Vestmark Advisory Solutions Inc. Makes New Investment in Barrick Mining Corporation $B

Vestmark Advisory Solutions Inc. bought a new stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 12,308 shares of the gold and copper producer’s stock, valued at approximately $256,000.

Several other large investors have also bought and sold shares of B. First Eagle Investment Management LLC purchased a new position in shares of Barrick Mining in the 2nd quarter valued at approximately $822,056,000. TD Asset Management Inc purchased a new stake in shares of Barrick Mining during the second quarter valued at $386,328,000. Ninety One UK Ltd purchased a new position in Barrick Mining in the 2nd quarter worth about $326,862,000. ANTIPODES PARTNERS Ltd purchased a new position in Barrick Mining in the 2nd quarter worth about $169,302,000. Finally, Equity Investment Corp purchased a new stake in shares of Barrick Mining during the 2nd quarter valued at about $89,362,000. 90.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on B shares. CIBC increased their price objective on shares of Barrick Mining from $38.00 to $50.00 and gave the company an “outperformer” rating in a research report on Friday, October 10th. UBS Group boosted their price target on Barrick Mining from $35.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Barrick Mining in a research note on Tuesday. Wall Street Zen cut shares of Barrick Mining from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. Finally, Raymond James Financial set a $40.00 price objective on Barrick Mining and gave the stock an “outperform” rating in a research note on Friday, October 10th. Two equities 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $42.90.

Barrick Mining Stock Performance

Shares of NYSE:B opened at $37.36 on Thursday. The firm has a 50 day moving average of $32.49 and a 200 day moving average of $25.22. The company has a quick ratio of 2.53, a current ratio of 3.21 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $63.04 billion, a price-to-earnings ratio of 23.46, a price-to-earnings-growth ratio of 0.40 and a beta of 0.28. Barrick Mining Corporation has a 52 week low of $15.11 and a 52 week high of $37.60.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its 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. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The company had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.20 billion. During the same quarter in the prior year, the company posted $0.09 earnings per share. Barrick Mining’s revenue for the quarter was up 23.2% compared to the same quarter last year. On average, sell-side analysts predict that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders 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 a positive change from Barrick Mining’s previous quarterly dividend of $0.15. This represents a $0.70 annualized dividend and a yield of 1.9%. Barrick Mining’s dividend payout ratio is currently 37.74%.

About Barrick Mining

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.