Pullen Investment Management LLC Makes New Investment in Barrick Mining Corporation $B

Pullen Investment Management LLC purchased a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 85,099 shares of the gold and copper producer’s stock, valued at approximately $1,772,000.

Other large investors also recently made changes to their positions in the company. Penserra Capital Management LLC boosted its stake in shares of Barrick Mining by 1,919.0% during the 1st quarter. Penserra Capital Management LLC now owns 2,968 shares of the gold and copper producer’s stock worth $56,000 after acquiring an additional 2,821 shares in the last quarter. Hedges Asset Management LLC bought a new stake in shares of Barrick Mining during the 2nd quarter worth about $1,249,000. Chemistry Wealth Management LLC bought a new stake in shares of Barrick Mining during the 2nd quarter worth about $246,000. Sequoia Financial Advisors LLC boosted its stake in shares of Barrick Mining by 24.4% during the 1st quarter. Sequoia Financial Advisors LLC now owns 20,795 shares of the gold and copper producer’s stock worth $404,000 after acquiring an additional 4,082 shares in the last quarter. Finally, Concurrent Investment Advisors LLC bought a new stake in shares of Barrick Mining during the 2nd quarter worth about $337,000. Institutional investors own 90.82% of the company’s stock.

Barrick Mining Price Performance

Shares of B stock opened at $32.51 on Friday. The stock has a 50 day moving average of $30.59 and a two-hundred day moving average of $23.96. 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 Corporation has a 12 month low of $15.11 and a 12 month high of $36.40. The company has a market capitalization of $55.35 billion, a P/E ratio of 20.44, a P/E/G ratio of 0.41 and a beta of 0.30.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings data on Monday, August 11th. The gold and copper producer reported $0.47 EPS for the quarter, hitting analysts’ consensus estimates of $0.47. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.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 EPS. The company’s quarterly revenue was up 16.4% on a year-over-year basis. As a group, equities analysts expect that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a $0.15 dividend. The ex-dividend date 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 currently 37.74%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Bank of America upped their price target on Barrick Mining from $36.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. Cibc World Mkts upgraded Barrick Mining from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. Wall Street Zen upgraded Barrick Mining from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. Zacks Research downgraded Barrick Mining from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 21st. Finally, Scotiabank upgraded Barrick Mining from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $27.50 to $43.00 in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.70.

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.