Brickwood Asset Management LLP Makes New Investment in Barrick Mining Corporation $B

Brickwood Asset Management LLP acquired a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,953,812 shares of the gold and copper producer’s stock, valued at approximately $40,678,000. Barrick Mining comprises 29.0% of Brickwood Asset Management LLP’s portfolio, making the stock its largest holding.

Other hedge funds have also recently bought and sold shares of the company. Vermillion Wealth Management Inc. acquired a new stake in Barrick Mining during the second quarter worth approximately $25,000. Crowley Wealth Management Inc. acquired a new stake in Barrick Mining during the second quarter worth approximately $26,000. Concord Wealth Partners acquired a new stake in Barrick Mining during the second quarter worth approximately $26,000. Ameriflex Group Inc. bought a new position in shares of Barrick Mining during the second quarter worth approximately $27,000. Finally, Trifecta Capital Advisors LLC bought a new position in shares of Barrick Mining during the second quarter worth approximately $27,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on B. Bank of America raised their target price on shares of Barrick Mining from $36.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. 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, BMO Capital Markets reaffirmed a “market perform” rating on shares of Barrick Mining in a report on Monday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Barrick Mining currently has an average rating of “Moderate Buy” and a consensus target price of $42.70.

Barrick Mining Stock Performance

Shares of NYSE:B opened at $32.51 on Monday. The company’s 50 day simple moving average is $30.59 and its 200 day simple moving average is $24.00. The stock has a market capitalization of $55.35 billion, a price-to-earnings ratio of 20.44, a price-to-earnings-growth ratio of 0.41 and a beta of 0.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.21 and a quick ratio of 2.53. Barrick Mining Corporation has a 1 year low of $15.11 and a 1 year high of $36.40.

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 (EPS) for the quarter, meeting analysts’ consensus estimates of $0.47. The business had revenue of $3.72 billion for 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 quarterly revenue was up 16.4% compared to the same quarter last year. During the same period last year, the firm posted $0.32 earnings per share. As a group, research analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

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