Bessemer Group Inc. Buys Shares of 63,601 Barrick Mining Corporation $B

Bessemer Group Inc. purchased a new stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 63,601 shares of the gold and copper producer’s stock, valued at approximately $1,322,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vermillion Wealth Management Inc. purchased a new position in shares of Barrick Mining in the second quarter worth approximately $25,000. Crowley Wealth Management Inc. bought a new position in Barrick Mining in the second quarter worth approximately $26,000. Concord Wealth Partners purchased a new position in shares of Barrick Mining during the 2nd quarter worth $26,000. Ameriflex Group Inc. bought a new stake in shares of Barrick Mining during the 2nd quarter valued at $27,000. Finally, Trifecta Capital Advisors LLC purchased a new stake in shares of Barrick Mining in the 2nd quarter worth $27,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Barrick Mining Stock Performance

NYSE B opened at $33.02 on Friday. The company has a quick ratio of 2.53, a current ratio of 3.21 and a debt-to-equity ratio of 0.14. Barrick Mining Corporation has a twelve month low of $15.11 and a twelve month high of $36.40. The business has a 50-day moving average price of $31.20 and a 200-day moving average price of $24.32. The firm has a market cap of $55.72 billion, a price-to-earnings ratio of 20.77, a price-to-earnings-growth ratio of 0.40 and a beta of 0.30.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its earnings results on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share (EPS) for the quarter, meeting 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 the consensus estimate of $3.60 billion. During the same quarter last year, the company earned $0.32 EPS. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. As a group, equities research analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current fiscal year.

Barrick Mining Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, August 29th. Barrick Mining’s payout ratio is 37.74%.

Analyst Ratings Changes

A number of equities analysts recently commented on B shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Barrick Mining in a report on Tuesday, October 14th. Royal Bank Of Canada raised their price objective on Barrick Mining from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday. Raymond James Financial set a $40.00 price objective on Barrick Mining and gave the company an “outperform” rating in a research report on Friday, October 10th. Sanford C. Bernstein reissued an “outperform” rating on shares of Barrick Mining in a report on Wednesday, September 24th. Finally, Zacks Research cut shares of Barrick Mining from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.90.

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.