Ingalls & Snyder LLC Invests $4.95 Million in Barrick Mining Corporation $B

Ingalls & Snyder LLC purchased a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 237,826 shares of the gold and copper producer’s stock, valued at approximately $4,952,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Kestra Private Wealth Services LLC grew its stake in shares of Barrick Mining by 2.5% during the 1st quarter. Kestra Private Wealth Services LLC now owns 28,724 shares of the gold and copper producer’s stock worth $558,000 after purchasing an additional 710 shares during the period. Nicholas Hoffman & Company LLC. grew its stake in shares of Barrick Mining by 1.5% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 47,544 shares of the gold and copper producer’s stock worth $924,000 after purchasing an additional 716 shares during the period. Wedbush Securities Inc. grew its stake in shares of Barrick Mining by 5.9% during the 1st quarter. Wedbush Securities Inc. now owns 18,629 shares of the gold and copper producer’s stock worth $362,000 after purchasing an additional 1,031 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Barrick Mining by 0.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 287,668 shares of the gold and copper producer’s stock worth $5,592,000 after purchasing an additional 1,035 shares during the period. Finally, HighPoint Advisor Group LLC boosted its position in shares of Barrick Mining by 3.9% in the 1st quarter. HighPoint Advisor Group LLC now owns 28,744 shares of the gold and copper producer’s stock worth $543,000 after buying an additional 1,081 shares in the last quarter. 90.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

B has been the topic of a number of research reports. UBS Group increased their price objective on shares of Barrick Mining from $35.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Cibc World Mkts raised shares of Barrick Mining from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. Raymond James Financial set a $40.00 price objective on shares of Barrick Mining and gave the company an “outperform” rating in a research note on Friday, October 10th. BMO Capital Markets reissued a “market perform” rating on shares of Barrick Mining in a research note on Monday, September 22nd. Finally, Bank of America increased their price objective on shares of Barrick Mining from $36.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.70.

Barrick Mining Trading Up 1.8%

Shares of B stock opened at $32.51 on Friday. The firm has a market cap of $55.35 billion, a P/E ratio of 20.44, a PEG ratio of 0.41 and a beta of 0.30. Barrick Mining Corporation has a 1-year low of $15.11 and a 1-year high of $36.40. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.21 and a quick ratio of 2.53. The firm’s 50-day simple moving average is $30.59 and its 200-day simple moving average is $23.96.

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

Barrick Mining Cuts Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, August 29th. Barrick Mining’s dividend payout ratio is 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.