10,632 Shares in Barrick Mining Corporation $B Purchased by Quilter Plc

Quilter Plc acquired a new position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the second quarter, HoldingsChannel.com reports. The firm acquired 10,632 shares of the gold and copper producer’s stock, valued at approximately $221,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kestra Private Wealth Services LLC boosted its stake 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 worth $558,000 after purchasing an additional 710 shares during the period. Nicholas Hoffman & Company LLC. lifted its stake in Barrick Mining by 1.5% in the first quarter. Nicholas Hoffman & Company LLC. now owns 47,544 shares of the gold and copper producer’s stock worth $924,000 after purchasing an additional 716 shares during the last quarter. Wedbush Securities Inc. boosted its stake in shares of Barrick Mining by 5.9% during the first quarter. Wedbush Securities Inc. now owns 18,629 shares of the gold and copper producer’s stock valued at $362,000 after purchasing an additional 1,031 shares during the period. HighPoint Advisor Group LLC increased its position in shares of Barrick Mining by 3.9% during the first 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 during the period. Finally, Vermillion Wealth Management Inc. purchased a new position in Barrick Mining during the 2nd quarter worth $25,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Mining Stock Down 0.0%

Shares of B opened at $37.73 on Thursday. The company has a market capitalization of $63.67 billion, a price-to-earnings ratio of 23.73, a PEG 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 $38.78. The stock’s 50-day moving average price is $33.33 and its 200-day moving average price is $25.86. 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 (NYSE:B) (TSE:ABX) last posted its earnings results on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.01. The firm had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.20 billion. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The business’s revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.09 EPS. On average, sell-side analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be paid a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, November 28th. This is an increase from Barrick Mining’s previous quarterly dividend of $0.15. Barrick Mining’s dividend payout ratio is currently 33.82%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on B. Cormark upgraded Barrick Mining from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 11th. Scotiabank upgraded Barrick Mining from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $27.50 to $43.00 in a research note on Thursday, October 23rd. Citigroup increased their price objective on shares of Barrick Mining from $21.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. National Bank Financial raised shares of Barrick Mining from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 22nd. Finally, National Bankshares raised shares of Barrick Mining to an “outperform” rating in a report on Monday, September 22nd. Two 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $42.90.

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.