BOS Asset Management LLC Acquires New Shares in Barrick Mining Corporation $B

BOS Asset Management LLC acquired a new stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 119,625 shares of the gold and copper producer’s stock, valued at approximately $2,491,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SJS Investment Consulting Inc. bought a new position in Barrick Mining in the 2nd quarter valued at approximately $29,000. Nexus Investment Management ULC bought a new position in shares of Barrick Mining during the 1st quarter valued at $32,000. Cary Street Partners Investment Advisory LLC bought a new position in shares of Barrick Mining during the 1st quarter valued at $32,000. AdvisorNet Financial Inc bought a new position in shares of Barrick Mining during the 2nd quarter valued at $39,000. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Barrick Mining by 55.8% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 2,193 shares of the gold and copper producer’s stock valued at $43,000 after buying an additional 785 shares during the period. 90.82% of the stock is owned by institutional investors.

Barrick Mining Trading Up 2.2%

NYSE:B opened at $34.30 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.21 and a quick ratio of 2.53. The firm has a market capitalization of $58.41 billion, a price-to-earnings ratio of 21.57, a price-to-earnings-growth ratio of 0.59 and a beta of 0.28. Barrick Mining Corporation has a one year low of $15.11 and a one year high of $36.10. The business has a fifty day moving average price of $25.91 and a 200-day moving average price of $21.82.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings data on Monday, August 11th. The gold and copper producer reported $0.47 EPS for the quarter, hitting the consensus estimate of $0.47. The firm had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.60 billion. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.Barrick Mining’s revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 EPS. Sell-side analysts forecast that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, August 29th. Barrick Mining’s dividend payout ratio is 37.74%.

Analysts Set New Price Targets

B has been the topic of several research analyst reports. Scotiabank increased their price target on Barrick Mining from $25.00 to $26.00 and gave the company a “sector perform” rating in a report on Wednesday, August 13th. Bank of America increased their price target on Barrick Mining from $29.00 to $34.00 and gave the company a “neutral” rating in a report on Friday, September 19th. BMO Capital Markets reissued a “market perform” rating on shares of Barrick Mining in a report on Monday. TD Securities increased their price target on Barrick Mining from $30.00 to $38.00 and gave the company a “buy” rating in a report on Monday. Finally, National Bankshares raised Barrick Mining to an “outperform” rating in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $33.33.

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.