Phraction Management LLC Has $234,000 Stock Holdings in Barrick Mining Corporation $B

Phraction Management LLC decreased its stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 79.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,150 shares of the gold and copper producer’s stock after selling 26,850 shares during the quarter. Phraction Management LLC’s holdings in Barrick Mining were worth $234,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Hedges Asset Management LLC grew its holdings in Barrick Mining by 1.7% during the third quarter. Hedges Asset Management LLC now owns 61,000 shares of the gold and copper producer’s stock worth $1,999,000 after purchasing an additional 1,000 shares during the period. Investors Research Corp bought a new stake in Barrick Mining in the 3rd quarter valued at $36,000. Vermillion Wealth Management Inc. bought a new position in Barrick Mining during the second quarter worth $25,000. Concord Wealth Partners acquired a new position in shares of Barrick Mining in the second quarter valued at $26,000. Finally, Crowley Wealth Management Inc. bought a new position in shares of Barrick Mining in the second quarter valued at about $26,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on B shares. Bank of America upgraded shares of Barrick Mining from a “neutral” rating to a “buy” rating and upped their price target for the company from $38.00 to $48.00 in a research note on Monday, November 24th. BNP Paribas Exane upgraded Barrick Mining from a “neutral” rating to an “outperform” rating and set a $50.00 target price on the stock in a research note on Friday, December 5th. Sanford C. Bernstein restated an “outperform” rating on shares of Barrick Mining in a research note on Wednesday, September 24th. National Bank Financial raised Barrick Mining from a “sector perform” rating to an “outperform” rating in a report on Monday, September 22nd. Finally, National Bankshares raised Barrick Mining to an “outperform” rating in a report on Monday, September 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $47.17.

Barrick Mining Trading Up 0.8%

B opened at $43.92 on Friday. The stock has a market capitalization of $73.95 billion, a price-to-earnings ratio of 21.22, a P/E/G ratio of 0.45 and a beta of 0.40. The company has a quick ratio of 2.33, a current ratio of 2.94 and a debt-to-equity ratio of 0.14. Barrick Mining Corporation has a twelve month low of $15.11 and a twelve month high of $44.38. The company has a 50-day simple moving average of $36.95 and a 200 day simple moving average of $29.09.

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

Barrick Mining Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were paid a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 1.6%. This is a boost from Barrick Mining’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Friday, November 28th. Barrick Mining’s payout ratio is 33.82%.

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.