining and gave the stock an “outperform” rating in a report on Friday, October 10th. Finally, Royal Bank Of Canada upped their price target on Barrick Mining from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.90.

Barrick Mining Price Performance

Shares of B stock opened at $33.05 on Friday. The stock’s fifty day moving average is $31.94 and its 200-day moving average is $24.87. The stock has a market capitalization of $55.76 billion, a PE ratio of 20.78, a PEG ratio of 0.40 and a beta of 0.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.53 and a current ratio of 3.21. Barrick Mining Corporation has a 52 week low of $15.11 and a 52 week high of $36.40.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings data on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The firm had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.60 billion. During the same quarter last year, the company posted $0.32 EPS. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. Equities research analysts expect that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, August 29th. Barrick Mining’s dividend payout ratio (DPR) is presently 37.74%.

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.