6,765 Shares in Barrick Mining Corporation $B Acquired by Zions Bancorporation National Association UT

Zions Bancorporation National Association UT bought a new stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 6,765 shares of the gold and copper producer’s stock, valued at approximately $141,000.

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Sanford C. Bernstein reiterated an “outperform” rating on shares of Barrick Mining in a research note on Wednesday, September 24th. CIBC boosted their price objective on shares of Barrick Mining from $38.00 to $50.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. TD Securities increased their target price on Barrick Mining from $38.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Wall Street Zen downgraded Barrick Mining from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Finally, Citigroup raised their price objective on Barrick Mining from $21.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.90.

Barrick Mining Stock Performance

Shares of B opened at $34.94 on Tuesday. Barrick Mining Corporation has a 12 month low of $15.11 and a 12 month high of $36.40. The stock has a fifty day moving average price of $32.10 and a 200-day moving average price of $25.02. The company has a current ratio of 3.21, a quick ratio of 2.53 and a debt-to-equity ratio of 0.14. The firm has a market cap of $58.96 billion, a PE ratio of 21.97, a P/E/G ratio of 0.40 and a beta of 0.28.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings results on Monday, November 10th. The gold and copper producer reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The company had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.20 billion. During the same period last year, the business posted $0.09 earnings per share. The firm’s revenue was up 23.2% compared to the same quarter last year. Equities research analysts predict that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be given a dividend of $0.175 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.70 annualized dividend and a yield of 2.0%. This is a boost from Barrick Mining’s previous quarterly dividend of $0.15. Barrick Mining’s payout ratio is presently 37.74%.

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.