US Bancorp DE Takes $620,000 Position in Barrick Mining Corporation $B

US Bancorp DE bought a new stake in Barrick Mining Corporation (NYSE:BFree Report) (TSE:ABX) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 29,796 shares of the gold and copper producer’s stock, valued at approximately $620,000.

Several other large investors have also recently bought and sold shares of B. Vermillion Wealth Management Inc. bought a new position in Barrick Mining in the 2nd quarter valued at about $25,000. Crowley Wealth Management Inc. bought a new position in Barrick Mining in the 2nd quarter valued at about $26,000. Ameriflex Group Inc. bought a new position in Barrick Mining in the 2nd quarter valued at about $27,000. Trifecta Capital Advisors LLC bought a new position in Barrick Mining in the 2nd quarter valued at about $27,000. Finally, SJS Investment Consulting Inc. bought a new position in Barrick Mining in the 2nd quarter valued at about $29,000. 90.82% of the stock is owned by institutional investors.

Barrick Mining Stock Down 6.3%

Shares of B opened at $33.41 on Monday. Barrick Mining Corporation has a 12 month low of $15.11 and a 12 month high of $36.40. The firm’s 50 day moving average is $29.71 and its 200-day moving average is $23.49. The stock has a market capitalization of $56.88 billion, a PE ratio of 21.01, a P/E/G ratio of 0.42 and a beta of 0.30. 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 (NYSE:BGet Free Report) (TSE:ABX) last posted its quarterly earnings results 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. The business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.60 billion. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The firm’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter last year, the business posted $0.32 EPS. Equities research analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a dividend of $0.15 per share. The ex-dividend date was Friday, August 29th. This represents a $0.60 annualized dividend and a dividend yield of 1.8%. Barrick Mining’s dividend payout ratio (DPR) is currently 37.74%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on B shares. CIBC increased their price target on shares of Barrick Mining from $38.00 to $50.00 and gave the company an “outperformer” rating in a report on Friday, October 10th. 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. UBS Group raised their target price on shares of Barrick Mining from $35.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday. Bank of America raised their target price on shares of Barrick Mining from $36.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Barrick Mining in a report on Wednesday, September 24th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Barrick Mining has an average rating of “Moderate Buy” and an average target price of $41.00.

Get Our Latest Stock Analysis on B

Barrick Mining Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Barrick Mining (NYSE:B)

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