Mitsubishi UFJ Trust & Banking Corp Purchases Shares of 479,130 Barrick Mining Corporation $B

Mitsubishi UFJ Trust & Banking Corp purchased a new position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) during the second quarter, HoldingsChannel.com reports. The fund purchased 479,130 shares of the gold and copper producer’s stock, valued at approximately $10,105,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vermillion Wealth Management Inc. bought a new stake in shares of Barrick Mining in the second quarter worth about $25,000. Crowley Wealth Management Inc. purchased a new stake in Barrick Mining in the 2nd quarter worth approximately $26,000. Concord Wealth Partners purchased a new stake in Barrick Mining in the 2nd quarter worth approximately $26,000. Ameriflex Group Inc. bought a new stake in shares of Barrick Mining in the 2nd quarter worth approximately $27,000. Finally, Trifecta Capital Advisors LLC purchased a new position in shares of Barrick Mining during the second quarter valued at approximately $27,000. 90.82% of the stock is owned by institutional investors.

Barrick Mining Stock Up 1.6%

Shares of Barrick Mining stock opened at $37.00 on Monday. Barrick Mining Corporation has a 1 year low of $15.11 and a 1 year high of $37.73. The firm has a market cap of $62.43 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 0.40 and a beta of 0.28. The company has a 50-day moving average of $32.84 and a 200 day moving average of $25.51. 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 posted its quarterly earnings data on Monday, November 10th. The gold and copper producer reported $0.58 EPS for the quarter, topping the consensus estimate of $0.57 by $0.01. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The business had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.20 billion. During the same quarter in the previous year, the firm posted $0.09 earnings per share. Barrick Mining’s quarterly revenue was up 23.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be given a dividend of $0.175 per share. This is a boost from Barrick Mining’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.70 dividend on an annualized basis and a yield of 1.9%. Barrick Mining’s dividend payout ratio is 33.82%.

Analyst Ratings Changes

Several research firms recently weighed in on B. Weiss Ratings reiterated a “buy (b)” rating on shares of Barrick Mining in a report on Tuesday, November 11th. UBS Group raised their target price on shares of Barrick Mining from $35.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Barrick Mining in a research report on Wednesday, September 24th. BMO Capital Markets reissued a “market perform” rating on shares of Barrick Mining in a research note on Monday, September 22nd. Finally, Zacks Research cut Barrick Mining from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Barrick Mining currently has an average rating of “Moderate Buy” and a consensus target price of $42.90.

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.