25,639 Shares in Barrick Mining Corporation $B Bought by MQS Management LLC

MQS Management LLC acquired a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 25,639 shares of the gold and copper producer’s stock, valued at approximately $534,000.

Other hedge funds have also recently 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. Crowley Wealth Management Inc. bought a new stake in Barrick Mining in the 2nd quarter valued at $26,000. Concord Wealth Partners bought a new stake in Barrick Mining in the 2nd quarter valued at $26,000. Ameriflex Group Inc. bought a new stake in Barrick Mining in the 2nd quarter valued at $27,000. Finally, Trifecta Capital Advisors LLC bought a new stake in Barrick Mining in the 2nd quarter valued at $27,000. 90.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on B shares. BMO Capital Markets reissued a “market perform” rating on shares of Barrick Mining in a report on Monday, September 22nd. Wall Street Zen raised shares of Barrick Mining from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. National Bank Financial raised shares of Barrick Mining from a “sector perform” rating to an “outperform” rating in a report on Monday, September 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Barrick Mining in a report on Tuesday, October 14th. Finally, Raymond James Financial set a $40.00 price objective on shares of Barrick Mining and gave the stock an “outperform” rating in a report on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.70.

Barrick Mining Trading Up 1.8%

Shares of Barrick Mining stock opened at $32.51 on Friday. The stock has a market capitalization of $55.35 billion, a P/E ratio of 20.44, a price-to-earnings-growth ratio of 0.41 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. The company has a 50-day simple moving average of $30.59 and a 200 day simple moving average of $23.96. Barrick Mining Corporation has a 12-month low of $15.11 and a 12-month high of $36.40.

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 business had revenue of $3.72 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the company posted $0.32 EPS. Research analysts expect that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

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

Barrick Mining Company 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.