Miller Financial Services LLC Buys New Position in Barrick Mining Corporation $B

Miller Financial Services 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 Securities and Exchange Commission (SEC). The institutional investor purchased 10,318 shares of the gold and copper producer’s stock, valued at approximately $215,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. New York State Common Retirement Fund boosted its holdings in Barrick Mining by 15.5% during the 1st quarter. New York State Common Retirement Fund now owns 194,806 shares of the gold and copper producer’s stock worth $3,787,000 after acquiring an additional 26,170 shares during the last quarter. Kestra Private Wealth Services LLC lifted its position in shares of Barrick Mining by 2.5% during the first quarter. Kestra Private Wealth Services LLC now owns 28,724 shares of the gold and copper producer’s stock valued at $558,000 after purchasing an additional 710 shares in the last quarter. HighPoint Advisor Group LLC boosted its holdings in Barrick Mining by 3.9% during the first quarter. HighPoint Advisor Group LLC now owns 28,744 shares of the gold and copper producer’s stock worth $543,000 after purchasing an additional 1,081 shares during the last quarter. Auto Owners Insurance Co grew its position in Barrick Mining by 10,194.1% in the 1st quarter. Auto Owners Insurance Co now owns 1,050,000 shares of the gold and copper producer’s stock worth $20,412,000 after purchasing an additional 1,039,800 shares in the last quarter. Finally, Wedbush Securities Inc. increased its stake in Barrick Mining by 5.9% in the 1st quarter. Wedbush Securities Inc. now owns 18,629 shares of the gold and copper producer’s stock valued at $362,000 after buying an additional 1,031 shares during the last quarter. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Mining Trading Down 0.0%

Shares of B opened at $37.73 on Thursday. The firm has a market cap of $63.67 billion, a P/E ratio of 23.73, a price-to-earnings-growth ratio of 0.40 and a beta of 0.28. Barrick Mining Corporation has a fifty-two week low of $15.11 and a fifty-two week high of $38.78. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.53 and a current ratio of 3.21. The business has a 50-day moving average of $33.33 and a 200 day moving average of $25.86.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings results on Monday, November 10th. The gold and copper producer reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The company had revenue of $4.19 billion for the quarter, compared to analysts’ expectations of $4.20 billion. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. Barrick Mining’s revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.09 EPS. As a group, research analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be issued a $0.175 dividend. The ex-dividend date of this dividend is Friday, November 28th. This is an increase from Barrick Mining’s previous quarterly dividend of $0.15. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.9%. Barrick Mining’s dividend payout ratio is 33.82%.

Analyst Upgrades and Downgrades

B has been the topic of a number of research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Barrick Mining in a research note on Monday. Scotiabank raised Barrick Mining from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $27.50 to $43.00 in a research report on Thursday, October 23rd. Citigroup lifted their target price on Barrick Mining from $21.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 15th. Royal Bank Of Canada increased their price target on shares of Barrick Mining from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. Finally, CIBC lifted their price objective on shares of Barrick Mining from $38.00 to $50.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $42.90.

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.