Westwood Holdings Group Inc. Buys Shares of 462,728 Barrick Mining Corporation $B

Westwood Holdings Group Inc. purchased a new stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the second quarter, HoldingsChannel reports. The firm purchased 462,728 shares of the gold and copper producer’s stock, valued at approximately $9,634,000.

Other large investors have also recently made changes to their positions in the company. Kestra Private Wealth Services LLC increased its holdings 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 purchasing an additional 710 shares during the last quarter. Nicholas Hoffman & Company LLC. boosted its position in shares of Barrick Mining by 1.5% during the first quarter. Nicholas Hoffman & Company LLC. now owns 47,544 shares of the gold and copper producer’s stock worth $924,000 after buying an additional 716 shares during the period. Wedbush Securities Inc. raised its holdings in shares of 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 buying an additional 1,031 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Barrick Mining by 0.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 287,668 shares of the gold and copper producer’s stock worth $5,592,000 after acquiring an additional 1,035 shares in the last quarter. Finally, HighPoint Advisor Group LLC lifted its stake in Barrick Mining by 3.9% during the 1st quarter. HighPoint Advisor Group LLC now owns 28,744 shares of the gold and copper producer’s stock worth $543,000 after acquiring an additional 1,081 shares in the last quarter. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on B shares. Cormark upgraded shares of Barrick Mining from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 11th. Scotiabank raised shares of Barrick Mining from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $27.50 to $43.00 in a research note on Thursday, October 23rd. UBS Group increased 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, October 16th. Cibc World Mkts raised shares of Barrick Mining from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. Finally, Bank of America upped their price objective on Barrick Mining from $36.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.90.

Barrick Mining Price Performance

Barrick Mining stock opened at $37.00 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 fifty day simple moving average of $32.84 and a 200-day simple moving average of $25.47. The stock has a market cap of $62.43 billion, a P/E ratio of 23.27, a price-to-earnings-growth ratio of 0.40 and a beta of 0.28. Barrick Mining Corporation has a 12-month low of $15.11 and a 12-month high of $37.73.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings results on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The company had revenue of $4.19 billion for the quarter, compared to analysts’ expectations of $4.20 billion. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.Barrick Mining’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period last year, the firm earned $0.09 earnings per share. Equities analysts expect that Barrick Mining Corporation will post 1.47 EPS 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. Investors of record on Friday, November 28th will be issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 1.9%. This is a positive change from Barrick Mining’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, November 28th. Barrick Mining’s dividend payout ratio is currently 33.82%.

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.