Gold Investment Management Ltd. Acquires New Position in Barrick Mining Corporation $B

Gold Investment Management Ltd. acquired a new stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 14,338 shares of the gold and copper producer’s stock, valued at approximately $298,000.

Several other large investors have also bought and sold shares of B. Ninety One UK Ltd bought a new stake in Barrick Mining in the second quarter valued at approximately $326,862,000. Perpetual Ltd bought a new stake in Barrick Mining in the second quarter valued at approximately $63,419,000. Assenagon Asset Management S.A. bought a new stake in Barrick Mining in the second quarter valued at approximately $50,139,000. Systrade AG bought a new stake in shares of Barrick Mining during the second quarter worth $41,640,000. Finally, Auto Owners Insurance Co increased its position in shares of Barrick Mining by 10,194.1% during the first quarter. Auto Owners Insurance Co now owns 1,050,000 shares of the gold and copper producer’s stock worth $20,412,000 after acquiring an additional 1,039,800 shares in the last quarter. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on B shares. UBS Group increased their price objective on shares of Barrick Mining from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, September 19th. CIBC reissued an “outperform” rating on shares of Barrick Mining in a research report on Monday, September 22nd. Wall Street Zen downgraded shares of Barrick Mining from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 9th. Scotiabank increased their price objective on shares of Barrick Mining from $25.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 13th. Finally, National Bankshares raised shares of Barrick Mining to an “outperform” rating in a research report on Monday, September 22nd. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Barrick Mining currently has a consensus rating of “Moderate Buy” and an average price target of $33.33.

Barrick Mining Stock Up 2.9%

Barrick Mining stock opened at $33.72 on Thursday. The company has a market cap of $57.42 billion, a P/E ratio of 21.21, a price-to-earnings-growth ratio of 0.54 and a beta of 0.30. Barrick Mining Corporation has a 1-year low of $15.11 and a 1-year high of $36.10. The company has a fifty day simple moving average of $26.88 and a 200 day simple moving average of $22.23. The company has a current ratio of 3.21, a quick ratio of 2.53 and a debt-to-equity ratio of 0.14.

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

Barrick Mining Cuts Dividend

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