KCM Investment Advisors LLC Takes Position in Barrick Mining Corporation $B

KCM Investment Advisors 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 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,968 shares of the gold and copper producer’s stock, valued at approximately $374,000.

Other large investors have also modified their holdings of the company. Penserra Capital Management LLC lifted its holdings in shares of Barrick Mining by 1,919.0% in the first quarter. Penserra Capital Management LLC now owns 2,968 shares of the gold and copper producer’s stock valued at $56,000 after buying an additional 2,821 shares during the period. Hedges Asset Management LLC acquired a new position in Barrick Mining during the second quarter worth about $1,249,000. Chemistry Wealth Management LLC acquired a new position in Barrick Mining during the second quarter worth about $246,000. First Eagle Investment Management LLC bought a new stake in Barrick Mining in the second quarter worth about $822,056,000. Finally, Sigma Planning Corp bought a new stake in Barrick Mining in the second quarter worth about $1,306,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barrick Mining Stock Performance

Shares of B opened at $33.05 on Monday. The company has a 50-day moving average of $31.94 and a two-hundred day moving average of $24.91. The stock has a market cap of $55.76 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 0.40 and a beta of 0.28. 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 one year low of $15.11 and a one year high of $36.40.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly 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 net margin of 19.99% and a return on equity of 8.19%. The business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same quarter in the previous year, the business earned $0.32 earnings per share. The firm’s revenue was up 16.4% compared to the same quarter last year. On average, equities research analysts expect that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Bank of America raised their price objective 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. Citigroup increased their target price on shares of Barrick Mining from $21.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. BMO Capital Markets restated a “market perform” rating on shares of Barrick Mining in a report on Monday, September 22nd. Raymond James Financial set a $40.00 price target on shares of Barrick Mining and gave the stock an “outperform” rating in a research report on Friday, October 10th. Finally, Canaccord Genuity Group upped their price target on Barrick Mining from $39.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.90.

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.