Cromwell Holdings LLC Acquires Shares of 3,062 Barrick Mining Corporation $B

Cromwell Holdings LLC acquired a new stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,062 shares of the gold and copper producer’s stock, valued at approximately $64,000.

Other institutional investors have also modified their holdings of the company. Penserra Capital Management LLC raised its stake in shares of Barrick Mining by 1,919.0% during the 1st 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 last quarter. Hedges Asset Management LLC purchased a new position in shares of Barrick Mining during the 2nd quarter valued at about $1,249,000. Chemistry Wealth Management LLC purchased a new position in shares of Barrick Mining during the 2nd quarter valued at about $246,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Barrick Mining by 14.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 73,636 shares of the gold and copper producer’s stock valued at $1,141,000 after buying an additional 9,149 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in shares of Barrick Mining by 24.4% during the 1st quarter. Sequoia Financial Advisors LLC now owns 20,795 shares of the gold and copper producer’s stock valued at $404,000 after buying an additional 4,082 shares during the last quarter. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on B shares. Raymond James Financial lifted their price objective on Barrick Mining from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. UBS Group raised their target price on Barrick Mining from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, September 19th. National Bankshares upgraded Barrick Mining to an “outperform” rating in a research report on Monday, September 22nd. Royal Bank Of Canada raised their target price on Barrick Mining from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Finally, CIBC restated an “outperform” rating on shares of Barrick Mining in a research report on Monday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $33.33.

Barrick Mining Trading Up 0.6%

B stock opened at $33.92 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. Barrick Mining Corporation has a 12-month low of $15.11 and a 12-month high of $36.10. The stock has a market cap of $57.76 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 0.56 and a beta of 0.30. The business’s 50-day moving average is $27.13 and its 200 day moving average is $22.34.

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

Barrick Mining Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.8%. The ex-dividend date 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.