MQS Management LLC Buys New Holdings in Barrick Mining Corporation (NYSE:B)

MQS Management LLC purchased a new stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 37,142 shares of the gold and copper producer’s stock, valued at approximately $722,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in B. PNC Financial Services Group Inc. increased its stake in shares of Barrick Mining by 16.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 19,198 shares of the gold and copper producer’s stock worth $298,000 after purchasing an additional 2,759 shares during the period. Sequoia Financial Advisors LLC increased its position in Barrick Mining by 8.1% during the 4th quarter. Sequoia Financial Advisors LLC now owns 16,713 shares of the gold and copper producer’s stock worth $259,000 after buying an additional 1,248 shares during the period. Commonwealth Equity Services LLC lifted its holdings in shares of Barrick Mining by 2.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 671,039 shares of the gold and copper producer’s stock worth $10,401,000 after buying an additional 15,915 shares in the last quarter. Madison Investment Advisors LLC acquired a new stake in shares of Barrick Mining during the fourth quarter worth $9,757,000. Finally, one8zero8 LLC bought a new stake in shares of Barrick Mining in the fourth quarter valued at about $224,000. 90.82% of the stock is owned by institutional investors.

Barrick Mining Trading Up 0.7%

B opened at $21.22 on Friday. The company has a market cap of $36.38 billion, a P/E ratio of 15.95, a PEG ratio of 0.34 and a beta of 0.28. The company has a current ratio of 2.87, a quick ratio of 2.16 and a debt-to-equity ratio of 0.14. The company’s 50 day moving average is $19.97 and its 200-day moving average is $18.59. Barrick Mining Corporation has a 1-year low of $17.41 and a 1-year high of $47.50.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $3.15 billion. Barrick Mining had a net margin of 17.46% and a return on equity of 7.51%. The company’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the business posted $0.19 earnings per share. Equities research analysts predict that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.40 dividend on an annualized basis and a yield of 1.89%. Barrick Mining’s dividend payout ratio is currently 30.08%.

Wall Street Analyst Weigh In

Several analysts have weighed in on B shares. BMO Capital Markets began coverage on shares of Barrick Mining in a research note on Wednesday, April 16th. They issued a “market perform” rating for the company. CIBC raised their price objective on Barrick Mining from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 11th. Citigroup dropped their price objective on Barrick Mining from $21.00 to $17.00 and set a “neutral” rating for the company in a report on Monday, March 31st. Wall Street Zen raised Barrick Mining from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 5th. Finally, National Bank Financial raised Barrick Mining to a “hold” rating in a research note on Friday, March 21st. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.05.

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.