Maj Invest Holding A S Purchases New Position in Barrick Mining Corporation $B

Maj Invest Holding A S acquired a new stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the 2nd quarter, Holdings Channel reports. The fund acquired 258,273 shares of the gold and copper producer’s stock, valued at approximately $5,377,000. Barrick Mining comprises approximately 0.2% of Maj Invest Holding A S’s investment portfolio, making the stock its 21st largest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in shares of Barrick Mining by 1,844.0% in the 1st quarter. GAMMA Investing LLC now owns 6,007 shares of the gold and copper producer’s stock valued at $117,000 after purchasing an additional 5,698 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Barrick Mining by 21.8% in the first quarter. Farther Finance Advisors LLC now owns 3,146 shares of the gold and copper producer’s stock valued at $62,000 after buying an additional 563 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Barrick Mining by 1.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 74,792 shares of the gold and copper producer’s stock valued at $1,454,000 after acquiring an additional 1,156 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of Barrick Mining by 25.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 291,281 shares of the gold and copper producer’s stock valued at $5,663,000 after acquiring an additional 59,906 shares during the period. Finally, Continuum Advisory LLC raised its position in Barrick Mining by 117.7% in the 1st quarter. Continuum Advisory LLC now owns 2,432 shares of the gold and copper producer’s stock valued at $47,000 after purchasing an additional 1,315 shares during the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barrick Mining Stock Performance

NYSE B opened at $34.75 on Tuesday. The stock has a market capitalization of $59.18 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 0.42 and a beta of 0.30. The business’s 50 day moving average is $29.95 and its two-hundred day moving average is $23.61. Barrick Mining Corporation has a 12-month low of $15.11 and a 12-month high of $36.40. The company has a current ratio of 3.21, a quick ratio of 2.53 and a debt-to-equity ratio of 0.14.

Barrick Mining (NYSE:B) (TSE:ABX) last posted its quarterly earnings results on Monday, August 11th. The gold and copper producer reported $0.47 EPS for the quarter, meeting the consensus estimate 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 analysts’ expectations of $3.60 billion. During the same period last year, the firm earned $0.32 EPS. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. Research analysts expect that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Cuts Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, August 29th. Barrick Mining’s payout ratio is presently 37.74%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on B. National Bankshares raised shares of Barrick Mining to an “outperform” rating in a research report on Monday, September 22nd. Citigroup raised their price target on Barrick Mining from $21.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Barrick Mining in a research note on Wednesday, September 24th. Canaccord Genuity Group lifted their target price on Barrick Mining from $39.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Barrick Mining in a report on Tuesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $41.00.

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.