Whittier Trust Co. Takes $47,000 Position in Barrick Mining Corporation $B

Whittier Trust Co. acquired a new stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,252 shares of the gold and copper producer’s stock, valued at approximately $47,000.

Several other hedge funds also recently bought and sold shares of the business. Kestra Private Wealth Services LLC grew its position in Barrick Mining by 2.5% in the 1st quarter. Kestra Private Wealth Services LLC now owns 28,724 shares of the gold and copper producer’s stock valued at $558,000 after acquiring an additional 710 shares during the last quarter. Nicholas Hoffman & Company LLC. grew its position in Barrick Mining by 1.5% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 47,544 shares of the gold and copper producer’s stock valued at $924,000 after acquiring an additional 716 shares during the last quarter. Wedbush Securities Inc. grew its position 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 acquiring an additional 1,031 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Barrick Mining by 0.4% in the 1st 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 last quarter. Finally, HighPoint Advisor Group LLC grew its position in 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 acquiring an additional 1,081 shares during the last quarter. Institutional investors own 90.82% of the company’s stock.

Barrick Mining Price Performance

B opened at $32.51 on Friday. The company has a current ratio of 3.21, a quick ratio of 2.53 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $55.35 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 0.40 and a beta of 0.30. Barrick Mining Corporation has a 12-month low of $15.11 and a 12-month high of $36.40. The business’s fifty day simple moving average is $30.59 and its 200-day simple moving average is $23.92.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings data on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.47. The firm had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.60 billion. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The firm’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 EPS. On average, equities research analysts anticipate that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors 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 was Friday, August 29th. Barrick Mining’s dividend payout ratio is 37.74%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on B shares. Cibc World Mkts raised Barrick Mining from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. National Bankshares raised Barrick Mining to an “outperform” rating in a research report on Monday, September 22nd. Zacks Research downgraded Barrick Mining from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of Barrick Mining in a research report on Tuesday, October 14th. Finally, National Bank Financial raised Barrick Mining from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 22nd. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.70.

Barrick Mining 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.