Aviva PLC Buys New Stake in Barrick Mining Corporation $B

Aviva PLC purchased a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the second quarter, HoldingsChannel reports. The institutional investor purchased 1,284,877 shares of the gold and copper producer’s stock, valued at approximately $26,745,000.

Several other large investors also recently modified their holdings of B. Kestra Private Wealth Services LLC lifted its position 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 buying an additional 710 shares during the period. Nicholas Hoffman & Company LLC. raised its stake in Barrick Mining by 1.5% during the first quarter. Nicholas Hoffman & Company LLC. now owns 47,544 shares of the gold and copper producer’s stock worth $924,000 after acquiring an additional 716 shares in the last quarter. Wedbush Securities Inc. lifted its holdings in shares of Barrick Mining by 5.9% during the first quarter. Wedbush Securities Inc. now owns 18,629 shares of the gold and copper producer’s stock valued at $362,000 after acquiring an additional 1,031 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Barrick Mining by 0.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 287,668 shares of the gold and copper producer’s stock valued at $5,592,000 after acquiring an additional 1,035 shares during the period. Finally, HighPoint Advisor Group LLC boosted its stake 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 valued at $543,000 after purchasing an additional 1,081 shares in the last quarter. 90.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Scotiabank upgraded Barrick Mining from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $27.50 to $43.00 in a report on Thursday, October 23rd. Bank of America upped their target price on shares of Barrick Mining from $36.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, October 16th. TD Securities increased their price target on shares of Barrick Mining from $38.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. 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, October 10th. Finally, Canaccord Genuity Group lifted their target price on Barrick Mining from $39.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Two 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.90.

Barrick Mining Price Performance

NYSE B opened at $33.05 on Monday. The firm’s 50 day moving average is $31.94 and its 200-day moving average is $24.91. Barrick Mining Corporation has a 12-month low of $15.11 and a 12-month high of $36.40. 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 market capitalization of $55.76 billion, a PE ratio of 20.78, a price-to-earnings-growth ratio of 0.40 and a beta of 0.28.

Barrick Mining (NYSE:B) (TSE:ABX) last released its earnings results 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. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The business had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.60 billion. During the same quarter in the previous year, the business earned $0.32 earnings per share. Barrick Mining’s quarterly revenue was up 16.4% on a year-over-year basis. Equities research analysts anticipate that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

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.