State of Wyoming Takes $661,000 Position in Barrick Mining Corporation $B

State of Wyoming purchased a new position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 31,766 shares of the gold and copper producer’s stock, valued at approximately $661,000.

A number of other large investors also recently bought and sold shares of B. Fiduciary Financial Group LLC purchased a new stake in Barrick Mining in the second quarter worth $352,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Barrick Mining in the second quarter worth about $464,000. Fractal Investments LLC purchased a new position in Barrick Mining in the 2nd quarter worth about $341,000. Hedges Asset Management LLC bought a new stake in Barrick Mining during the 2nd quarter valued at about $1,249,000. Finally, Parallel Advisors LLC bought a new stake in Barrick Mining during the 2nd quarter valued at about $76,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Barrick Mining Stock Down 0.3%

Barrick Mining stock opened at $43.02 on Monday. The company has a quick ratio of 2.33, a current ratio of 2.94 and a debt-to-equity ratio of 0.14. The firm has a market cap of $72.44 billion, a P/E ratio of 20.78, a P/E/G ratio of 0.44 and a beta of 0.40. The business has a fifty day moving average of $36.16 and a two-hundred day moving average of $28.54. Barrick Mining Corporation has a twelve month low of $15.11 and a twelve month high of $44.07.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its quarterly earnings results on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The business had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $4.20 billion. Barrick Mining had a return on equity of 9.48% and a net margin of 24.53%.The business’s revenue was up 23.2% compared to the same quarter last year. During the same period last year, the business posted $0.09 EPS. On average, analysts forecast that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be issued a $0.175 dividend. This is a boost from Barrick Mining’s previous quarterly dividend of $0.15. This represents a $0.70 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, November 28th. Barrick Mining’s dividend payout ratio is presently 33.82%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on B. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Barrick Mining in a research report on Wednesday, September 24th. National Bank Financial upgraded Barrick Mining from a “sector perform” rating to an “outperform” rating in a report on Monday, September 22nd. BNP Paribas upgraded Barrick Mining to a “neutral” rating and set a $50.00 price objective on the stock in a report on Friday, December 5th. BNP Paribas Exane raised Barrick Mining from a “neutral” rating to an “outperform” rating and set a $50.00 target price for the company in a research report on Friday, December 5th. Finally, Zacks Research downgraded 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, seventeen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.17.

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.