Means Investment CO. Inc. Makes New Investment in Barrick Mining Corporation $B

Means Investment CO. Inc. purchased a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the second quarter, Holdings Channel reports. The fund purchased 16,473 shares of the gold and copper producer’s stock, valued at approximately $343,000.

A number of other institutional investors also recently added to or reduced their stakes in B. GAMMA Investing LLC lifted its holdings in shares of Barrick Mining by 1,844.0% in the first quarter. GAMMA Investing LLC now owns 6,007 shares of the gold and copper producer’s stock valued at $117,000 after buying an additional 5,698 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Barrick Mining by 21.8% in the first quarter. Farther Finance Advisors LLC now owns 3,146 shares of the gold and copper producer’s stock valued at $62,000 after buying an additional 563 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Barrick Mining by 28.9% in the first quarter. Fifth Third Bancorp now owns 5,644 shares of the gold and copper producer’s stock valued at $110,000 after buying an additional 1,266 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Barrick Mining by 1.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 74,792 shares of the gold and copper producer’s stock valued at $1,454,000 after buying an additional 1,156 shares during the period. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Barrick Mining by 3,816.7% in the first quarter. Exchange Traded Concepts LLC now owns 163,639 shares of the gold and copper producer’s stock valued at $3,181,000 after buying an additional 159,461 shares during the period. Institutional investors and hedge funds own 90.82% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on B shares. TD Securities upped their price objective on Barrick Mining from $38.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday. National Bank Financial upgraded Barrick Mining from a “sector perform” rating to an “outperform” rating in a report on Monday, September 22nd. Sanford C. Bernstein restated an “outperform” rating on shares of Barrick Mining in a report on Wednesday, September 24th. National Bankshares upgraded Barrick Mining to an “outperform” rating in a report on Monday, September 22nd. Finally, Cibc World Mkts upgraded Barrick Mining from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $38.10.

Barrick Mining Stock Down 1.0%

Shares of Barrick Mining stock opened at $32.73 on Friday. The stock’s fifty day moving average is $28.58 and its 200-day moving average is $22.95. The firm has a market capitalization of $55.72 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 0.54 and a beta of 0.30. 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 Corporation has a 12-month low of $15.11 and a 12-month high of $36.10.

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

Barrick Mining Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, August 29th. Barrick Mining’s payout ratio is presently 37.74%.

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.