Brickwood Asset Management LLP Acquires New Shares in Barrick Mining Corporation $B

Brickwood Asset Management LLP acquired a new stake in Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,953,812 shares of the gold and copper producer’s stock, valued at approximately $40,678,000. Barrick Mining makes up approximately 29.0% of Brickwood Asset Management LLP’s holdings, making the stock its largest position. Brickwood Asset Management LLP owned about 0.11% of Barrick Mining as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Kestra Private Wealth Services LLC increased its position in shares of Barrick Mining by 2.5% in the 1st quarter. Kestra Private Wealth Services LLC now owns 28,724 shares of the gold and copper producer’s stock valued at $558,000 after buying an additional 710 shares in the last quarter. Nicholas Hoffman & Company LLC. increased its holdings in Barrick Mining by 1.5% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 47,544 shares of the gold and copper producer’s stock worth $924,000 after purchasing an additional 716 shares in the last quarter. Wedbush Securities Inc. increased its holdings in Barrick Mining by 5.9% during the 1st quarter. Wedbush Securities Inc. now owns 18,629 shares of the gold and copper producer’s stock worth $362,000 after purchasing an additional 1,031 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Barrick Mining by 0.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 287,668 shares of the gold and copper producer’s stock worth $5,592,000 after purchasing an additional 1,035 shares in the last quarter. Finally, HighPoint Advisor Group LLC increased its holdings in Barrick Mining by 3.9% during the 1st quarter. HighPoint Advisor Group LLC now owns 28,744 shares of the gold and copper producer’s stock worth $543,000 after purchasing an additional 1,081 shares in the last quarter. Institutional investors own 90.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on B. Raymond James Financial set a $40.00 target price on Barrick Mining and gave the stock an “outperform” rating in a report on Friday, October 10th. BMO Capital Markets reiterated a “market perform” rating on shares of Barrick Mining in a report on Monday, September 22nd. Bank of America increased their target price on Barrick Mining from $36.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. Cibc World Mkts upgraded Barrick Mining from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. Finally, Citigroup increased their price objective on shares of Barrick Mining from $21.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Barrick Mining currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.70.

Barrick Mining Trading Up 1.8%

Barrick Mining stock opened at $32.51 on Monday. Barrick Mining Corporation has a one year low of $15.11 and a one year high of $36.40. The company has a market cap of $55.35 billion, a price-to-earnings ratio of 20.44, a P/E/G ratio of 0.41 and a beta of 0.30. The firm has a 50-day moving average of $30.59 and a 200-day moving average of $24.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.21 and a quick ratio of 2.53.

Barrick Mining (NYSE:B) (TSE:ABX) last issued its earnings results on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.47. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.60 billion. During the same period last year, the business posted $0.32 EPS. Barrick Mining’s revenue was up 16.4% on a year-over-year basis. On average, equities analysts expect that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, August 29th. Barrick Mining’s dividend payout ratio (DPR) is 37.74%.

Barrick Mining 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.