Means Investment CO. Inc. Makes New Investment in Barrick Mining Corporation $B

Means Investment CO. Inc. acquired a new position in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 16,473 shares of the gold and copper producer’s stock, valued at approximately $343,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vermillion Wealth Management Inc. purchased a new stake in Barrick Mining during the 2nd quarter worth approximately $25,000. Crowley Wealth Management Inc. acquired a new position in shares of Barrick Mining in the 2nd quarter worth approximately $26,000. Ameriflex Group Inc. acquired a new position in shares of Barrick Mining in the 2nd quarter worth approximately $27,000. Trifecta Capital Advisors LLC acquired a new position in shares of Barrick Mining in the 2nd quarter worth approximately $27,000. Finally, SJS Investment Consulting Inc. acquired a new position in shares of Barrick Mining in the 2nd quarter worth approximately $29,000. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Mining Trading Down 1.0%

NYSE:B opened at $32.73 on Friday. Barrick Mining Corporation has a 12-month low of $15.11 and a 12-month high of $36.10. The firm has a market capitalization of $55.72 billion, a P/E ratio of 20.58, a P/E/G ratio of 0.54 and a beta of 0.30. 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 business has a 50 day simple moving average of $28.58 and a 200 day simple moving average of $22.95.

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

Barrick Mining Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, August 29th. Barrick Mining’s payout ratio is 37.74%.

Analyst Upgrades and Downgrades

B has been the subject of several research reports. National Bankshares upgraded Barrick Mining to an “outperform” rating in a research report on Monday, September 22nd. Raymond James Financial set a $40.00 target price on Barrick Mining and gave the stock an “outperform” rating in a research report on Friday. BMO Capital Markets reiterated a “market perform” rating on shares of Barrick Mining in a research report on Monday, September 22nd. Bank of America lifted their target price on Barrick Mining from $29.00 to $34.00 and gave the stock a “neutral” rating in a research report on Friday, September 19th. Finally, Zacks Research lowered Barrick Mining from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.10.

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.