M.E. Allison & CO. Inc. Buys Shares of 13,118 Barrick Mining Corporation $B

M.E. Allison & CO. Inc. acquired a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 13,118 shares of the gold and copper producer’s stock, valued at approximately $273,000.

Several other large investors have also modified their holdings of B. GAMMA Investing LLC lifted its holdings in shares of Barrick Mining by 1,844.0% during the 1st quarter. GAMMA Investing LLC now owns 6,007 shares of the gold and copper producer’s stock worth $117,000 after acquiring an additional 5,698 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Barrick Mining by 21.8% during the 1st quarter. Farther Finance Advisors LLC now owns 3,146 shares of the gold and copper producer’s stock worth $62,000 after acquiring an additional 563 shares during the period. Fifth Third Bancorp raised its holdings in 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 raised its holdings in 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 raised its holdings in 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. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Mining Stock Down 1.0%

Shares of NYSE:B opened at $32.73 on Monday. 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 52-week low of $15.11 and a 52-week high of $36.10. The company has a 50 day moving average of $28.58 and a two-hundred day moving average of $22.98. The company has a market capitalization of $55.72 billion, a price-to-earnings ratio of 20.58, a price-to-earnings-growth ratio of 0.53 and a beta of 0.30.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings data on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share (EPS) 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 company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.60 billion. During the same quarter last year, the company earned $0.32 earnings per share. Barrick Mining’s revenue for the quarter was up 16.4% on a year-over-year basis. As a group, analysts forecast that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

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

Wall Street Analyst Weigh In

Several research firms recently commented on B. Raymond James Financial set a $40.00 price target on shares of Barrick Mining and gave the company an “outperform” rating in a report on Friday. Scotiabank raised their price target on shares of Barrick Mining from $25.00 to $26.00 and gave the company a “sector perform” rating in a report on Wednesday, August 13th. Weiss Ratings restated a “buy (b)” rating on shares of Barrick Mining in a report on Saturday, September 27th. National Bankshares upgraded shares of Barrick Mining to an “outperform” rating in a report on Monday, September 22nd. Finally, CIBC raised their price target on shares of Barrick Mining from $38.00 to $50.00 and gave the company an “outperformer” rating in a report on Friday. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Barrick Mining currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.10.

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.