Parvin Asset Management LLC Makes New Investment in Barrick Mining Corporation $B

Parvin Asset Management LLC purchased a new position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the second quarter, Holdings Channel reports. The institutional investor purchased 34,525 shares of the gold and copper producer’s stock, valued at approximately $1,268,000. Barrick Mining comprises 1.0% of Parvin Asset Management LLC’s investment portfolio, making the stock its 26th largest holding.

Other hedge funds have also recently made changes to their positions in the company. Intesa Sanpaolo Wealth Management purchased a new stake in Barrick Mining in the fourth quarter valued at approximately $26,000. Ascentis Independent Advisors purchased a new position in Barrick Mining in the 1st quarter worth approximately $28,000. Laurel Wealth Advisors LLC bought a new position in shares of Barrick Mining in the 4th quarter worth $30,000. Motiv8 Investments LLC bought a new position in shares of Barrick Mining in the 4th quarter worth $31,000. Finally, Key Financial Inc raised its position in shares of Barrick Mining by 137.5% during the 1st quarter. Key Financial Inc now owns 753 shares of the gold and copper producer’s stock valued at $31,000 after buying an additional 436 shares in the last quarter. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Mining Trading Down 3.8%

Shares of B opened at $47.00 on Thursday. The firm’s 50-day moving average price is $39.21 and its 200-day moving average price is $41.57. The firm has a market capitalization of $77.36 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 0.94 and a beta of 0.47. The company has a current ratio of 3.01, a quick ratio of 2.36 and a debt-to-equity ratio of 0.13. Barrick Mining Corporation has a 1-year low of $26.14 and a 1-year high of $54.69.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its quarterly earnings data on Monday, August 10th. The gold and copper producer reported $0.82 EPS for the quarter, topping the consensus estimate of $0.81 by $0.01. Barrick Mining had a net margin of 31.60% and a return on equity of 16.02%. The business had revenue of $4.19 billion during the quarter, compared to analyst estimates of $5.10 billion. During the same period last year, the business posted $0.47 earnings per share. Barrick Mining’s quarterly revenue was up 43.8% compared to the same quarter last year. Sell-side analysts anticipate that Barrick Mining Corporation will post 3.56 EPS for the current year.

Barrick Mining Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Monday, August 31st. Barrick Mining’s dividend payout ratio is presently 18.04%.

Analyst Ratings Changes

A number of research analysts recently commented on B shares. Bank of America reduced their target price on Barrick Mining from $56.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Citigroup reiterated a “positive” rating on shares of Barrick Mining in a report on Wednesday, July 15th. Scotiabank decreased their price objective on Barrick Mining from $57.00 to $55.00 and set an “outperform” rating on the stock in a report on Wednesday, August 12th. UBS Group dropped their target price on Barrick Mining from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Finally, JPMorgan Chase & Co. upped their target price on Barrick Mining from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $52.57.

Barrick Mining Profile

Barrick Gold Corporation, commonly known as Barrick, is a Toronto‑headquartered mining company focused on the exploration, development, production and sale of gold and copper. Listed on major exchanges (including the New York Stock Exchange under the symbol B), Barrick operates as an integrated minerals producer, running large‑scale mining complexes, processing facilities and related support services for extraction and metallurgical treatment of ore.

The company’s activities span the full mining value chain: greenfield exploration, feasibility and permitting, mine construction, ongoing operations, and closure and reclamation.